The Fed Is Making It Up as It Goes, So It Ditched Forward Guidance
The Federal Reserve’s Federal Open Market Committee announced Wednesday it is raising its key policy rate—the federal funds rate—by 75 basis points to 2.5 percent. According to the FOMC’s press release, the committee recognizes that economic activity is declining but that Consumer Price Index (CPI) inflation also “remains elevated”:
Causes and Consequences of Modern Monetary Theory
Do Free Markets Create a Wasteful “Landfill Economy”? Definitely Not
Toleration Does Not Require Calling Evil Good
The Fallacy of Calls for a “Manhattan Project” to Solve National Economic Challenges
Like the Fed, the ECB Is Still a Long Way from “Normal” Monetary Policy
Interest Rate Tightening Will Cause Even More Economic Destruction
Free Trade vs. Protectionism
Inflation Makes People Poorer (And It’s the Government’s Fault)
The Consumer Price Index (CPI) in the US was 9.1 percent in June.
