CFPB, checks and balances, cognitive capture, primary dealer, regulatory capture, the Fed

After spending some years in both legislative and regulatory policy roles, I’ve come to even more strongly believe that almost everything you really need to understand regulation can be found in Peltzman’s classic 1976 extension of Stigler’s original economic model of regulation. Almost everything. What I find lacking is recognition…

behavioral economics, Market Monetarism, monetary rules, NGDP targeting, Taylor Rule

Earlier this month a crowd of over a hundred and fifty gathered at George Mason University’s Arlington Campus for an academic conference co-hosted by the Mercatus Center and the CMFA. The conference, “Monetary Rules for a Post-Crisis World,” featured leading monetary economists, Washington’s top financial journalists, and…

titanic, ffr, FOMC, monetary control, Open Market Operations, SOMA, fed funds rate

It's high time that I got 'round to the subject of "monetary control," meaning the various procedures and devices  the Fed and other central banks employ in their attempts to regulate the overall availability of liquid assets, and through it the general course of spending, prices, and…