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Alex J. Pollock

Tags Booms and BustsCentral BanksCorporate WelfareCronyism and CorporatismFinancial Markets

Alex J. Pollock is a Senior Fellow at the Mises Institute. Previously he served as the Principal Deputy Director of the Office of Financial Research in the U.S. Treasury Department (2019-2021), Distinguished Senior Fellow at the R Street Institute (2015-2019 and 2021), Resident Fellow at the American Enterprise Institute (2004-2015), and President and CEO, Federal Home Loan Bank of Chicago (1991-2004). He is the author of Finance and Philosophy—Why We’re Always Surprised (2018) and Boom and Bust: Financial Cycles and Human Prosperity (2011), as well as numerous articles and Congressional testimony. Pollock is a graduate of Williams College, the University of Chicago, and Princeton University.  His professional and academic work is available on his website.

All Works

Volcker and the Great Inflation: Reflections for 2022


Volcker’s victory over runaway inflation was not permanent, because the temptation for central banks toward excessive printing, monetization of government deficits, and levying inflation taxes is permanent.

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"Economics is Not A Science" Alex Pollock on Chicago's Morning Answer

07/19/2022Power & Market
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Who Owns Federal Reserve Losses and How Will They Impact Monetary Policy?

Money and Banking

The Fed is losing a lot of money. The Fed's  stated plan is to monetize these losses and still report a positive capital and surplus position through the use of “creative accounting.”

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Hazlitt, Hayek and How the Fed Made Itself into the World’s Biggest Savings & Loan

U.S. History


It is most helpful to think of the Fed and the Treasury as one thing—one combined government-financing operation whose financial statements should be consolidated.

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