Back in May 2009, Paul Krugman published a column titled "The Big Inflation Scare." In it, he complained about the "inflation fear-mongering" going on at the time. "Suddenly," Krugman wrote, "everyone is talking about inflation. Stern opinion pieces warn that hyperinflation is just around the corner. …But…
Twelve years after the 2008 financial crisis, America's housing finance system is once again under strain. The acute decline in economic activity that coronavirus fears and government-mandated lockdowns have caused is disrupting cash flows for millions of households and businesses. In just four weeks, 22 million people…
One year ago the U.S. economy was robust with unemployment at historically low levels and real incomes rising. No one would have predicted that a year later the economy would come to a halt and more than 20 million people would be applying for unemployment benefits. This…
Having had a lot to say on these pages concerning the Fed's past Main Street lending efforts, I thought it proper to put in my 2 cents concerning its current plan, by responding to the Fed's request for comments on it. Unfortunately, "2 cents" is an all…
Just over 150 miles separate the Swiss cities of Basel and Geneva. For ten months, their distance has symbolized the gulf between the international regulators of the Financial Stability Board and the Libra Association, a corporate payments consortium led by Facebook. But this week marked a rapprochement,…