The US Senate continues to debate legislation potentially adding women to the military draft in the United States. This week, for instance, Senator Josh Hawley attempted to remove from the 2021 National Defense Authorization Act provisions requiring that “all Americans” (aged 18-25) register for the draft.

November’s Federal Open Market Committee (FOMC) meeting finally brought the long sought-after tapering. This month, instead of unleashing $120 billion into the market to lower the purchasing power of the dollar, the Fed will aim for closer to only $105 billion per month; hence the taper. As per usual, the Q & A highlights offer great insight into seeing just how far gone the Fed is from economic theory.