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Ideas for an Alternative Monetary Future

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Ideas for an Alternative Monetary Future

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Stephen Moore

gold standard, commodity prices, inflation, volatility, Stephen Moore, Herman Cain, Jerome Powell, Judy Shelton
Commodity Money, Fiat Money, News, The Fed & Central Banks

On Targeting the Price of Gold

George Selgin/August 29, 2019June 19, 2022

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,…

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gold standard, interest rate target, Stephen Moore, Herman Cain, Lucas critique
Commodity Money, Fiat Money, The Fed & Central Banks

A Gold Standard Does Not Require Interest-Rate Targeting

Larry White/April 18, 2019June 19, 2022

Stephen Moore and Herman Cain, the two recent nominees to the Federal Reserve Board of Governors, have in the past suggested returning to a gold standard (although Moore now says he favors merely consulting a broad range of commodity prices as leading indicators). In response, a number…

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Stephen Moore, commodity prices, nominal GDP, monetary rules, monetary policy
Money & Politics, The Fed & Central Banks

More on Commodity Price Targeting

George Selgin/April 9, 2019June 19, 2022

In a previous post, I argued that Paul Volcker didn't put a stop to inflation by having the Fed systematically increase interest rates when commodity prices rose, and lower them when commodity prices fell. While commodity-price targeting, aka a "price rule" for monetary policy, had some prominent…

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Paul Volcker, Stephen Moore, commodity prices, inflation, price level target
News, The Fed & Central Banks

Stephen Moore's Other Volcker Rule

George Selgin/March 25, 2019June 19, 2022

(Author's Note, April 11, 2019: I have made some slight revisions to this article in response to criticisms of the original by Bob Murphy, for which I sincerely thank him.) Of many dubious claims that recent Federal Reserve Board nominee Stephen Moore made in a Wall Street…

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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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