Postal Banking

This essay, the first of a series on government efforts to bank the “unbanked,” reviews the history of postal banking and its deleterious role in the Great Depression. Subsequent posts will discuss contemporary proposals for government involvement in retail banking, such as through the U.S. Postal Service…

The Fall 2020 issue of the Cato Journal covers several key topics in monetary policy: (1) the risk to the Federal Reserve’s independence and credibility as it drifts into fiscal policy; (2) the effectiveness of negative interest rates as a tool of monetary policy; (3) the impact…

Consumers should be free to choose their bank,.

According to the FDIC, 8.4 million U.S. households lacked a bank account as of 2017, putting America behind other rich countries. Minorities and the young are heavily overrepresented among the unbanked, so addressing this problem is a matter of both financial inclusion and equal opportunity. Fortunately, the…