Money-market mutual funds (MMMFs) have had a turbulent couple of weeks. On March 18, the Federal Reserve System created a Money Market Mutual Fund Liquidity Facility (MMLF) to "assist money market funds in meeting demands for redemptions by households and other investors." What's the source of the…

Quack doctor tries to sell snake oil.

In the latest installment in his series, "Understanding Money Mechanics," Bob Murphy takes on Market Monetarism, and Scott Sumner's case for having central banks practice NGDP level targeting in particular.  A commentator there writes, "I hope George S. pipes up to defend MM! Seeing the other side…