Wednesday, 28 January 2015

Articles & Op-Eds

“The perils of monetary activism”

January 7, 2015

Investors are seemingly bemused as stock markets continue to underperform in the New Year after “racking up double-digit returns for 2014.” But if the last few years have taught us anything, it’s that positive growth and optimistic forecasting doesn’t necessarily mean that all is well with the economy. As Dr. Judy Shelton points out in her new […]

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“Bank capital punishment and other nostrums”

December 31, 2014

Across the globe, governments and their central banks have embarked on a witch hunt against bankers, imposing new capital requirements, regulations and even launching investigations against them. While policy makers need scapegoats to blame for the financial crisis of 2009, targeting bankers creates a problem as it “constrains the growth of money broadly defined.” This […]

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“The Yellen tug of war”

December 16, 2014

This week, Ralph Benko published a piece in Forbes that outlined what I would consider two fundamental problems with Janet Yellen’s Federal Reserve: its willingness to experiment and its growing politicization. As Benko states in the opening of his piece, economic mobility depends on when and how quickly the Fed decides to tighten or raise […]

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Should ‘Legal But Shady’ Be A New Regulatory Standard?

November 25, 2014

The following is an excerpt from Heritage Foundation Research Fellow Norbert Michel’s recent piece in Forbes: Last Friday I had the pleasure of testifying at a Senate hearing. The topic was “Improving Financial Institution Supervision: Examining and Addressing Regulatory Capture.” “Regulatory capture” refers to a common phenomenon: individuals serving as regulators come to identify with […]

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A global currency for a global economy: a real SDR currency board

November 18, 2014

By Dr. Warren Coats   Introduction Since the collapse of the gold standard and the Bretton Woods system in the early 1970s, the resulting international monetary system (IMS) has supported a dramatic growth in world trade and finance remarkably well. Yet the system of market determined or managed exchange rates, which suited well a world […]

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Beware a magnanimous Fed

October 24, 2014

Across the globe, central banks are highlighting growing trends in income inequality and suggesting that it is their responsibility to help close the gap. At a recent conference at the Federal Reserve Bank of Boston, Janet Yellen, Chair of the Federal Reserve, questioned whether income inequality “is compatible with values rooted in our nation’s history, […]

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