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The Fed's predictable response to inflation is based on erroneous economic thinking common with Keynesians. Only a free-market approach can reduce inflation and restore true market interest rates.
Original Article: "Individual Time Preferences, Not the Central Bank, Determine Real Interest Rates"
This Audio Mises Wire is generously sponsored by Christopher Condon.
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Frank Shostak's consulting firm, Applied Austrian School Economics, provides in-depth assessments of financial markets and global economies. Contact: email.