Monetary Policy


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In the News

Inflation And Stocks Are Both Up, And That’s Stirring Some Worries

quoting Martin Feldsteinvia The New York Times
Thursday, February 15, 2018

Two weeks ago, fears of higher-than-expected inflation and interest rates sent stocks into a historic and nerve-rattling plunge. This week, those fears were borne out: Consumer prices rose more than expected in January, and interest rates jumped.

Policy Seminar with Erik Hurst

Tuesday, February 13, 2018
Policy Seminar with Erik Hurst

Erik Hurst, V. Duane Rath Professor of Economics at the University of Chicago, and Deputy Director of the Becker Friedman Institute, talked about “The Transformation of Manufacturing and the Decline in U.S. Employment.”

In the News

Hidden Information, Hidden Action And The Stock Market

mentioning Michael Spencevia Manila Times (Phlippines)
Monday, February 12, 2018

In 2001, George Akerlof, Michael Spence and Joseph Stiglitz were awarded the Nobel Prize in Economics for their work on asymmetric (or hidden) information and markets.

In the News

U.S. To Borrow Nearly $1 Trillion In 2018

quoting Niall Fergusonvia The Trumpet
Wednesday, February 7, 2018

On January 31, the United States Treasury Department released its budget projections for 2018, outlining its plan to borrow an astonishing $955 billion to cover the costs of its programs. This represents the largest deficit in six years, and equates to an 84 percent increase over 2017, when the deficit was $519 billion.


Santelli Exchange: Ed Lazear On Markets And Wages

interview with Edward Paul Lazearvia CNBC
Tuesday, February 6, 2018

Hoover Institution fellow Ed Lazear discusses the global market rout, average workweek hours, and inflation.

Federal Reserve chair Janet Yellen.
In the News

Yellen's Historic Legacy: Wise Caution And A Successful Recovery

quoting David R. Hendersonvia CNN Money
Saturday, February 3, 2018

Millions of Americans are back to work, and they have Janet Yellen to thank. When she began her four-year term as the first woman to lead the Federal Reserve in 2014, the unemployment rate was 6.7%. Today it's 4.1%, the lowest in 17 years.

In the News

America's Lost Decade: Fed's Antigrowth Policies Hurt Recovery, But A New Boom May Be Upon Us

quoting John B. Taylorvia Investors Business Daily
Tuesday, January 30, 2018

Many negative consequences flow reliably from a financial crisis, including unemployment, political turmoil, and piles of sovereign debt. Since the 2008 financial meltdown, however, we've seen none of the good consequences — and there are supposed to be good ones.

In the News

Is Bank Deregulation Dangerous?

mentioning Charles Calomiris, Stephen Habervia Cato Institute
Tuesday, January 23, 2018

Among last week’s news items that had colleagues asking me, “What’s your answer to this?,” was a piece by Quartz’s John Detrixhe, telling its readers that, according to “300 years of financial history,” rolling back bank regulations is a good way to trigger a financial meltdown.

Bank Vault
In the News

Go Slow On New Bank Regulations

quoting John H. Cochrane via Bloomberg
Monday, January 22, 2018

The Minnesota Fed wants to make banks safer. Fine. But beware of inflicting short-term pain for uncertain gain.

Analysis and Commentary

Unique Cooperative Research Effort

by John B. Taylorvia Economics One
Wednesday, January 17, 2018

This week marks the 20-year anniversary of a “notable conference” on monetary policy as Ed Nelson, who reminded me, puts it. The conference took place at the Cheeca Lodge in the Florida Keys on January 15-17, 1998, and it resulted in the book Monetary Policy Rules published by the University of Chicago Press for the NBER.


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