Power & Market

Central banks can heavily distort interest rates, but it's human action and time preference that ultimately decide interest rate levels.

June 14 marks Flag Day, commemorating the Second Continental Congress’s authorization for a new American flag.

Until interracial marriage restrictions were abolished in the 1950s, Colorado had two sets of marriage laws: one for the northern Anglo-dominated part of the state, and a second rule for the southern state, formerly part of Mexico.

Who has the best claim to government property?

The Fed expects to have “no rate increase at least through 2022.”

With countless challenges ahead, it will sadly be up to a handful of wealthy elites to steer the economy in the direction they see fit.

Unfortunately for the rest of us, all losses from the PPP will be added to the mortgage that Mnuchin and friends have taken out against our future.

This theory of pent-up demand proposes a false notion that the economy is merely incubated in some kind of suspended animation, as though all the people currently confined to their homes were effectively frozen in time, ready to resume hammering nails or typing emails with a click of the government’s magic pocket watch.

When the Fed board meets next week, they'll likely pick one of three options. They're all bad, but some are downright ugly.

The next time lockdown fetishists demand more coerced social distancing, many will say: "Social distancing didn't matter to these experts very much back during the protests in June. Why should we believe them now?"