Blog
Reading the fine print on unemployment
When politicians talk about unemployment, it is worth remembering an old principle: buyer beware. The unemployment rate is a statistic, but politicians can transform…
Blog
Are stablecoins already delivering what CBDCs promise?
Many proposals for a central bank digital currency (CBDC), a digital form of the US dollar issued by the Federal Reserve, have circulated…
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Why the 5 percent Treasury bond interest rate matters
The recent rise of the 10-year Treasury yield to 5 percent has set off alarm bells among economists, policymakers, and investors. While the…