The US debt ceiling suspension, signed in February 2018, expires at the beginning of March this year. Some commentators are of the view that the US Treasury must carry out special measures if it expects a delay in raising the debt ceiling in March.

In this view, the Treasury would have to draw down its deposits at the Fed and deposit the cash in various government department accounts at commercial banks, for future use to pay government salaries and contractors’ fees.

Banks provide fairly invaluable services to a monetary economy, many of which the economics literature has long been discussing: under division of labor, banks specialize in amassing savings and putting them to use.

On June 23, 2016, the British electorate voted 51.9 percent-48.1 percent in favor of the United Kingdom leaving the European Union. The referendum was one of the biggest political earthquakes that preceded the election of Donald Trump on November 6, 2016.

In November, Harvard economists Valentin Bolotnyy and Natalia Emanuel published a new working paper titled “Why Do Women Earn Less Than Men? Evidence from Bus and Train Operators.”

In the study, Bolotnyy and Emanuel study unionized bus and train operators to determine whether or not a gender pay gap exists, and what its causes might be.

One of the most interesting aspects of the “Green New Deal” is that its progressive proponents hardly mention taxes at all—even as some Republican economists continue to champion a carbon tax.

After two years of a lot of aggressive-sounding talk about reducing the Fed’s balance sheet and raising the target interest rate, the Fed in recent weeks has reversed  itself, and declared that now’s a time to take things more slowly.

At the January FOMC meeting, officials:

Let us say that a carpenter wishes to cut fifty boards for the purpose of laying the floor of a house. He has marked his boards. He has set his saw. He begins at one end of the mark on the board. But he does not know that his seven-year old son has tampered with the saw and changed its set. The result is that every board he saws is cut slantwise and thus unusable because [the board is] too short except at the point where the saw first made its contact with the wood. As long as the set of the saw is not changed, the result will always be the same.-- Cornelius Van Til

On February 19, 1942, President Franklin Roosevelt issued Executive Order 9066 authorizing military personnel to lock Americans of Japanese descent in concentration camps that are often euphemistically called “internment camps.”