The Folly of Federal Reserve Stabilization Policy: Part II 1985-2023
Many economists think the Federal Reserve can use Phillips Curve tradeoffs between inflation and unemployment to guide Fed macro stabilization poli
Power & Market
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Elon’s Boring Line of Bull
Something’s rotten under the Las Vegas Convention Center and it turns out it’s a chemical sludge with the “consistency of a milkshake,” reports
A Black Man’s Inconvenient Truth: Canceling Racist Historical Omissions
Can a Black man communicate inconvenient truths? One did and a reporter for The Root, a Black on-line magazine, labeled them foolishness.
Australian Government Blames Grocery Retailers for Inflation
In 2024 the Australian senate is establishing an inquiry into Coles and Woolworths, the two biggest grocery retailers in the country.
The Fed Has Busted Housing Bubble 2.0
If the housing market is an indicator, the Fed's actions in slowing down the housing market soon will be reflected in the economy itself.
The Folly of Federal Reserve Stabilization Policy: Part I 1948-1985
The Federal Reserve Board is responsible for formulating macro stabilization policy.
The Fed Cannot Cut Rates as Fast as Markets Want
Market participants started the year with aggressive expectations of rapid and large rate cuts.
Current PCE Inflation: 4.1%
The Bureau of Economic Analysis released January figures for Personal Consumption Expenditures (PCE) today, including the price index based on that data.
GDP Growth Is Inflated by Massive Deficit Spending
Over the past year, economist Daniel Lacalle has repeatedly warned that the United States is in the midst of a “private sector recession” and that official GDP measures are being propped up by government spending.
