Money-Supply Growth Slows in February

Money supply growth slowed in February, falling to the lowest rate recorded since February of last year. Overall, money-supply growth remains well below the growth rates experienced from 2009 to 2016, and has fluctuated little since March of last year

In February, year-over-year growth in the money supply was at 3.1 percent. That was down from January’s growth rate of 3.3 percent, but was up from February 2018’s rate of 3.0 percent.

“Objective Journalism” Has Always Been a Myth

One of the great myths of modern journalism is that it is possible for journalists to report facts and make judgments in an objective manner. This myth has come under increasing attack in recent years as the mass media’s continued hostility to the Trump administration has become ever more fevered. Nevertheless, many both inside and outside the profession cling to the idea that “objective” reporting is possible.

Even Socialists Know that Economic Planning Requires Market Prices

In a recent editorial at Jacobin magazine, it is argued that a “planned economy can actually work.” They start with something I have written about at least a dozen times recently: the definition of socialism. Let me not mince words: our ability to argue against the rising left’s socialism is going to depend on what exactly is being argued.

Hello Jerome Powell, We Have Questions

This is an open letter to Jerome Powell and the Fed.

Dear Mr. Powell,

In your March 8 speech on Normalization and the Road Ahead, you spoke of diversity, zero-bound interest rate problem, and the Fed’s path to normalization.

You noted “Makeup strategies are probably the most prominent idea and deserve serious attention,” while simultaneously admitting an “uncertain distance between models and reality“.