Analogies involving cars and firepower are not appropriate for monetary policy. They propagate the idea that the Fed can carefully "steer" the economy or that they have some large, heterogeneous set of policy tools, when the Fed can really only do one thing: artificial credit expansion.
Speculation is swirling as to what the Federal Reserve might do next. None of the likely next steps are terribly promising.
Central banks are in the business of price controls through monetary policy. But, when monetary policy fails, as it is doing now, central banks may look toward more broad forms of price controls as well.
Recessions are good for an economy because they involve a resolution process, but a big recession for this boom town could be great for the world economy.
The recent FOMC decision on Fed policy going forward was not unanimous. Let's take a look at who voted against the rest of the committee.
Jeff Deist discusses Austrian economics and the bizarre world of negative interest rates.
Listening to even a small portion of Simple Janet's incoherent babble makes very clear that the nation's central bank is well and truly impaled on its own petard.
We're constantly being told by the mainstream financial media that saving money will destroy the economy. In truth, only saving — which is nothing more than refraining from spending — can repair the damage done by years of easy money and reckless spending.
The Federal reserve has bowed to the interests of Wall Street and the financial sector, yet again.
Hillary Clinton has received $18,747 in campaign contributions from Federal Reserve employees — over four times more than all other candidates combined.
