Fed chairman Jerome Powell recently claimed they were "targeting" the "neutral" interest rate. The Fed cannot set or even know that rate, for it doesn't come from government authorities.
Ryan McMaken and Tho Bishop take a look back at previous statements by current members of the Fed.
While the usual characters praise central banks for supposedly bringing economic stability, Dr. Shostak explains that their presence makes things unstable because they break the relationship between saving and lending.
The Fed is, effectively, a car driving at night, very fast, with no headlights. That is a real threat, probably to an unprecedented degree.
If you’re in trouble, you stop spending on frivolous stuff and you save. It applies on a personal level; it applies on a national level. But the fiat world just flips all of this on its head.
Bob provides a running refutation of Stephanie Kelton's recent TED talk on Modern Monetary Theory (MMT).
Using a recent Paul Krugman column as the jumping off point, the Mises Institute Academic Vice President Joe Salerno explains and defends Austrian business cycle theory.
Nikolay Gertchev reviews Arkadiusz Sieron's effort to investigate the failure of expansionary monetary policy to address the challenges of the 2008–09 Great Recession.
