The Federal Reserve’s Federal Open Market Committee (FOMC) last week left the target policy interest rate (the federal funds rate) unchanged at 5.5 percent. This “pause” in the target rate suggests the FOMC believes it has raised the target rate high enough to rein in price inflation which has run well above the Fed’s arbitrary two-percent inflation target since mid-2021. I say “believe,” but perhaps the more appropriate word here is “hope.” 

The speech Using Economic Data to Understand the Economy, given this week by Fed Governor Christopher J. Waller presented an informative glimpse into some of the data they use to arrive at their economic decisions.

Of the 12 slides provided, here are some of the best, starting with one of the most popular: GDP.

Despite the numerous permanent problems faced by public healthcare systems, a significant number of people (such as citizens, politicians, and doctors) still seem to deem them necessary and believe that the problems associated with them can be solved by, for example, better management, increased expenditure, or central planning. Therefore, in this essay, the main arguments in favor of a gradual departure from public systems will be presented alongside the benefits of (unhampered) market solutions.

Most people have a negative view of business monopolies. Whether for allegedly exploiting workers, causing inefficiency, or crowding out potential challengers, most government-granted monopolies undoubtedly hurt entrepreneurs and customers.

This basic distrust of monopolization disappears as soon as one enters the floors of the United States Senate or Congress. Government-forced monopolization arises in virtually every industry, but nowhere is it as costly as in healthcare.