Corporations are pressured to ignore Milton Friedman’s wisdom in favor of dubious political and social goals.

The effect of monetary policy on inflation depends crucially on fiscal policy. In standard new-Keynesian models, of the type used throughout the Fed, ECB, and similar institutions, for the central bank to reduce inflation by raising interest rates, there must be a contemporaneous fiscal tightening. If fiscal policy does not tighten, the Fed will not lower inflation by raising interest rates.

The Hoover Institution hosts Reflecting on September 11th: 20 Years Later on Friday, September 10, 2021.

Watch a discussion with special guests Condoleezza Rice, General Jim Mattis, John B. Taylor and Karen Hughes as they recount their personal experiences, each from a different vantage point, on where they were during the deadliest terror attack on American soil in history.

The approaching twentieth anniversary of the 9/11 attacks on the American homeland is a time to remember the fallen and reflect on lessons learned from that terrible day, including America’s readiness for a similar event. Condoleezza Rice, the Tad and Dianne Taube Director of the Hoover Institution and President George W. Bush’s national security advisor at the time of the attacks, joins Hoover senior fellows Niall Ferguson and John Cochrane to relive the White House’s response that day and shares her concerns about US national security moving forward.