The Fed

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Frank Shostak

Fractional-reserve banking systems create money out of thin air, and this causes malinvestments into less valuable and less productive activities. Eventually, banks realize there's trouble ahead, so they cut back on loans which leads to deflation and crisis.

James G. Rickards

The continuing power of the US dollar was called into question this week as the International Monetary Fund added the Chinese yuan as a part of the IMF's "currency" known as Special Drawing Rights. What does this mean for the US and China?

Tommy Behnke

Republicans and conservative think tanks are apparently convinced that the key to improving the Federal Reserve is to create a "rules-based" monetary policy. But, as is so often the case with economics, things are much more complicated than they seem.

Mises Institute

There were many state and local elections in the US this week, but few of them will result in anything that will combat widely held and popular errors about central banking, drug prohibition, and the global environment.

Jonathan Newman
In Janet Yellen's Q&A with the House Financial Services Committee, Rep. Tom Emmer asked about the possibility and consequences of negative interest rates.
Ronald-Peter Stöferle

Given the current state of the economy, the Fed appears quite unlikely to raise interest rates any time soon. But what will it do if the economy starts to really go south?

Mises Institute

The Fed's Federal Open Market Committee renewed its commitment to easy money this week. The Fed will pretend to be committed to raising rates while doing nothing, and its ongoing war against deflation will continue to make us poorer.

Frank Shostak

The problem with the central bank's easy-money policies is not primarily that it leads to rising prices. The big problem is that it leads to the crippling of the wealth creation process and the movement of resources from productive to non-productive sectors.