CNBC claims that the Fed has been “crying wolf” and will back off raising interest rates even a tiny bit more. See the article by Hunter Lewis on the Mises Wire : Will Janet Yellen Lend Trump a Helping Hand?
For those that follow the Fed’s rate hike hoopla, one of the more obnoxious aspects is all the “economist expectations” that are reported on throughout the year. They’ve been vocalizing their lousy expectations since 2010. Consider this one, based on a survey of “leading economists: 2012 came and went and there were no hikes. And every year since
The WSJ is reporting that Daniel Tarullo has submitted a resignation letter and will be departing the Fed Board in early April. This is an interesting resignation in light of the recent regime change in Washington. One narrative of the Trump administration has been “deregulation.” The WSJ notes that one of the two (now three) vacancies on the
On most fronts, the Trump era is off with a bang — both upsetting the status quo, but also offending numerous Austro-libertarian free market principles. Particularly, there is growing tension within the spheres of monetary and regulatory policy. Those who made themselves comfortable in the Obama administration are swiftly being uprooted by a new
On Yellen’s Humphrey-Hawkins testimony , the Reuter’s headline says it best: ”Fed on course to raise interest rates at an upcoming meeting.” Translation: Fed continues on path to do something someday. Her time before Congress was a continuation of Yellen’s unique ability to say absolutely nothing while pretending that she’s got everything under
Fed Vice Chairman Stanley Fischer’s February 11th speech at Warwick Economics Summit was built around a story from his youth: Eureka moments are rare in all fields, not least in economics. One such moment came to me when I was an undergraduate at the London School of Economics in the 1960s. I was talking to a friend who was telling me about
It’s amazing how the same set of economic data can create two very different opinions on the overrated Fed Funds hike issue. In two Bloomberg opinion pieces last week, we see the stark difference: Tim Duy: It’s Way Too Early for the Fed to Consider a March Rate Increase Charles Lieberman: The Fed is Behind the Curve To make their cases, both
Well, the Fed released the minutes of its January FOMC meeting and lo and behold, there was nothing of interest. It was the same bland “Real Soon Now” talk regarding rates, coupled with a dose of “we don’t really have a clear picture just yet.” Imagine that. They’re going to keep their eye on inflation trends and the unemployment rate, which is
Minouche Shafik of the Bank of England recently spoke to the Oxford Union in defense of the monetary Experts. The “Experts,” she pointed out, “have come in for a great deal of criticism of late.” She suggests this phenomenon may have something to do with the 2008 financial crisis. She also mentions various currency manipulation and interest rate
The story is that it is consumers that are going “to push the economy to grow more than 2 percent this year.” That’s Dallas Fed President Robert Kaplan’s recently expressed view. It’s the old fallacy of spending — rather than saving — our way into growth. It’s remarkable that no one talks about the fact that the economy since 2008 was built on
What is the Mises Institute?
The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.
Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.