Should The Fed Regulate Asset Prices?
The idea might seem crazy at first, but it follows logically from a model in which beliefs about future asset prices (‘animal spirits’) have real effects on output and employment. […]
Fed Critics Are Wrong
People have blamed the Fed for the rise in US inequality, but this is hard to square with the facts. Fed criticism mostly comes from people subscribing to hard money […]
Japan Defies Hard Money Economics
Japan proposes an interesting challenge to hard money economics, having embarked on seemingly massively irresponsible fiscal and monetary policies. One has to keep in mind that these lessons, as extraordinary […]
Is The Fed Is Behind The Wrong Curve?
Debt to GDP ratios have kept on rising since the financial crisis in most of the world, in some parts at alarming rates. While we wholeheartedly agree with the BIS […]
The Great Unwinding
The Fed (and other central banks) has amassed a great amount of assets, bloating its balance sheet. The Fed has started signaling to the markets that it is considering starting […]
Why The Fed Critics Are Wrong | Seeking Alpha
The Fed is under a host of criticism for its accommodating monetary policy. We think the criticism is largely missing the mark. It’s much easier to recognize asset bubbles after […]
‘QE Will Permanently Impair Living Standards For Generations To Come’ | Seeking Alpha
In some corners, “money printing” is like the original sin, it’s blamed for all economic problems and language tends to go into overdrive. Closer inspection reveals that behind much of […]
The Day The Central Bank Powers Came To An End
Central banks in the developed world have just about thrown everything and the kitchen sink at the forces of deflation, with fairly little to show for it. After the US […]