Hoover Institution fellow John Taylor examines the rate path taken by the Federal Reserve compared to the Taylor Rule, and he discusses the challenges ahead for the central bank.

"The plan for today,” says Martin Feldstein as he begins his 8th lecture to the Harvard students enrolled in a course called American Economic Policy, “is to finish up my three lectures on monetary policy.”

The Federal Reserve’s carefully scripted decision to raise interest rates last December, and begin a return to “normal” policy, may now become a nightmare for the U.S. central bank if an economic downturn forces a return to unconventional methods.

What's the perfect minimum wage: is it $10 an hour? $15? $20? How about zero? That's right. Zero. While Congress discusses a minimum wage hike, economist David Henderson shows that any minimum wage makes it harder for unemployed people (particularly young people) to find work, and forces business owners to cut the hours of lower-skilled employees.