Politicians are human. So are central bankers. Since central bankers are human, it’s a fact of life that their personal feelings, biases and politics will inform their decisions. It’s something to think about as allegedly free-market economic types pursue a rules-based Federal Reserve. Of the view that “monetary policy rules” will somehow restrain the […]
There’s No Such Thing As a ‘Apolitical’ Fed, Nor Does It Matter Read More »
Back in March of 2020, former Federal Reserve Board member Kevin Warsh penned an opinion piece for the Wall Street Journal (“Let the Fed Administer an Antiviral Shot”) calling for the Federal Reserve to provide “liquidity” to American businesses crushed by lockdowns instituted by coronavirus-panicked politicians. Instead of recommending a cessation of the lockdowns
Neither Govt Spending Nor Fed Printing Brought Higher Prices Read More »
The Federal Reserve doesn’t need to adopt a “Monetary Policy Rule.” Not only would the central bank shed the pretense of rules-based constraints on its power during times of upheaval and uncertainty as is, there’s no good time for meddling by central banks, or for that matter any governmental entity. Market intervention is always
A ‘Monetary Rule’ Doesn’t Suddenly Validate Mkt. Intervention Read More »
