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Ideas for an Alternative Monetary Future

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Ideas for an Alternative Monetary Future

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Federal Reserve

Christopher Waller
Economic Thought, Inflation & Deflation, Money & Politics, News, The Fed & Central Banks

Fiscal Dominance and Fed Complacency

James Dorn/April 8, 2021April 8, 2021 /5 Comments

In his first speech as a member of the Federal Reserve's Board of Governors, Christopher Waller defended Fed independence and reassured his audience that "deficit financing and debt servicing issues play no role in our policy decisions and never will."  His goal was to dispel the "narrative"…

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FedAccounts
Fiat Money, Financial Innovation, Money & Politics, News, The Fed & Central Banks

E Pluribus, Unum? Federal Reserve Provision of Retail Accounts

Diego Zuluaga/December 1, 2020November 30, 2020 /2 Comments

This is the third and final essay in my series on proposals to help reduce the number of unbanked households in America. In my prior essays, I examined the history of the postal savings system between 1910 and 1966, and I evaluated present-day calls to allow the…

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Policy Drift
Banking Regulation, Booms & Busts, Economic History, Inflation & Deflation, News

The Fed's Policy Drift

James Dorn/September 30, 2020September 30, 2020 /Leave a comment

The unanimous decision of the Federal Open Market Committee (FOMC) to shift from inflation targeting to average inflation targeting is another step away from its mandate to achieve long-run price stability. Section 2A of the Federal Reserve Act does not say the Fed's long-run objective should be…

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The Fed might be warming up to NGDPLT in the eyes of some, but George Selgin says otherwise.
Events, Fiat Money, Money & Politics, News, Recommended Reading, The Fed & Central Banks

Is the Fed Getting Warmer?

George Selgin/September 10, 2020September 10, 2020 /11 Comments

Relax: the Fed isn't about to catch fire or melt. This isn't about that sort of warming. It's about a different, more benign sort of Fed warming that my pals at the Mercatus Center claim to have discerned. Still, I don't believe them. Call me a Fed…

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average inflation targeting: a semi-Wicksellian effort
Inflation & Deflation, Money & Politics, News, The Fed & Central Banks

The Fed's New Policy Rule: Taylor v. Semi-Wicksell

Hu McCulloch/September 3, 2020September 3, 2020 /6 Comments

On August 27, the FOMC announced a new "Statement on Longer-Run Goals and Monetary Policy Strategy," in which it replaced its earlier Taylor Rule strategy for controlling inflation with what might be called a "Semi-Wicksell Rule." Fed Chair Jerome Powell elaborated on the statement in a speech…

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Contributors

  • George Selgin
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Recent Posts

  • The New Deal and Recovery, Part 12: Fear Itself
  • Fiscal Dominance and Fed Complacency
  • Joshua Greenberg on Antebellum Paper Money
  • Lawrence White on Private Gold Mints
  • The Private Mint In Economics: Evidence from American Gold Rushes (CMFA Working Paper No. 003)
  • Ron Paul and our Big, Fat Fed
  • The New Deal and Recovery, Part 11: The Roosevelt Recession, Continued

Recent Comments

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  • Benjamin Cole on Fiscal Dominance and Fed Complacency
  • MichaelAM on Fiscal Dominance and Fed Complacency
  • gchakko on Fiscal Dominance and Fed Complacency

About Us

Welcome to Alt-M, a community devoted to exploring and promoting ideas for an alternative monetary future. Our goal is to reveal the shortcomings of today's centralized, bureaucratic, and discretionary monetary arrangements, and to bring serious consideration of real alternatives to the center stage of current monetary and financial reform debates.

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