[W]hen we talk about why the housing went crazy between 1997 and 2007, let’s not stick with interest rates, capital flows, and animal spirits. Let’s remember the role of bad economic policy in the housing market and the financial sector...

Some economists argue that the efforts now underway to reduce government spending as a share of GDP will have adverse effects on unemployment. This is not what the data show...

Technically speaking, Bernanke is not pressing the button...But the growth in the fed’s balance sheet from $930 billion on August 8, 2007, to $1.53 trillion on October 1, 2008, to $2.43 trillion at the end of 2009 surely helped fuel the demand for high-denomination notes...

Dan Thornton of the Federal Reserve Bank of St. Louis just completed a very revealing paper called What Does the Change in the FOMC’s Statement of Objectives Mean? in which he traces FOMC references to the Fed’s mandate over many years...