Will this Finally Be the Year the Fed Cuts its Balance Sheet?
Now that the Fed has slightly upped its Fed Funds rate target twice, there is talk of a much more ominous issue: shrinking the balance sheet.
Money and Banks
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Should Cash be Abolished?
The usefulness of money depends on it having some connection to physical money. Reducing money to a digitized abstraction would be a disaster.
Can Technology Prevent a Recession?
Technology doesn't tell us much about whether we're prone to a recession. The much larger issue is inflation-induced misallocation of resources.
German Inflation Anxiety Could Bring an Election Shock in 2017
With German elections approaching, Germans may grow tired of monetary instability forced on them for the sake of saving the Italian economy.
The Money Myths Behind the Creation of the Federal Reserve
Roger Lowenstein's new book on the Federal Reserve relies on some well-worn myths about the monetary history of the United States.
The Fed Needs Competition, Not Rules
If a monetary rule like the Taylor Rule is not a solution to the problem of the Fed, what is? Competition.
Dollar Retreats from Highs as FOMC Stays Skittish
The Fed keeps hinting that it plans to raise the target rate more than once this year. But, the Fed's level of confidence is near zero.
Week in Review: January 7, 2017
This year, our attention will be toward the Fed and central banks, as the world's financial elites try to navigate increasingly volatile waters.
Patrick Barron: Negative Interest Rates Demystified
Patrick Barron explains how and why negative interest rates arise.
What Is This “Neutral” Interest Rate Touted by the Fed?
The Fed says it can use a "neutral interest rate" to set policy. But, Fed economists don't understand how the neutral rate works.
