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From lifeline to lifestyle: How quantitative easing became the Fed’s default setting
The nomination of Kevin Warsh has renewed scrutiny of the Federal Reserve’s expanding role in the economy. One of the most consequential shifts in US…
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Dual mandate, dual headache: Why the Fed should focus on price stability
With Kevin Warsh set to appear before the Senate for his Fed confirmation hearing, the question of his monetary priorities is taking center stage. Warsh…
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Questions Kevin Warsh needs to answer if he is to become the next Fed Chair
A new CEI paper out today by John Berlau, Ryan Young, and myself offers some questions that Federal Reserve Chair nominee Kevin Warsh should…
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The Federalist
It’s Time For Congress To Take Out America’s Regulatory Trash
The Federalist cites CEI on yearly regulations: According to the Competitive Enterprise Institute (CEI), 2019 was the only year on record in which…
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There is no such thing as a free lunch, especially under MMT.
Modern Monetary Theory (MMT) has emerged in recent years as a highly-debated economic concept, challenging traditional views on national debt and money. MMT is a…
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A rule for the Fed
The Washington Examiner is running a series of pieces on policies the next administration should pursue. My contribution details a way to contain inflation…
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Fed flirts with stimulus
As expected, the Federal Reserve signaled its commitment to fighting inflation by holding interest rates steady at this week’s Federal Open Market Committee meeting. It…
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Weak GDP is first stress test for inflation fighters
I have been saying for a while that inflation expectations will remain high until policymakers prove they can restrain their stimulus spending during an economic…
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February inflation stays high, fiscal credibility remains a problem
Headline CPI inflation numbers sped up in February. Monthly inflation increased 0.3 percent in January, and 0.4 percent in February. Year-to-year inflation is 3.2…