Debunking the Myths about Central Banks
Myths govern modern central banking. Like many myths, they contain an element of truth that has been distorted by exaggeration and misapplication. This year marks the 100th anniversary of the U.S....
View ArticleWhere's the Inflation? Coming to Your Neighborhood
In December 2008, the Federal Reserve drove down the overnight federal funds rate to near zero. In March 2009, it announced an aggressive program to purchase mortgage backed securities.These actions...
View ArticleAmerica's Two Economies: Wal-Mart and Wall Street
Successive economic reports on consumer behavior have sown confusion among analysts. For instance, a recent newspaper headline read: “Wal-Mart Deepens Gloom as Retailers Feel Left Behind.”It’s not just...
View Article100 Years Later, Was the Federal Reserve a Good Idea?
With the Fed in its centennial year, Janet Yellen facing confirmation hearings in the Senate, and questions swirling over whether the Fed will enact “tapering,” many monetary scholars are asking: Was...
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