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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…
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The Debt Ceiling and the Trillion-Dollar Coin
Another debt ceiling battle is brewing, and pundits are debating what to do about it. Over at National Review’ Capital Matters, I take a look…
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Federal Reserve Declines to Become Climate Regulator
Most agencies can either do one thing well or many things poorly. For example, the Federal Reserve would be perfectly capable of keeping inflation low…
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Agenda for Congress: Inflation
CEI’s Agenda for Congress is out now. This post summarizes its recommendations for inflation. Since inflation is mostly a monetary phenomenon, it is…
News Release
Fed Raises Rates Again to Slow Inflation
The Federal Reserve has been trying to slow inflation by raising interest rates, today issuing its smallest rate increase since June – raising the federal…
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Gas Prices Are Lower than a Year Ago: What Does that Mean for Inflation?
Even with inflation near 40-year highs, gas prices are lower than a year ago, and not just in real, inflation-adjusted terms. They’re lower even…
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Retro Review: George Selgin, Less Than Zero: The Case for a Falling Price Level in a Growing Economy (Institute of Economic Affairs, 1997)
This year, inflation reached levels not seen in 40 years. The Federal Reserve spent most of 2022 trying to undo its runaway money creation in…