Economists have failed to explain the mechanism by which an inverted yield curve signals an impending recession. But the Misesian explanation of the business cycle quite easily explains the pattern we observe in interest rates.
Economic libertarianism, with its sole focus on government budgets and taxation, is a highly limiting political strategy. Libertarians should proceed as enemies of the state.
Progressives believe that economies should be run by high-IQ "experts." But successful market economies require entrepreneurs with an idea and the willingness to face uncertain economic conditions.
Not since 1981 has the inflation rate been higher than May's rate of 8.6%. Meanwhile, the Fed's idea of "quantitative tightening" is cutting its portfolio 0.5% over eight months.
The Federal Reserve is raising interest rates in hopes of reversing some of the inflationary damage it has done for more than a decade. Unfortunately, the Fed already has done incalculable damage to the economy.
