Money and Banking

If a monetary rule like the Taylor Rule is not a solution to the problem of the Fed, what is? Competition.

I argue that hoarding implies a longer period of time between when resources are saved and when new consumer goods reach the market (economic growth).

The Fed keeps hinting that it plans to raise the target rate more than once this year. But, the Fed's level of confidence is near zero.

Here are the five most important issues to keep an eye on in 2017.

Congress seems set to reform the Fed, but what we really need is Fed competition.

The Fed says it can use a "neutral interest rate" to set policy. But, Fed economists don't understand how the neutral rate works.

At different times and in different places, Fed officials have changed their stories about whether or not bubbles can be seen before they pop.

Happy New Year from the Mises Institute!

Negative rates can work because the opportunity cost of holding physical cash is not zero. Abolishing large banknotes further increases the cost.

In his new book, central banker Mervyn King sometimes sounds like Murray Rothbard. But in the end he continues the problem of central banking control.