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Lessons Kevin Warsh can learn from the late Alan Greenspan
Alan Greenspan’s recent passing provides an opportunity to reassess his legacy as Chairman of the Federal Reserve and consider the lessons Kevin Warsh can…
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Before reform comes review: What Warsh’s task forces could mean for the Fed
Major institutional reforms rarely begin with sweeping policy changes. More often, they begin with a willingness to reexamine long-standing assumptions. That is what makes…
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Remembering Alan Greenspan
Alan Greenspan passed away this week. National Review was kind enough to run my remembrance of him: There…
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What Is Core Inflation?
The new inflation numbers are out, and they aren’t pretty. The Consumer Price Index (CPI) went up 0.3 percent during April, and is…
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Biden’s Inflation Speech: Top Domestic Priority
President Biden gave remarks on Tuesday declaring inflation his top domestic priority. Like many people, he seems not to understand that inflation is…
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Fed Hikes Interest Rate: Bigger News on Bond Portfolio Mostly Neglected
The Fed this week announced a half percentage point hike in its federal funds rate. This is the right thing to do, but…
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GDP Shrinks: The Good and the Bad
The advance estimate for 2022’s first quarter gross domestic product (GDP) is in, and the news is not good. Adjusting for inflation, GDP…
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Inflation Rises to 8.5 Percent: Straining for Optimism
High inflation will likely be with us for a while, which means I’ll be writing a lot of posts like this. So, for the…
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Inflation and the Biden Budget
It is good that the Biden administration is beginning to take inflation seriously. Unfortunately, however, there isn’t much that the president and Congress…