The Myth of Fed Independence After the Treasury-Fed Accord of 1951
Is the Federal Reserve truly independent? Jonathan Newman uncovers the myths behind the 1951 Treasury-Fed Accord.
The Fed
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Congress Should Abolish the Fed for Failing to Achieve Its Mandates
Following World War II, Congress imposed mandates on the Federal Reserve in the areas of employment, inflation, and interest rates. Not surprisingly, the Fed has failed in all three areas. It is time to recognize failure and abolish the Fed altogether.
The Political Business Cycle 50 Years Later
William Nordhaus coined the term “Political Business Cycle” a half-century ago. The idea was that government authorities, particularly the central bank, would manipulate the economy to correspond with election cycles, a practice that continues to this day.
David Hume’s Insights Explain America’s Economic Decline
The Trump White House has enacted tariffs in the belief that other countries are “cheating” by enacting tariffs against US goods and “manipulating” their currencies. However, with the US dollar being the world's reserve currency, the US has engaged in dollar manipulation through inflation.
Powell, Trump, and the Austrian Business Cycle Time Bomb
Mark Thornton cuts through the noise to explore the real economic threats facing America.
Should Economists Champion Fed “Independence”?
As Trump challenges Powell and the Fed’s authority, Dr. Joe Salerno joins Bob to dive into whether "central bank independence" really protects the economy—or just shields elite power.
Big Government is the Largest Driver of Inflation
Politicians and central bankers assure us that they are diligently “fighting” inflation. Actually, they are fighting inflation the same way that an arsonist fights against the fires he just set. Government is the inflation arsonist.
A Crisis Was Ordered Long Ago
The ruling classes and their media blamed the 2008 financial crisis on free markets and too little government regulation. However, because the Federal Reserve promised to help cover losses in financial markets, it practically invited reckless behavior.
Do Central Bank Interest Rate Cuts Strengthen the Economy?
According to Keynesian “economics,” central bank interest rate cuts will make the economy stronger—unless the economy is in a “liquidity trap.” The truth is that these kinds of monetary tricks actually weaken the economy.
Does the Fed Shave with Occam’s Razor?
The principle of Occam‘s Razor states that we should avoid superfluous activity. When it comes to our monetary system, however, the Federal Reserve System doesn't simplify things, but instead complicates the economy. That alone is reason for it to be abolished.
