The War on Cash: Haldane Edition
byThe Adam Smith Institute have recently published my report “Killing the Cash Cow: Why Andy Haldane is Wrong on Demonetisation” on Andy Haldane’s proposal…
Central Banking
Fed’s policy of price stability results in more instability
byFor most economists the key factor that sets the foundation for healthy economic fundamentals is a stable price level as depicted by the consumer…
Accommodative Monetary Policy is Encroaching on Fiscal Policy
byWe believe that the ECB is presently using monetary policy in effect to conduct fiscal, as well as monetary policy. Elected politicians should be…
The Next Step in Europe’s Negative-Interest-Rate Experiment
byThe European Central Bank (ECB) pushed its deposit rate to minus 0.4 percent in April 2016: Since then, euro area banks must pay 0.4…
Benn Steil: RMB Globalization, Once “Unstoppable,” Heads Into Reverse
by“The globalisation of the [Chinese RMB] seems remorseless and unstoppable,” the Economist pronounced in April 2014. A year later, a research-grant foundation asked me…
Auditing the Fed Is Now More Important than Ever
byBy Jonathan Newman Last week, the House Committee on Oversight and Government Reform approved a bill submitted by Thomas Massie (R-KY) to allow Congress to…
‘Nowhere To Go But Up’ Survives Because The Fed Refuses To Be Honest About Its Assessment of the Output Gap
byby Jeffrey P. Snider The Federal Reserve under Ben Bernanke committed several unforgivable mistakes during his tumultuous tenure, but cumulatively they could be easily…
Zero Hedge: Two Fed Presidents Warn Markets Getting “Frothy”, Valuations “May Come Down”
byIn what was the clearest sign to date that the Fed is targeting the stock market bubble with its rate hikes (recall two weeks…
How macro-economic data helps Government and Central Bank weaken wealth formation
byIt is common for commentators and economists in their discussions to continuously refer to something called the “economy” – which sometimes performs well and…
The fateful date
byCaesar: What sayest thou to me now? Speak once again. Soothsayer: Beware the ides of March. Caesar: He is a dreamer; let us leave…