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Time to Tame the “Apolitical” Fed?
The flag of the American Federal Reserve System flies beside the flag of the United States. Writing in the Wall Street Journal, Joseph Sternberg argues that the Fed’s “decisions are inherently...
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Dollarization in Argentina: A Missed Opportunity
Protest in front of the National Congress building in Buenos Aires, as lawmakers debate Milei’s reform package. Jan 31, 2024. Argentina has grappled with chronic inflation and economic instability for...
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An Inflation Resurgence, or Just Relative Price Changes?
The Bureau of Labor Statistics in Washington, DC The Bureau of Labor Statistics (BLS) announced that inflation as measured by the Consumer Price Index (CPI) was 3.1 percent year-over-year in January....
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Two Kinds of Transitory Inflation
The definition of “transitory” has been an open political question. Now that Nobel laureate Joseph Stiglitz has declared victory for Team Transitory, it’s worth delving into the causes of our recent...
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Congress Overspends, but the Fed Inflates
Marriner S. Eccles Federal Reserve Board Building in Washington DC Writing in The American Conservative, Rep. Josh Brecheen (R-OK) recently blamed inflation on irresponsible fiscal policy. He cites a...
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Is Inflation on the Rise Again?
Board Governor Christopher J. Waller at the Federal Open Market Committee (FOMC) meeting in Washington, DC. January 2024. Inflation picked up in January, according to the latest data from the Bureau...
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Fed Admits It Was Wrong – Kind Of
Federal Reserve Chair Jerome Powell responds to reporters at a press conference. July 2023. During the pandemic recovery, inflation reached the highest rates in 40 years, largely driven by the Federal...
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Faster Growth and Interest Rates: Even Harder than You Think
The US Federal Reserve Eccles Building, 1937. Flickr. Writing in the Wall Street Journal, Mickey Levy opines that a stronger economy, fueled by productivity growth, might cause problems for the...
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Does Argentina Have Enough Dollars to Dollarize?
Currency exchange house on the streets of Buenos Aires, Argentina. 2019. Argentine President Javier Milei has postponed the implementation of his much-anticipated dollarization plan. Some...
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Inflation Remains Elevated. Is Money Actually Tight?
The seal of the Federal Reserve tops the atrium of the Eccles Building, where the FMOC will meet next week. There’s been another bump in the disinflationary road. The Bureau of Labor Statistics...
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Fact-Checking “Greedflation”
Grocery store shelves, where many consumers encounter persistent inflation. Some myths are stubbornly persistent. Count the greedflation myth among them. A recent poll conducted by Navigator indicates...
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Inflation Remained Elevated in February
Chair Powell answers reporters’ questions at the FOMC press conference in March, 2023. When inflation picked back up in January 2024, many commentators described it as more noise than signal. The...
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The Fed and Political Independence: It’s Complicated
The pressroom podium for the Federal Reserve awaits leadership. Writing in the Wall Street Journal, Joseph Sternberg wonders whether the Federal Reserve is too insulated from politics. The Fed clearly...
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Inflation We Can Feel But Don’t Measure
Housing and vehicle prices are key drivers consumers’ experience of inflation. In the aftermath of the pandemic, the United States experienced the highest rates of inflation of the last four decades....
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Why Haven’t We Whipped inflation Yet?
Federal Reserve Headquarters Office Building in Washington, DC. Despite extraordinary monetary tightening by the Federal Reserve, inflation remains elevated above its 2 percent target. Even more...
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A Better Model Won’t Fix The Fed
Jerome Powell is sworn in as Chairman of the Board of Governors of the Federal Reserve System. 2018. Can the Federal Reserve build a better mousetrap? Wall Street Journal columnist Joseph Sternberg...
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Is Argentine Disinflation Sustainable?
Argentine Minister of Economics Sergio Massa holds his face in deep emotion in Buenos Aires. 2019. With dollarization discarded in the short run, the world is eagerly watching Milei’s initial steps as...
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Inflation Declined in March, But Remains High
Chair Jerome Powell leads the Federal Open Market Committee (FOMC) press conference. 2022. Inflation is once again on the decline, new data from the Bureau of Economic Analysis (BEA) show. The...
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