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Paul H. Kupiec

Paul H. Kupiec is a senior fellow at the American Enterprise Institute.

All Works

How the Fed’s 2008 Mortgage Experiment Fueled Today’s Housing Crisis

U.S. Economy

Any realistic review of the Federal Reserve’s MBS experiment would conclude that the Fed should stop buying mortgages.

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The Fed’s Quantitative Easing Gamble Costs Taxpayers Billions

Monetary PolicyMoney and BanksU.S. Economy

At current interest rates, the Fed’s operating losses will impact the federal budget for years, requiring new tax revenues to offset the continuing loss of billions of dollars in the Fed’s former remittances to the US Treasury.

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Central Banks: Profligacy in Lockstep

World History

The world's central banks ran up their risk, all together, and now the big risks they assumed are turning into losses all around the central bank club.

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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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