Monetary Policy

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Sustaining America’s Exceptional Economy

by Edward Paul Lazearvia PolicyEd
Monday, July 9, 2018

There are many reasons to be optimistic about America’s future. Our nation’s success has propelled us into global prominence, but to remain successful we need to maintain our exceptional economic position. If we lose it, we will be losing more than the right to claim that we are the land of opportunity.

Analysis and Commentary

Using Social Security To Finance Paid Parental Leave Is A Fatally Problematic Idea

by Charles Blahousvia CNS News
Tuesday, July 10, 2018

On July 11 the Social Security Subcommittee of the Senate Finance Committee will hold a hearing on the importance of paid family leave for working American families.  The Social Security Subcommittee will likely examine recent proposals to use the Social Security system to finance a paid parental leave benefit. 

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Examining America's Exceptional Economy

by Edward Paul Lazearvia PolicyEd
Monday, July 9, 2018

America’s history is marked by exceptional economic development and growth. Compared to other countries, the labor market has always been dynamic and robust. Moreover, America’s long history of immigration and assimilation has helped it grow for over two centuries

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How To Get The Best From Brexit With Daniel Hannan

interview with Daniel Hannanvia Uncommon Knowledge
Thursday, July 12, 2018

What’s next for the United Kingdom as they exit the European Union?

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What We Wanted We Got: A Debate On The Fed’s Balance Sheet

by John B. Taylorvia Economics One
Tuesday, July 3, 2018

A big question addressed at this year’s annual Hoover monetary conference was “The Future of the Central Bank Balance Sheet,” including the amount of reserve balances that banks hold at the Fed. The issue is one that “the [Federal Reserve] Board and the FOMC are in the process of observing and evaluating” as Vice-Chair Randy Quarles put it at the conference.

Federal Reserve
In the News

Does The Flat Yield Curve Point To A Looming Recession?

quoting Raghuram Rajanvia Bloomberg Quint
Saturday, June 30, 2018

Is the flattening yield curve in the U.S. bond market sending signals of a looming recession? That’s still not clear, Former RBI Governor Raghuram Rajan wrote in the Financial Times. The difference or the spread between the yield on two-year Treasury bills and 10-year benchmark bond is narrowing. It “has compressed to less than 40 basis points, he wrote.

Analysis and Commentary

CPI Overstates Inflation Even More Than We Thought

by David R. Hendersonvia Econlib
Tuesday, June 26, 2018

Using a new dataset on e-commerce transactions in many categories of goods from Adobe Analytics, we calculated matched-model inflation and explored the importance of new products. Combining the two, the true Adobe DPI inflation rate — adjusted for new goods — was more than 3 percentage points per year lower than the CPI inflation rate for the same categories from 2014–2017.

In the News

Don't Be The Next Victim Of Financial Fraud

quoting Amit Seru via Seeking Alpha
Sunday, June 24, 2018

You’d think that the notoriety of the Madoff Ponzi scheme would have sensitized investors to fraudsters, but investors get scammed all the time, and frequently by repeat offenders. According to The Market for Financial Adviser Misconduct, a research study by Professors Mark Egan of Harvard, Gregor Matvos of the University of Texas and Amit Seru of Stanford: Seven percent of advisers have misconduct records, and this share reaches more than 15% at some of the largest advisory firms.

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Italy’s Quadruple Threat To Europe

by Michael J. Boskinvia Project Syndicate
Tuesday, June 19, 2018

Italy's new Five Star Movement/League government has been assuring financial markets that its intentions with respect to the euro and EU fiscal rules are pure. But soothing words will not change the fact that Italy is beset by political and economic crises that could plunge it – and Europe – into the abyss.

In the News

10 Documentaries That Will Make You A Lot Smarter About Money

quoting Niall Fergusonvia Big Think (NY)
Sunday, June 17, 2018

Monetary policy pervades all areas of our lives whether we realize it or not. The proverbial financial forces have laid the foundations for both society and civilization. On a fundamental level, we can look at money in two different ways. It is a form of stored labor – both intellectual and physical and also a medium that conveys value for exchange.

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Economic Policy Working Group

 
The Working Group on Economic Policy brings together experts on economic and financial policy to study key developments in the U.S. and global economies, examine their interactions, and develop specific policy proposals.

Milton and Rose Friedman: An Uncommon Couple