With the economy growing at 2.1%, unemployment at 3.6%, creating 170,000 jobs per month, and estimated underlying core inflation of 2%, no objective data justifies cutting rates that are already artificially low.
The Fed Chairman’s suggestion that the inverse correlation between inflation and unemployment has disappeared reveals that US central bank policymakers were previously employing a bankrupt theoretical framework to navigate the economy.
Donald Trump thinks the Fed raised rates "too fast." In truth, rates have been at remarkably low rates for the past decade. And how would Trump know how fast is "too fast" anyway?
Five names seem to be emerging as the consistent front runners in the race to become the next head of Britain’s central bank.
If I were a corporate shill, the last thing I'd want is a free-market, laissez-faire economic system.
The main indicators of the economic cycle point to a possible crisis and recession in the US economy. and maybe also in Europe.
Venezuelan politicians hoping to replace the current regime in Venezuela mostly offer just re-treads of the failed socialism the country has endured for decades.
Henry Hazlitt's The Failure of the "New Economics" published in 1959, is still the best refutation of Keynesian economics to be found anywhere — sixty years later.
The theory goes like this: capitalism combines with consumerism and advertising to make us sad, lonely, and forever chasing after material goods. So we consume endlessly and the Machiavellian capitalists reap the rewards. It's not a great theory.
