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Ideas for an Alternative Monetary Future

Alt-M

Ideas for an Alternative Monetary Future

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Monetary Stimulus

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

Fiscal Dominance and Fed Complacency

James Dorn/April 8, 2021June 19, 2022

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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Federal Reserve, monetary policy, monetary stimulus, quantitative easing
Booms & Busts, The Fed & Central Banks

Evaluating Quantitative Easing

Gerald P O'Driscoll/May 29, 2015June 19, 2022

In my prior post, “The Futility of Stimulus,” I examined whether Federal Reserve Policy has provided economic stimulus.  I employed standard measures of money-supply growth to evaluate the question.  I concluded that Federal Reserve policy has resulted in less expansion of the money supply than would normally…

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federal reserve, sisyphus, monetary stimulus
Booms & Busts, The Fed & Central Banks

The Futility of Stimulus

Gerald P O'Driscoll/May 27, 2015June 19, 2022

George Selgin has recently focused on the failure of Federal Reserve policy to finance a normal recovery.  The Fed has greatly expanded its balance sheet and created a large quantity of excess reserves, which, for a variety of reasons, commercial banks have not mobilized into credit creation….

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Economic History, Financial Markets, The Fed & Central Banks

A 1920-21 Recovery Myth

George Selgin/December 4, 2014June 19, 2022

The Forgotten Depression, Jim Grant's excellent book about the 1920-21 downturn and the recovery that followed, has generated a burst of critical commentary from persons anxious to reject the principal conclusion Grant draws from that episode. That conclusion, in brief, is that the U.S. was able to…

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Recent Posts

  • The New Deal and Recovery, Part 20: The Phantom Depression
  • The New Deal and Recovery, Part 19: War, and Peace
  • The Menace of Fiscal Inflation
  • Monetary Progress
  • Paul Krugman and the "Ersatz" Theory of Private Currencies
  • The New Deal and Recovery, Part 18: The Recovery So Far
  • Should the Fed Devalue Our Currency to Implement Negative Interest Rates?

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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