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August 7, 2023
Blog

Whose Liability Is It Anyway? CBDC Edition
Being a direct liability of the central bank is a defining feature of a CBDC. In practice, that trait means destabilizing the financial system is a defining feature of a CBDC.
By Nicholas Anthony
August 1, 2023
Blog

The U.S. Economy Has Been Indeterminate Since the Financial Crisis
Since the financial crisis, the Fed’s discretionary policymaking has led to an indeterminate economy.
By Jai Kedia
July 27, 2023
Blog

Why Argentina Should Dollarize
The best way to tackle inflation in Argentina is to get rid of the Argentine peso and adopt the U.S. dollar as the official currency.
By Daniel Raisbeck and Gabriela Calderon de Burgos
July 25, 2023
Blog

More Senators Target Financial Privacy with “CANSEE Act”
Combatting the financial crimes of the Lazarus group, scammers, and the like does pose a challenge. But sacrificing the foundations that the United States was built upon is no solution.
By Nicholas Anthony
July 20, 2023
Blog

Unlikely Senate Alliance Proposes Cryptocurrency Surveillance
Senators Lummis and Gillibrand appear to have largely adopted this section from a separate bill introduced by Senators Elizabeth Warren (D-MA) and Roger Marshall (R-KS).
By Nicholas Anthony
July 17, 2023
Blog

Wasn’t Lower Inflation Supposed to Be Impossible without Higher Unemployment?
The Fed and academic economists are not easily dissuaded by troublesome facts.
By Alan Reynolds
July 12, 2023
Blog

The Fed Should Continue to Hold Steady
Based on the latest CPI numbers, we reiterate our recommendation that the Fed should keep its target rate unchanged.
By Jai Kedia
July 10, 2023
Blog

What Does Financial Privacy Mean for Liberty?
Privacy is foundational for protecting freedom.
By Nicholas Anthony
July 6, 2023
Blog

CBDC Legislation Recap
Ideally, Congress will prevent both the Federal Reserve and the Treasury from creating a CBDC in retail, intermediated, and wholesale forms.
By Nicholas Anthony
June 29, 2023
Blog

“Greedflation” Is an Accounting Identity Not an Economic Explanation
Greedflation is an accounting exercise that does not, and cannot, offer an explanation for inflation.
By Jai Kedia
June 27, 2023
Blog

Americans Should Not Expect the Fed to Lower “Services” Inflation
There is little reason to expect monetary policy to have much of an effect on prices in the services industry - it has historically contributed very little to inflation, services or otherwise.
By Norbert Michel and Jai Kedia
June 15, 2023
Blog

Inflation Has Been Coming Down So Fed’s Rate Pause Is Reasonable
On Wednesday the Fed decided to keep its rate target steady, in a range of 5.0 percent to 5.25 percent. On the heels of one of the steepest rate-increasing campaigns in its history (the target was near zero in February 2022), Fed officials are selling this choice as a pause.
By Norbert Michel and Jai Kedia
June 13, 2023
Blog

Ambiguous Economy Is the Latest Result of Fed’s Increased Discretionary Behavior
While the Fed’s recent performance has garnered significant media attention, this failure is only the latest episode in a long-term trend of discretionary behavior dating back to 2009.
By Jai Kedia
June 12, 2023
Blog

The Fed’s Questionable CBDC Campaign
The problem, however, is that the quote supplied is only half of what Chair Powell told Congress.
By Nicholas Anthony
June 7, 2023
Blog

Standard Econ Model Bridges the “Unfortunate Events” and “Original Sin” Explanations for Inflation
Record inflation isn’t a story of supply problems or poor policy, it’s a story of supply problems and poor policy.
By Jai Kedia