The Cato Institute's newest book, Gold, the Real Bills Doctrine, and the Fed: Sources of Monetary Disorder, 1922–1938 is out now — and it's already getting rave reviews for challenging conventional wisdom on the Great Depression. In Gold, the Real Bills Doctrine, and the Fed, preeminent monetary…
As the 2020 presidential election season heats up, Federal Reserve Chairman Jerome Powell is being pushed from all sides. President Trump has castigated him for overly tight monetary policy and has implied that Powell is a “bigger enemy” than Xi Jinping. Meanwhile, William Dudley, who recently headed…
Thanks to President's Trump's picks for prospective Fed Board nominees, the subject of gold price targeting (or a gold "price rule") is getting attention once again. The idea, which got a lot of attention back in the 1980s, after Arthur Laffer and other supply-siders, including Alan Reynolds,…
If the recent yield curve panic proves anything, it proves that, in financial markets, what may start out as a mere statistical correlation, and possibly a spurious one, can become a genuine causal relationship. In particular, if enough people subscribe to a post-hoc fallacy, it may not…
In a recent op-ed for CNN, Rep. Rashida Tlaib (D-MI) suggests a plan for improving the financial inclusion of minority households. She believes that reversing the Trump administration’s recent regulatory initiatives on credit discrimination and mortgage reporting legislation would improve matters. While Rep. Tlaib is right to…