The Fed

By all measures, the economic downturn that began in 1920 was worse than what occurred in 1930, yet the economy recovered quickly in 1921. Why the difference?

Only Father Time helps us cut through the policy nonsense and understand interest rates conceptually.

The US monetary system is out of sorts and out of control. The authors show a path back from the inflation brink to monetary soundness.

One hardly can imagine a better tool of social control than a digital currency. Not surprisingly, U.S. monetary authorities are moving in that direction.

Money supply growth slowed even more in October, and is now back to levels we last saw during the repo liquidity crunch of 2019, and in the days right before the 2007–09 recession. 

It is easy to think of the Fed as a good institution that simply lost its way. In truth, it was a bad idea and a bad institution from its beginning.

The US monetary system is out of sorts and out of control. The authors show a path back from the inflation brink to monetary soundness.

For all the positive talk, Americans are piling on more debt just as real wages are falling, job losses are mounting, and debt costs are rising. Thanks, Fed! 

Federal Reserve officials, for all of their alleged wisdom and education, have a knowledge problem. Hayek and other Austrians could have told them their grandiose plans will fail.

It is easy to think of the Fed as a good institution that simply lost its way. In truth, it was a bad idea and a bad institution from its beginning.