Cato Monetary Conference, Fed, Federal Reserve, Richard Clarida, Monetary Alternatives

Improving the Monetary System Since 1983, the Cato Institute’s Annual Monetary Conference has brought together leading scholars and policymakers to discuss important issues in the conduct of monetary policy and steps that might be taken to improve the existing system.  The conferences have also considered ideas for…

Irving fisher, monetary disequilibrium, stable money, sound money, monetary reform

Irving Fisher’s classic treatise, The Purchasing Power of Money: Its Determination and Relation to Credit, Interest and Crises (1911), still offers valuable insights regarding monetary reform. This post examines some of Fisher’s insights and draws some lessons for Fed policy. The Importance of Stable Money Fisher recognized…

monetary policy, normalization, Federal Reserve, Fed, 2008 financial crisis

Ten years after the 2008 financial crisis we are again facing the possibility of economic turmoil as the Fed and other central banks exit their unconventional monetary policies by raising interest rates and shrinking their balance sheets. Although central banks will move gradually, unforeseen circumstances could trigger…