Watching the frenzy surrounding Judy Shelton's confirmation hearing before the Senate Banking Committee on February 13, one is led to believe that the gold standard is a "nutty" idea, for which no serious economist or monetary policymaker could possibly have a kind word. This post critiques that…

On Feb. 5, I had the pleasure of addressing the annual conference of the Receivables Management Association International in Las Vegas. Below is a transcript of my speech. ***** Thank you for the opportunity to address you this morning. It has become so easy to borrow in…

The Community Reinvestment Act is supposed to ensure that banks lend to low- and moderate-income households wherever they operate. But there are reasons to doubt its effectiveness. In the Washington Post this summer, I reported findings (from a forthcoming paper with Andrew Forrester) that more than two-thirds…