Sunday, 04 October 2015
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    dollar bubbles

    Financial bubbles and macro prudential policy

    September 30, 2015
    In the field of monetary policy, there is one question that must necessarily be addressed: what should a central bank do in light of a financial bubble? Should it try to burst the bubble as soon as it arises or engage in damage control after a financial crisis occurs? Personally, I don’t think that there is […]
    Us Constitution And Dollar

    The nature of central banking and the importance of a monetary constitution

    September 28, 2015
    In my previous posts, I argued that it is imperative to secure a monetary policy regime that adheres to the rule of law.  In this post, I will extend the argument further: truly lawful money requires a monetary constitution of some kind. There is actually considerable sympathy to rules-based monetary policy contemporary macroeconomics.  However, not all monetary […]

    The Rupiah is in trouble, again

    September 23, 2015
    By Steve H. Hanke This article appeared in the October 2015 issue of Globe Asia. The rupiah is plumbing the depths it last visited in 1998 during the Asian financial crisis. The accompanying chart of the rupiah’s value against the U.S. dollar tells the tale. Although the rupiah’s recent plunge is not as dramatic as […]
    Federal Reserve Building

    Op-ed: The Fed, killing economic growth softly

    September 22, 2015
    Economic growth results from business owners making successful plans to invest and meet customer needs over time, but the unpredictable machinations of central banks like the Federal Reserve throw a monkey wrench in that economic calculation process. The Fed’s recent press conference is a perfect example of how the arbitrary and ambiguous decisions of central […]
    Interest rates

    Raising interest rates: The Fed vs. The Treasury?

    September 21, 2015
    In its latest meeting, the Federal Open Market Committee (FOMC) decided to not increase the Federal funds rate target, extending the lower zero bound policy until at least their next meeting. Although the decision was not unexpectable, some people did find it a bit surprising. The post 2008 recovery has been one of the slower […]
    Federal Reserve Bank

    Op-ed: It’s time to reconsider the Fed’s Dual Mandate

    September 18, 2015
    This piece originally appeared on By Jared Meyer and Johannes Schmidt All this week, people anxiously awaited results from the Federal Reserve’s Federal Open Market Committee meeting in Washington, D.C. Though many expected the FOMC would decide to finally raise interest rates and begin to normalize monetary policy, on Thursday it was announced that […]

    Op-ed: Don’t ask if the Fed will raise interest rates, it’s the wrong question

    September 16, 2015
    Central banks are vested with a tremendous amount of economic power, but there’s no real reason to think that they wield that power wisely. As the U.S. Federal Reserve’s Federal Open Market Committee begins its scheduled meeting, Atlas Network Sound Money Project Fellow Dr. William J. Luther takes a look at the Fed’s targeting of […]
    Red and Blue Long Arrows in Different Directions for Simple Morality Concept Design on a Very Light

    The moral obligation of monetary policy

    September 14, 2015
    Sound money advocates frequently invoke moral arguments. Some refer to Deuteronomy 25:15-16, where Jews were instructed to have “honest weights and measures” because “the Lord detests anyone who … deals dishonestly.” Some mention Juan de Mariana’s assessment of debasement as an “infamous systemic robbery.” Some recall Murray Rothbard’s view that the government “is supposed to […]