Setting the boundaries between fiscal and monetary policy.

Not long ago, the CMFA staff and I were preparing to officially launch The Menace of Fiscal QE, my book aimed at countering efforts to have the Fed undertake or otherwise fund off-budget government spending programs. Then came the crisis. Of course our plans were dashed. But…

monetary policy, cj, cato journal

The winter 2020 edition of the Cato Journal is now available online! Articles in this issue discuss a range of topics—from the proper size of government, to the relationship between tariffs and monetary policy, to the life and legacy of Frederick Douglass. Below, you’ll find summaries of each article, with links to the full-text versions embedded in the titles.

fed independence, alternative currencies, fed, federal reserve, cato monetary conference

  From President Trump lobbing invectives against Federal Reserve Chairman Jerome Powell on Twitter to progressives clamoring for the Federal Reserve to use monetary policy to finance social projects, our central bank’s independence looks increasingly tenuous. Recently, Chairman Powell called for an internal "strategic review" of how…

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…