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Ideas for an Alternative Monetary Future

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Ideas for an Alternative Monetary Future

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About Gerald P O'Driscoll
Gerald O’Driscoll is a senior fellow at the Cato Institute. He is a widely quoted expert on international monetary and financial issues. Previously the director of the Center for International Trade and Economics at the Heritage Foundation, O’Driscoll was senior editor of the annual Index of Economic Freedom, co-published by Heritage and The Wall Street Journal. He has also served as vice president and director of policy analysis at Citigroup. Before that, he was vice president and economic advisor at the Federal Reserve Bank of Dallas. He also served as staff director of the Congessionally mandated Meltzer Commission on international financial institutions. O’Driscoll has taught at UCSB, Iowa State University and New York University. He is widely published in leading publications, including The Wall Street Journal. He appears frequently on national radio and television, including Fox Business News, CNBC and Bloomberg. He is a member of the Mont Pelerin Society, and is a director of the Association of Private Enterprise Education. O’Driscoll holds a B.A. in economics from Fordham University, and an M.A. and Ph.D in economics from UCLA.
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dual mandate, FOMC, labor force participation, Phillips Curve, Unemployment
Money & Politics, News, The Fed & Central Banks

The Jobs Conundrum

Gerald P O'Driscoll/June 8, 2017June 19, 2022 /3 Comments

At next week’s FOMC meeting, the state of the labor market will play a key role in policy deliberations. But there’s a lot more going on underneath top line unemployment numbers that make them a bad tool for monetary policy decision-making. The May employment report is a…

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Allan Meltzer, UCLA, Austrian School, Chicago School, Shadow Open Market Committee
Economic History, Economic Thought, News

Allan Meltzer Remembered

Gerald P O'Driscoll/May 10, 2017June 19, 2022 /2 Comments

Like Allan Meltzer, I received my Ph.D. from UCLA. He and his major professor, Karl Brunner, had both left by the time I arrived. UCLA is an important intellectual connection. At the time, UCLA was informally known as “Chicago West,” for its intellectual affinity to the University…

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bank lending, dual mandate, FOMC, interest on reserves, unconventional monetary policy
Money & Politics, News, The Fed & Central Banks

Does Monetary Policy Have a Future?

Gerald P O'Driscoll/November 2, 2016June 19, 2022 /19 Comments

I have chosen a provocative title, but it is fully justified. Fed officials are flying on autopilot, but the controls don’t work anymore, or at least not reliably. Fed watchers are largely clueless. The investment community and the economy may be collateral damage. Let me begin by…

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capital inflows, excess reserves, interest on reserves, negative interest rates, short term Treasuries, fed funds rate, repos
Money & Politics, News, The Fed & Central Banks

Can the Fed Raise Interest Rates?

Gerald P O'Driscoll/August 9, 2016June 19, 2022 /10 Comments

I chose my title carefully. I will focus on what is possible for the U.S. central bank to achieve rather than what they might want to accomplish or may attempt to effect.  I examine three possible senses in which the Federal Reserve could not raise interest rates,…

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Brexit, currency area, England, European Union, Pound Sterling
Financial Markets, Money & Politics, News

Brexit and Beyond

Gerald P O'Driscoll/June 30, 2016June 19, 2022 /4 Comments

In this post, I will stray a bit from monetary issues but not too far.  The British people voted last Thursday (June 23rd ) to exit the European Union.  How should that decision be viewed by classical liberals?  Do Americans have a stake in the outcome?  Should…

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About Us

Welcome to Alt-M, a community devoted to exploring and promoting ideas for an alternative monetary future. Our goal is to reveal the shortcomings of today’s centralized, bureaucratic, and discretionary monetary arrangements, and to bring serious consideration of real alternatives to the center stage of current monetary and financial reform debates.

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