Richmond Fed president Jeffrey Lacker is allegedly one of the hawks, though that term can’t mean what is used to — not in a world where it takes 8 years to get to .5%–.75% on the Fed Funds Rate target.
In the quest to explain economic development, institutional competition has been almost systematically ignored by many economists and historians alike who have fallen under the spell of the interpretation of nineteenth-century German historicists. The members of the German historical school, and especially Schmoller and Bücher, saw the state as the institution that was responsible for the creation of both the market and modern capitalism.
In a cry of desperation, Tim Duy takes to Bloomberg to warn the world about the possibility of “hard-money” advocates getting into the Fed. Why, there’s potential that new Fed governors might not be “divorced from political pressures.” Wouldn’t that be a radical shift.
In a cry of desperation, Tim Duy takes to Bloomberg to warn the world about the possibility of “hard-money” advocates getting into the Fed. Why, there’s potential that new Fed governors might not be “divorced from political pressures.” Wouldn’t that be a radical shift.
Editor’s Note: Formerly only available in PDF format, Erik von Kuehnelt-Leddihn’s timeless essay “The Cultural Background of Ludwig von Mises” is now available in HTML making it much easier to use on your mobile devices.
Richmond Fed president Jeffrey Lacker is allegedly one of the hawks, though that term can’t mean what is used to — not in a world where it takes 8 years to get to .5%–.75% on the Fed Funds Rate target.
Among the many new directives and executive orders already issued by the Trump administration is a little-noticed order to halt a scheduled cut in mortgage insurance fees levied by the FHA.
Earlier in January, the Obama administration announced it would cut the FHA’s insurance premium by a quarter of a percentage point to 0.60 percent, effective on Jan. 27.
Did you ever see a woman light a cigarette and thought to yourself “What a provocative example of moral decay!”? That’s likely not to be the case, but only because you weren’t born in the 19th century. The fact that your favorite Western movie doesn’t show women smoking tobacco is actually historically accurate: women weren’t supposed to be smoking until the 1920’s.
One of the biggest surprises during Donald Trump’s unconventional presidential campaign was his frequent criticism of the Federal Reserve. Though he was highly inconsistent on what he thought the Fed should do, coming out as both a critic and advocate of the current low interest rate policy, he was steadier in his dismissal of the Fed as an independent institution.
This week we commemorate Austrian-born economist Oskar Morgenstern’s birthday. Born on January 24, 1902, he died on July 26, 1977, at the age of 75. He is best known as the co-developer of modern game theory with John von Neumann in their 1944 book, “The Theory of Games and Economic Behavior,”
