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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, and is the co-author of Surprised Again! — The Covid Crisis and the New Market Bubble (2022). 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

Jason Furman’s Failed Defense of the Fed

10/04/2023Power & Market
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Reforming the Federal Reserve

10/04/2023Power & Market
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How Is the Fed Insolvent and Why Should We Care?

Economic PolicyThe FedInflationMonetary Theory

09/30/2023Mises Media
Alex Pollock explains to Bob the mechanics of the Fed's current insolvency and its implications for ordinary Americans.
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Lots of Red Ink at the Fed

Money and Banks


The Fed wants you to believe that neither its negative capital nor its giant losses matter because it is the Fed and can print money. But it does matter because the Fed’s losses will cost not only it, but also the Treasury and the taxpayers, over $100 billion this year.

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