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With his current timid, weak, and prevaricating position on price inflation, Powell is positioning himself as the new Arthur Burns, who did nothing to end 1970s inflation.
History of the Austrian School of EconomicsOther Schools of Thought
Many think cancel culture is an odd particularity of the Anglosphere. Unfortunately, it raised its ugly head at this year's Austrian Economics Meeting Europe held in Lithuania.
Economic PolicyWar and Foreign Policy
When conservatives applaud unlimited war spending, they not only harm our economy and body politic, but they give the Left a powerful talking point.
War and Foreign Policy
US foreign policy is a morass of lobbying, payouts, decisions, and power plays that violates the standards this country claims to promote.
Governments never have respected rights of free speech. Today, they restrict freedom of speech and of the press and promote falsehoods in the name of "protecting truth."
Real deflation—both monetary inflation and price inflation—is necessary, and that can only be accomplished if the Fed can resist the temptation to keep doing what it's been doing since 2008
Booms and BustsThe FedInflationBusiness Cycles
The Federal Reserve was supposed to prevent recessions that people blamed on the lack of central banking. Not surprisingly, the post-Fed recessions have been worse.
The FedInflationU.S. EconomyBusiness Cycles
The Federal Reserve is raising interest rates and we know what follows, given there has been more than a decade of malinvestments building up: severe recession.