Mises Wire

Facebook icon
LinkedIn icon
Twitter icon
A
A
< | < | <

The Week in Review: April 30, 2016

  • Treasury
0 Views

Tags The FedMoney and BanksTaxes and SpendingMoney and Banking

04/29/2016

Surprising no one, the FOMC announced this week that they would maintain the status quo on the federal funds rate. Meanwhile housing prices are outpacing household wages, with Ryan McMaken noting that the Fed’s suppression of interest rates has led to consumers replacing “saving with consumer debt (i.e., mortgages) and a hope that people can continue to make the high payments every month. It's not a terribly wise long-term economic strategy, but it's one the Fed is banking on.” Meanwhile C. Jay Engel highlights a few more troubling indicators, including a decline in durable goods orders, the Atlanta Fed being forced to lower GDP estimates, and the “the difference between pro forma and GAAP corporate earnings numbers are at the highest since the previous financial crisis.”

The only good news this week came for Uncle Sam, who set new records in tax collection for 2015.

Jim Grant joined Jeff for this week’s Mises Weekends. They discuss his recent cover article in Time magazine, and the reaction it received from Krugman and others on the left. They also discuss comments recently made by Ben Bernanke, arguing in favor of the Fed to seriously look into helicopter money. When did fiscal and monetary sanity become a radical position in America? This is an episode you won’t want to miss.

Jim Grant

And in case you missed any of them, here are the articles featured this week on the Mises Wire:

The Mises Institute works to advance the Austrian School of economics and the Misesian tradition, and defends the market economy, private property, sound money, and peaceful international relations, while opposing state intervention.

Note: The views expressed on Mises.org are not necessarily those of the Mises Institute.
Image source: Eli Christman https://www.flickr.com/photos/gammaman/
When commenting, please post a concise, civil, and informative comment. Full comment policy here.

Add Comment

Shield icon wire