Fed

Maybe It’s Time We ‘Stress Test’ the Federal Reserve?

Consider taking an exam without clear guidelines on what will be assessed. Many students have likely experienced this situation at least once, resonating with the frustration of preparing for an evaluation with unknown criteria. Now, imagine this teacher lacked the expertise to even grade such an exam effectively in the first place. This scenario illustrates […]

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The Fed’s Stress Tests Are a Conceited Look Backwards

To this day it’s said that mark-to-market (MTM) accounting rules are what caused existential troubles for banks and investment banks back in 2008. It sounds so compelling at first glance, but only until readers stop and imagine what the outlook for financial institutions would have been without MTM. No different. As Blackstone co-founder Stephen

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A 2025 Resolution For Fed: Have The Courage To Do Nothing

“The traditional argument against a rules-based monetary policy is that it requires Fed officials to specify too many contingencies ahead of time.” Those are the words of economist Jason Furman, chairman of Barack Obama’s Council of Economic Advisers from 2013-17, and Harvard economics professor at present. The bet here is that Furman could be persuaded to

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Conservatives Must Cease Calling For Tax-Revenue Increases

“The federal government owns a little more than one-fourth of the total land area of the United States. The time is long overdue to consider whether that is the best economic arrangement.” Those are the words of the great Thomas Sowell. How to argue with Sowell? Think of the freedom and economic progress that

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The Fed’s Critics vs Fed: Central Planners vs. Central Planners

Repeat it over and over again: there’s no interest rate, and there’s no such thing as interest rates. There are individuals, and individuals face a myriad of borrowing costs as numerous as there are people. The Fed can’t nor does it make credit easy or tight simply because an economy is people. And the

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Intel’s DJIA Exit Mocks Silly Notion Abt. Fed Boosting Stocks

Promoting his new book over the summer, economist Ruchir Sharma managed to get one of its main themes splashed all over the media: “When the price of borrowing money is zero, the price of everything else goes bonkers.” Ruchir was talking about the stock market, and promoting the falsehood that when the Fed makes

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Where’s Walter Williams As Fed ‘Cuts’ Rates 50 Basis Points?

A famous libertarian economic thinker, and memory says it was the late Walter Williams, was once presented on a talk show with the idea of a higher minimum wage. The suggestion was something like $7.25/hour to $10. In a paraphrase of Williams, he quizzically asked, “Why are you being so stingy? Why not raise

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