Blog
Highway robbery in plain sight and how to fix the Highway Trust Fund
Established to provide a dedicated, user-financed stream for highway investment, the Highway Trust Fund (HTF) was once a model of fiscal alignment between…
Blog
The limits of balance sheet runoff at the Fed
At his confirmation hearing last week, Kevin Warsh called for a smaller Federal Reserve balance sheet. This statement revives debate over how the…
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A quantitative easing hangover has the Fed in a balance sheet trap
As Kevin Warsh undergoes the Fed Chair confirmation process, debate has returned to the Federal Reserve’s balance sheet and how it should be managed…
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Quantitative easing and the Fed’s free lunch problem
As Kevin Warsh undergoes his confirmation process for Fed Chair, one of the most consequential yet least straightforward issues in modern monetary policy is…
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Forward guidance is not a crystal ball: A case for rules-based monetary policy
Throughout history, the urge to predict the future has been hard to resist. The Federal Reserve is not immune to such temptation. In recent…
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The quartz tariff case and why tariffs cause net job loss
Last year, domestic quartz surface product manufacturers filed a petition with the US International Trade Commission (ITC) seeking relief from quartz imports. The…