Economists from across the political divide are worried about inflation. In May, Lawrence Summers warned about the increasing risk of inflation. More recently, John Greenwood and Steve Hanke argued that […]
Tag: Central Banking
Powell Pivots as Inflation Picks Up
For the past few months, Federal Reserve Chair Jerome Powell has assured markets that high inflation would be temporary, as prices would naturally fall once supply constraints ease up. Testifying […]
Negative Interest Rates and the ECB’s Brave New Credit World
While the US Federal Reserve is making significant efforts to prevent the money market rate from falling below zero with the help of so-called reverse repurchase agreements, negative interest rates are […]
The IMF Should Be Eliminated, Not Expanded
I’m not a fan of the International Monetary Fund (IMF). Since I work mostly on fiscal issues, I don’t like the fact that the bureaucracy is an avid cheerleader for […]
Is Larry Summers Channeling Benjamin Anderson?
Larry Summers, who served as U.S. Treasury Secretary under Bill Clinton, and head of the National Economic Council in the early years of the Obama administration began sounding the alarm […]
Is Inflation Above the Fed’s Target?
The Bureau of Economic Analysis reported year-on-year inflation of 4.3 percent for August. The annual rate of inflation was 4.2 percent in July, up from 4.0 percent in May and […]
The Federal Reserve Is Not Credible
Inflation remained high in August, latest data show. The Personal Consumption Expenditures Chain-type Price Index (PCEPI) grew at a rate of 4.3 from August 2020 to August 2021. The PCEPI […]