Joshua Schubert is currently an economics student at Grove City College.

How Central Banks Destroy Money’s Purchasing Power

Listen to the Audio Mises Wire version of this article.

Most economists hold that a growing economy requires a growing money stock on grounds that growth gives rise to a greater demand for money that must be accommodated. Failing to do so, it is maintained, will lead to a decline in the prices of goods and services, which in turn will destabilize the economy and lead to an economic recession, or even worse, depression.

Three Weeks Later: The Fed Minutes

Somewhere there exists a list of ostentatious, unapologetic behavior exhibited by the Federal Reserve. On that list there must be a spot for the three-week delay on publishing the board minutes, as seen by the June 9–10 Federal Open Market Committee (FOMC) meeting minutes. We can only wonder if the minutes have been significantly edited or instances of great dissent among central bankers omitted entirely. Among the many issues with the Fed is a lack of accountability.