The Fed

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Albert K. Lu

The Fed's balance sheet has risen to $4.1 trillion from $3.7 trillion in August. Nomi Prins discusses what this policy shift means and what it portends for 2020.

Robert P. Murphy

Why do we have money in the first place? Where does it come from, and what determines its form? What qualities make for a good money? What role do banks play—is it something other than what money itself does for us?

Robert P. Murphy

Why do we have money in the first place? Where does it come from, and what determines its form? What qualities make for a good money? What role do banks play—is it something other than what money itself does for us?

Ryan McMaken

During December 2019, year-over-year growth in the money supply was at 5.53 percent. That's down from November's rate of 5.9 percent, but was up from December 2018's rate of 3.90 percent.

Robert P. Murphy

Economist Robert Murphy lays out the purpose and structure of his upcoming book Understanding Money Mechanics, a guide to the Federal Reserve System that is a must-read for laymen.

Robert P. Murphy

The original justification for the creation of another central bank did not allude to the modern goals of “full employment” and “price stability.” Rather, the pleas of the time called for an “elastic currency” that would expand or contract according to the “needs of trade.”

Robert P. Murphy

The original justification for the creation of another central bank did not allude to the modern goals of “full employment” and “price stability.” Rather, the pleas of the time called for an “elastic currency” that would expand or contract according to the “needs of trade.”

Robert P. Murphy

The Understanding Money Mechanics series by Robert P. Murphy, is a comprehensive overview of the theory, history, and practice of money and banking, with a focus on the United States.

Joseph T. Salerno

Mr. Volcker certainly deserves credit for curbing the Great Inflation of the 1970s. However, he also merits a lion’s share of the blame for unleashing the Great Inflation on the US and the world economy in the first place.