Federal Reserve

Opinion Headlines

  1. Fed   LTE  Fed’s Aggressiveness Has Saved Us  6-30-14
  2. Fed  “How to Spark Another ‘Great Moderation’ by John Taylor  7-16-2014
  3. Fed  “Investors Heed the Fed at Their Peril” by Marc Sumerlin/Phillip Swagel  7-17-2014
  4. Fed.  LTE.  “Yes, the Fed Got Some Things Right, but Look Ahead.”  8-30-14
  5. Federal  Reserve.  “An Unnecessary Fix for the Fed.” By Alan Blinder  7-18-14
  6. Federal  Reserve.  “How Would the Fed Raise Rates?” by George Melloan  8-26-14
  7. Federal  Reserve.  “The Fed’s Systemic-Risk Balancing Act.” By Martin Feldstein.  8-12-14
  8. Federal  Reserve.  LTE “Should the Federal Reserve Follow Some Policy Rule?” [by 2 U.S. Reps] 7-25-14
  9. Federal  Reserve.  LTE.  “Note:  Pride Goes Before Destruction.”  […re. Too loose, Too long] 8-5-14
  10. Federal  Reserve.  “Federal  Reserve’s Risky Reverse Repurchase Scheme,” by Sheila Bair [… exacerbate liquidity…] 7-25-14
  11. Federal Reserve.  “Downgrading Growth Again.”  6-19-14
  12. Federal Reserve.  “The Fed Needs to Return to Monetary rules.”  [vs play by ear]  6-27-14
  13. Federal Reserve.  “A Few Things the Fed Has Done Right” by John Cochrane.  8-22-14
  14. Federal Reserve. LTE. “Why Put So Much Trust in the Fed?”  8-27-14
  15. Federal Reserve:  “Paul Volker: Back to the Woods” piece by Seth Lipsky 6-12-14
  16. Federal Reserve:  LTE: “The Jobs from the Fed are Expensive.”  8-11-14
  17. Fed Is Looking Like a Sovereign Wealth Fund. By David Malpass.   9-8-14
  18. Fed. “The Federal Reserve’s Too Cozy Relations With Banks.” By Stephen Haber et. al. 9-10-14
  19. Fed. LTE. “Sovereign Wealth Fund or Not, the Fed Has Some Issues.” 9-13-14
  20. Fed. “Yellen’s Discretion.” [Soon the Bernanke autopilot expires. Then the gun begins.] 9-18-14
  21. Fed. “Behind the Fed’s Dovish Turn on Rates.” [After sending hawkish signals in July, the Federal Open Market Committee has softened its tone.] by Alan Blinder   9-23-14
  22. Fed. “The Fed’s Mortgage Favoritism.” By Jeffrey M. Lacker et. al. [When the central bank buys private assets, it distorts markets and undermines its claim t independence.]   10-8-2014
  23. Fed. LTE. “The Fed Should Think Less About Itself.” 10-13-14
  24. Fed. “Growth Management Isn’t the Fed’s Forte.” by David Malpass.   [The stock-market turmoil is fresh evidence that the central bank must return to market-based monetary policy.] 10-16-14
  25. Fed. LTE. “Despite All Its Virtues, the Fed Isn’t Promoting Growth.” 10-24-14
  26. Fed. “The Fed Rate Hike May Be a Mirage.” [Despite the central bank’s vows to increase interest rates, a variety of forces are working against the move.] 10-27-14
  27. Fed. “The QE Record.” [The end of Fed bond buying is not the end of monetary easing.] “Silicon Valley’s Reform Breakthrough.” [A pension reformer wins in San Jose against the union machine.] 10-30-14
  28. Fed. “Does the Fed Read the Election Returns?” by Holman Jenkins, Jr. [If Janet Yellen keeps talking, we may never get pro-growth reform or a real recovery.] 11-8-14
  29. Fed. LTE “Taking Another Look at the Fed’s Incomplete QE Record.” 11-11-14
  30. Fed. LTE: “Inequality Is Not the Fed’s Mission.” 11-15-2014
  31. Fed. “The Fed Needs Governors Who Aren’t Wall Street Insiders.” By Elizabeth Warren, et. al. [With two vacancies to fill, Obama should pick nominees who will look out for Main Street, not the big banks.] 11-18-14
  32. Fed. “A Central Bank for the Beltway.” [Progressives don’t like independent regional Fed presidents.] 11-19-14
  33. Fed. “Raise Interest Rates, Make Grandma Smile.” By Charles R. Schwab. [With the Red’s near-zero policy, households headed by someone 75 or older have lost $2,700 annually in interest income.] 11-20-14
  34. Fed. “The Fed Needs More Than an Audit.” By Peter J. Wallison. [The central bank’s expansive regulatory powers should be subject to congressional and executive branch oversight.] 11-28-14
  35. Fed Hawks Ignore Reality of Stagnant Wages, No Jobs. LTE. 11-28-14Fed. “A Monetary Gadfly in an Age of Fiat Money.” By Seth Lipsky. [Bernard von NotHaus may go to prison for making Liberty Dollars, but he has raised serious currency questions.] 12-2-14
  36. Fed. LTE. “The High Costs of the Fed’s War on Seniors and Savers.”   12-4-14
  37. Fed. LTE. “Auditing the Mighty Fed and Overseeing the Overseer.” 12-6-14
  38. Fed. “The Fed’s Needless Flirtation With Danger.” By Martin Feldstein. [Well-designed tax rules are a safe and effective alternative to quantitative easing.] 12-26-14
  39. Fed. “The Fed Cash Machine.” [The central bank kicked in $98.7 billion to the Treasury last year.] 1-12-15
  40. Fed. “Dear Red, Please Be Late To the Rate-Raising Party.” By Robert Greifeld. [Moving too quickly amid signs of global economic trouble could damage growth and send stock and bond markets into turmoil.] 1-12-15
  41. Fed. LTE. “Timing the Rise in Interest Rates, Getting the Rate Right.”   1-16-15
  42. Federal Reserve. “Beware of Woolly-Minded Attacks on the Fed.” By Alan S. Blinder. [The biggest threat may come from proposals to limit the central bank’s ability to act as a lender of last resort.] 1-28-15
  43. Fed. LTE. “Fed Does Help Treasury Make Money.” 1-30-15
  44. Fed. LTE. “Helicopter Money, the Red and the End of Monetarism.” 1-30-15
  45. Fed. LTE. “The Non-Woolly-Minded Fed Critics Make Some Points.” 2-5-15
  46. Fed. “Why the Alarms About a Slight Rate Hike?” by Omid Malekan. [The near-zero policy has had modest results while depriving savers of gains. A change is in order.] 2-18-15
  47. Fed. “A Muddle of Mixed Messages From the Fed.” By Charles W. Calomiris et.al. [Markets don’t seem to believe the central bank will follow through on its midyear rate hike.] 2-19-15
  48. Fed. “The Search for a Monetary-Policy Wizard and Political Moral Hazard.” By Robert Rubin. [Relying on central bankers to solve the world’s economic woes reduces public pressure on elected officials to act.] 2-24-15
  49. Fed. “A Financial System Still Dangerously Vulnerable to a Panic.” By Glenn Hubbard et.al. [The Federal Reserve’s powers to act as leader of last resort need to be restored and strengthened.] 3-2-15
  50. Fed. “No, Don’t ‘Audit the Fed.’” By Ernie Patrikis. [What backers of the plan want is influence over monetary policy.] 3-18-15
  51. Fed. “The Patience of Janet.” [A modest rate increase would not mean the return of ‘tight money.’] 3-19-15
  52. Fed. “How Foreigners Became America’s Financial Regulators.” By Peter J. Wallison et.al. [The Fed and Treasury are answering to a board of the G-20 without admitting it to the American people.] 3-20-15
  53. Fed. “It’s High Time to ‘Audit’ the Federal Reserve.” By Alex J. Pollock. [Since 2008 the Fed has run vast, and risky, economic experiments without effective congressional oversight.] 3-23-15
  54. Fed. LTE. “Congress Can Audit the Federal Reserve, but Should it?” 3-24-15
  55. Fed. LTE. “Patient Janet Outperforms the European Central Bank.” 3-26-15
  56. Fed. “The Fed Needs to Step Up Its Pace of Rate Increases.” By Martin Feldstein. [Unemployment is now 5.5%, historically the lowest rate that can be sustained without starting an inflation spiral.] 3-31-15
  57. Fed. LTE. “Should the Fed Be More Accountable or Independent? 4-1-15
  58. Fed. LTE. “Fed Must consider the World and All U.S. Employment.” 4-9-15
  59. Fed. “The Fed Can Be Patient About Raising Interest Rates.” By Alan S. Blinder. [Core inflation has been stuck between 1.3% and 1.7% since mid-2012, and isn’t forecast to reach 2% until 2017.] 4-13-15
  60. Fed. “The Fed’s Faulty 1937 Excuse.” By Christian Broda and Stanley Druckenmiller. [Central bankers aren’t likely to observe financial excesses until it’s too late.] 4-16-15
  61. Fed.   “Roadkill in the Fed’s Race to Regulate Shadow Banking.” By Peter J. Wallison. [GE Capital saw the writing on the wall: Opportunities to innovate and compete would be smothered over time.] 4-20-15
  62. Fed.   LTE   “The Fed Must Increase Rates, but There Will Be Costs.” 4-23-15
  63. Fed. “The Slow-Growth Fed.” [table: “The Fed vs. Reality.]   4-30-15
  64. Fed. “Bernanke’s Rebuttal.” [He credits the Fed for lower unemployment but not for slow growth.]   5-1-2015.
  65. Fed. “The Federal Reserve Asset Bubble Machine. “ by Ruchir Sharma. [Easy money is driving up the price of stocks, bonds, houses, and other assets in an era without historical precedent.] 5-12-15
  66. Fed. LTE. “Bernanke’s Tenure and What Government is Able to Do.” 5-11-15
  67. Fed. LTE. “The Fed, Proliferating Regulations and Slow Growth.” 5-7-15
  68. Fed. “A Liberal Speech Cop Targets Alan Greenspan.” By Seth Lipsky. [The former Fed chairman drops out of a monetary conference after he’s assailed by Paul Krugman.] 5-15-15
  69. Fed. “Janet Yellen Is No Stock Market Sage.” By Burton G. Malkiel. [If you sold your biotech stock based on the Fed chair’s assessment of the market in July, you’d be sorry now.] 6-2-15
  70. Fed. “How the Red’s East Coast Tilt Warps Monetary Policy.” By Kevin Brady. [Since 2000, real adjusted operating expenses of the New York bank and Board of Governors have climbed 61%] 6-5-15
  71. Fed. “Misreading the Fed on a Rate Increase.” By Benn Steil. [Ignore the Federal Open Market Committee. The smaller, more dovish Board of Governors will decide.] 6-9-15
  72. Fed. LTE. “East-Coast Fed Bias And a Lack of Dissent.” [“…the dramatic shift of power and resources from the Federal Reserve banks to the board of governors…”] 6-11-15
  73. Fed. “Memo to the Fed: First, Do No Harm.” By Jim Kudlinski. [Our central bankers should strive to limit or mitigate the collateral damage caused by their monetary policy.] 6-15-15
  74. Fed. LTE. “The Fed, Regulation and Preventing the Fire Next Time.” 6-15-15
  75. Fed.  “The Long Way Back from 2008.” [“…The bailout was foremostly the act of a political class saving itself…”] 6-17-15
  76. Fed. “Washington’s Illegal Bailout.” [Hank Greenberg wins an historic victory against the Fed seizure of AIG.] 6-16-15
  77. Fed. “Will Congress Now Rein in the Fed?” by Seth Lipsky. [A federal judge says the government’s AIG bailout broke the law. Time for the legislature to step in.] 6-16-15
  78. Fed. “Falling Fed Forecast.” [The central bank again revises down its growth estimate for 2015.] 6-18-15
  79. Fed. LTE. “Fed Broke the Law With AIG but May Keep the Profits.” 6-22-15
  80. Fed. “Fixing the Fed’s Liquidity Mess.” By Lawrence Goodman and Stephen Dizard. [Quantitative easing and a near-zero interest rate have produced lopsided positions that risk another crisis.] 7-21-15
  81. Fed. “Why the Fed Needs to Get Off the Dime.” By Richard W. Nelson. [“…the best course for the Fed is to begin raising rates very soon, if cautiously.”] 7-25-15
  82. Fed. LTE. “Bringing U.S. Productivity Data Out of the Shadows.” 7-25-15
  83. Fed. LTE. “The Fed’s Liquidity Mess, Part Deux.” 8-6-15
  84. Fed. “Overselling the Importance of When the Interest-Rate Rise Begins.” By Alan S. Blinder. [September? December? Next year? That doesn’t matter as much as how swiftly rates increase after the first hike.] 8-13-15
  85. Fed. “Raising Rates Now Would Be a Mistake.” By Narayana Kocherlakota. [With inflation so low, higher rates will push the economy away from the Red’s price and employment goals.] 8-19-15
  86. Fed. LTE. “’Slowly’: No Term of Policy Precision.” 8-21-15
  87. Fed. “A Fine Fed Mess.” [Are financial assets falling to match the slowing real economy? Chart: “The Fed vs. Reality:” …projections of real GDP growth by Federal Reserve governors and bank presidents compared to actual GDP…] 8-22-15
  88. Fed. “The Fed Flirts With the Right Move at the Wrong Time.” By Gerald P. O’Driscoll Jr. [The central bank waited too long to raise interest rates. Now, with global markets in turmoil, it should hold off.] 8-24-15
  89. Fed. LTE. “Fed Should Raise Interest Rates Now Rather Than Later.” 8-25-15
  90. Fed. “The Fed’s Stock-Price Correction.” By Martin Feldstein. [The equity-market downturn is the inevitable result of the central bank’s policies. The unwinding will likely continue for months.] 8-25-15
  91. Fed. “’Inflation Dynamics’ With Fed as Ringmaster.” By Seth Lipsky. [Watching the Jackson Hole meeting for signs of an interest-rate increase – and pressing for other changes.] 8-27-15
  92. Fed. “Emerging Market Rip Tide.” [The Fed encouraged malinvestment that is hurting global growth.] 8-28-15
  93. Fed. “‘Chimerica’ and the Rule of Central Bankers.” By Niall Ferguson. [The past week has shown us that the world economy is dominated more than ever by the symbiotic relationship of China and America .] 8-28-15
  94. Fed. LTE. “Feldstein, the Fed, the Stock Market and Interest Rates.”  8-31-15
  95. Fed. LTE. “Poor Fed Monetary Policy Led to Disappointing Results.” 9-4-15
  96. Fed. “The Fed Needn’t Rush to ‘Normalize’” By John H. Cochrane. [Unemployment is 5.1%, inflation is low, and near-zero interest rates have proved innocuous.] 9-17-15
  97. Fed. “Stuck on Zero.” [The Fed finds more reasons not to raise interest rates.] 9-18-15
  98. Fed. “The Federal Reserve Pulls Lucy.” By David Malpass. [So the economy isn’t ready to withstand a quarter-point rate hike even after seven years of stimulus?] 9-18-15
  99. Fed. “How the Fed Saved the Economy.” By Ben L. Bernanke. [Full employment without inflation is in sight. The central bank did its job. What about everyone else?] 10-5-15
  100. Fed. “Pro-Growth Tools for the Frozen Fed.” By David Malpass. [The central bank needs to try something different – and has serious options to get median income rising.] 10-7-15
  101. Fed. LTE. “Fed Policy Contributed to Recession It Ended.” 10-12-12
  102. Fed. “The Federal Reserve’s Accountability Deficit.” By Phil Gramm and Thomas R. Saving. [Every member of the Fed’s Board of Governors is an Obama appointee. That wasn’t supposed to happen.] 10-15-15
  103. Fed. LTE. “It’s Time to Address the Red’s Mission Creep.” 10-21-15
  104. Fed. “Bernanke and Lehman, Revisited.” By Homan W. Jenkins, Jr. [Had the politicians wanted Lehman Brothers saved, would the Fed have refused because of a legalism?” 10-24-15
  105. Fed. “The Fed Has Hurt Business Investment.” By Michael Spence and Kevin Warsh. [QE is partly to blame for record share buybacks and meager capital spending.] 10-27-15
  106. Fed. “Much Ado About the Fed’s Nothing.” [Tune in next time for another episode of ‘As the Fed Turns,’ or not.] 10-29-15
  107. Fed. “Competition for the Red’s Money Monopoly.” By Sean Fieler. [Bitgold transactions would make the central bank defend its market share.] 11-2-15
  108. Fed. “Bernanke and the Slow-Growth Crew.” By Peter J. Wallison. [The former Fed chairman’s memoir helps explain why this economic recovery has been so disappointing.] 11-5-15
  109. Fed. LTE. “The Courage to Act, but Often Suboptimally.” [“Regarding Peter Walliston’s “Bernanke and the Slow-Growth Crew” (op-ed, Nov. 5, 2015
  110. Fed. “The Red’s Inconsistent Capital Rules.” [Regulators think long-term debt will prevent bank failures. Oh-oh.] 11-16-15
  111. Fed. “How the Fed Has Warped the 401(k).” by Michael Thompson. [Older workers seeking returns have piled into stocks. When interest rates finally rise, watch out.] 11-17-15
  112. Fed. “Reining In a Sprawling Federal Reserve.” By Jeb Hensaring. [The Fed’s greater powers increase the need for close scrutiny of its activities.] 11-20-15
  113. Fed. “Don’t Blame the Fed for Low Rates.” By William Poole. [Mr. Poole…retired as president and CEO of the Federal Reserve Bank of St. Louis in March 2008] 11-25-15
  114. Fed. “The Fed Is Stressed Out.” [What if a bank had the same problem the regulators have?] 11-27-15
  115. Fed. “The Red’s Unwarranted Skittishness.” By Mickey D. Levy. [History shows that fears of slowing the economy with an interest-rate increase are overblown.] 11-30-15
  116. Fed. LTE. “Regulatory Policy and Its Inflationary Effect.” 12-1-15
  117. Fed. “The Fed’s Lift-Off: Keep Calm and Carry On.” By Alan S. Blinder. [Some bond traders were teenagers the last time the Fed increased interest rates.] 12-1-15
  118. Fed. LTE. “The Fed Will Be Prudent – If It Has a Chance.” 12-5-15
  119. Fed. “The Fed’s Faustian Bargain.” Book review by Edward Chancellor: “Between Debt and the Devil. By Adair Turner.” [Excessive credit growth and bubbles – the consequence of over-easy monetary policies – are more dangerous than the threat of deflation.] 12-7-15
  120. Fed. “The Veneer of Consensus at the Fed.” By Charles I. Plosser. [An urge to show a united front can mask wide disagreements, misleading markets and the public.] 12-10-15
  121. Fed. “The Fed at the Brink.” [After seven years of near-zero, financial markets are nervous.] 12-15-15
  122. Fed. “The Fed’s Uncertain Leap Forward.” By Gerald P. O’Driscoll Jr. [Using forward guidance instead of a monetary rule once again leaves financial markets unsettled.] 12-17-15
  123. Fed. “As the Fed Moves, It Needs a Road Map.” By Glenn Hubbard. [A clear strategy should include how monetary policy ideally would fit with fiscal policy.] 1-4-16
  124. Fed. “A Federal Reserve Oblivious to Its Effect on Financial Markets.” By Martin Feldstein. [The Federal Open Market Committee last month didn’t even mention risk from persistent low rates.] 1-14-16
  125. Fed. LTE. “The Fed Needs Humility About Margin Rules.”  1-19-16
  126. Fed. “The Fed’s Mismeasure of Inflation.” By Robert F. Stauffer. [The 2% target rate has been reached in services, but monetary policy will do little to raise goods prices.] 2-5-16
  127. Fed. “Don’t Blame the Fed’s Interest-Rate Baby Step.” By David Malpass. [The stage was set for the 2016 market slide well before the Fed’s long overdue rate increase.] 2-11-16
  128. Fed. “Yellen and the Markets.” [She looks at the jobless rate, investors watch everything else.] 2-12-16
  129. Fed. LTE. “Deflationary Fears, Bad Government Policy.” 3-15-16
  130. Fed. LTE. “Forget the Pictures, Think About Real Value.” 5-13-16
  131. Fed. “Ending the Fed’s Inflation Fixation.” By Martin Feldstein. [The focus is misplaced – and because ot delays an overdue interest-rate rise, it is also dangerous.]  5-18-16
  132. Fed. “The High Cost of Ultralow Interest Rates.” By Paul H. Kupiec. 5-23-16
  133. Fed. “The Fed surrenders.”  [The central bank underscores the slow-growth reality.]  6-16-16
  134. Fed. LTE   “’Natural’ Interest Rate isn’t a Great Mystery.”  7-1-16
  135. Fed. “Where the Fed Will Be When the Next Downturn Comes.”  By Martin Feldstein.  [The easy-money policy may bump inflation over 3% in the next few years, setting up interest-rate increases.]  7-6-16
  136. Fed. “Those Money-Laden Helicopters Hovering on the Horizon.” By Alan S. Blinder.  [Why is Milton Friedman’s thought experiment taking flight again?  It’s not what this economy needs.]  7-7-16
  137. Fed. LTE.  “Fed’s Easy Money Can’t Control Price Level.”  7-15-16
  138. Fed. “The Fed Missed Its Chance.  Now What?  By Edward P. Lazear.  [The business cycle is peaking, with no interest-rate increase.  The central bank has blown it.  Still, better late than never.]  7-22-16
  139. Fed. “The Dollar – and the Fed – Still Rule.”  By Ruchir Sharma.  [Americans may think the U.S. is in hock to China, but Beijing’s economic fate lies in Washington’s hands.]  7-29-16
  140. Fed. LE  “Fed’s Inability to Invoke an Ineffective Policy Is No Loss.”  8-2-16
  141. Fed. LTE.  “An Independent Fed Would Act More Independently.”  8-6-16
  142. Fed. LTE.  “Cashless Society Is a Temptation for Tyrants.”  8-11-16
  143. Fed. LTE.  “Uneasy Is the Head With the Crown of Dollars.”  8-13-16  (See #139 here.)
  144. FED. LTE.  “No Surprise:  Negative Rates Mean less Income, Spending.”  8-16-16
  145. Fed. “The Federal Reserve Needs New Thinking. “ by Kevin Warsh. [It’s models are unreliable, its policies erratic and its guidance confusing. It is also politically vulnerable.] 8-25-16
  146. Fed. “The Federal Reserve’s Politicians.” [Interest groups now lobby the central bank as if it’s a legislature.] 8-29-16
  147. Fed. LTE. “Mr. Warsh Is Right: The Fed Needs the Basics.” 8-29-16
  148. Fed. “More Fed bond Purchases Are the Wrong Answer.” By David Malpass. [The Jackson Hole meeting defended the status quo, despite slow growth and meager wage gains.] 8-30-16
  149. Fed. LTE. “Lobbyists Know the Fed Has Political Power.”   9-6-16
  150. Fed. “Hard Truths About Easy Money.” By Edmund Phelps. [The Fed’s reluctance to raise interest rates is eerily similar to its precrisis policies a decade ago.] 9-9-16
  151. Fed. LTE. “Fed is Wrong, but What Choice Does It Have?”  9-15-16
  152. Fed. “The Fed’s Stress Tests Need to Be Transparent.”  By Hal Scott and John Gulliver.  [Banks are being judged by secret models, in violation of the law that governs agency rule-making.]  9-17-16
  153. Fed. “A Legal Barrier to Higher Interest Rates.”  By George Selgin.  [“…But if the Fed chooses to tighten, it should at least do it legally.”] 9-28-16
  154. Fed. “Why the Fed Should Raise Rates Now.”  By Martin Feldstein.  [Unemployment is low, inflation is on the rise and asset prices are through the roof.]  10-7-16
  155. Fed. “The Fed, Not the Market, is Stifling Growth.”  By Mary Anastasia O’Grady.  [Trump and Clinton blame economic woes on immigration and trade.  They’re wrong.]  10-24-16
  156. Fed. LTE.  “The Fed Should Be Accountable for Its Results.”  11-28-16
  157. Fed. “The Fed and Donald Trump.”  [The central bank seems to think new policies won’t affect growth.]  12-15-16
  158. Fed. “At Long Last, the Fed Faces Reality.”  By Gerald P. O’Driscoll Jr.  [Unconventional monetary policy – including years of ultralow interest rates – simply hasn’t delivered.]  12-15-16
  159. Fed. “A computer Can’t Do the Fed’s Job.”  By Neel Kashkari.  [Mechanically following the Taylor rule would limit the central bank’s policy tools and harm the economy.”  12-19-16
  160. Fed. “The Case for a Rules-Based Fed.”  By John B. Taylor.  [Neel Kashkari is wrong.  My proposed rules-based reform of the Fed would not be run by a computer.]  12-21-16
  161. Fed. LTE.  “Enduring Mystery of Fed-Driven Economy.”  12-29-16
  162. Fed. “American Needs a Steady, Strategic Fed.”  By Kevin Warsh.  [When central banders react to short-term data, they confuse the immediate with the important.]  1-31-17
  163. Fed. “The Most Powerful Man in Washington You’ve Never Heard of.” By Peter Conti-Brown. [The Fed’s general counsel, sometimes called the ‘eighth governor,’ should be a political appointment.] 2-16-17
  164. Fed. “Yellen gives Conservatives Something to Cheer.” By Donald Luskin. [ With Three Trump appointees, the Fed is likely to move toward rules-based policy.] 2-17-17
  165. Fed. “What Should the Fed Do Next? Follow the Leader.” By Jason Furman. [On Janet Yellen’s watch the central bank has achieved its employment and inflation goals.] 3-9-17
  166. Fed. “The Fed’s Era of Contentment.” [A dovish tone despite another interest-rate increase.] 3-16-17
  167. Fed. “A 21st-Century Federal Reserve.” By Todd G. Buchholz. [Redraw the map, measure new currencies, and pay attention to how politics distorts the economy.] 3-16-17
  168. Fed. LTE. “Fed’s Sole Policy Should Be a Stable Dollar.” 3-18-17
  169. Fed. “Yellen’s Labor Forces” [The Fed Chair elevates a good cause beyond interest rates.] 3-29-17
  170. Fed. “The Fed Could Use Less Book Learning and More Street Smarts.” By Joe Ricketts. [Academic economists are fine, but business leaders and bankers would bring an important perspective.] 4-11-17
  171. Fed. “The Fed Moves Up.”  [The central bank is taking its bond self very slowly.]  6-15-17
  172. Fed. “How to Keep the Red From Following Its Models off a Cliff.”  By Glenn Hubbard.  [For one thing, governors should have varied life experiences to broaden the perspectives in the room.]  6-15-17
  173. Fed. “Our Political Central Bankers.”  [Fed officials defend regulation that’s great for Goldman Sachs.]  8-29-17
  174. Fed. “The Fed Should Stop Worrying and Learn to Love Low Inflation.”  By Wm. M. Isaac and Richard M. Kovacevich.  [America’s central bankers ought to be focused on revving the economy and adding jobs – period.]  9-18-17
  175. Fed. “The Fed’s Long March to Normal.”  [Why the central bank needs to unwind its balance sheet.]  9-19-17
  176. Fed. “The Slow and Steady Fed.”  [A rate increase in December looks increasingly likely.]  9-21-17
  177. Fed. “Trump and the Fed.”  [Will he embrace the monetary policy that campaigned against?]  10-4-17
  178. Fed. “Too Many Empty Chairs at the Federal Reserve.”  By Peter Conti-Brown.  [Chronic vacancies on the Board of Governors are bad for the banking system and public accountability.]  10-5-17
  179. Fed. “Bullying the Bank.”  (Bookshelf by Roger Lowenstein)  “The Myth of Independence” by Sarah Binder and Mark Spindel. [After each financial disaster, Congress off-loads blame on the Fed, threatening stricter controls and fuller accountability.]  10-10-17
  180. Fed. “Woodpeckers for Sound Money.” By Judy Shelton.  [The fed doesn’t need a ‘hawk’ or a ‘dove,’ but someone to hammer away for the dollar’s integrity.]  10-12-17
  181. Fed. “The Fed Chief America Needs.”  By George F. Shultz and John F. Cogan.  [The president should pick someone who understands that the economy can grow more than 2% a year.]  10-19-17
  182. Fed. “A Fed for a Growth Economy.”  [Trump needs a leader at the central bank who supports faster growth.]  10-20-17
  183. Fed. “The Case for Keeping Janet Yellen.”  By Alan S. Blinder.  [The Fed can’t fix every economic ailment.  But macroeconomically, the U.S. is terrific right now.]  10-26-17
  184. Fed. “Mnuchin gets His Man.”  [The Senate needs to do some vetting of Fed nominee Powell.]  11-3-17
  185. Fed. “New Priorities for a New Fed Regime.”  By Martin Feldstein.  [Incoming leadership should make maintaining financial stability one of the central bank’s goals.] 11-30-17
  186. Fed. “A Goodfriend for the Fed.”  [Trump nominates an experienced monetary hand for the central bank.]  12-1-17
  187. Fed. “Yellen’s Fed Farewell.”  12-14-17
  188. Fed. “The Return to Normal Risk.” [Equity markets welcome Jay Powell as Federal Reserve Chairman.] 2-6-18
  189. Fed. “The Fed Gets Optimistic – for the Fed.” [A bump in the growth forecast and labor market potential.] 3-22-18
  190. Fed. “What the Fed Could Learn From Bitcoin.” By Max Raskin. [The cryptocurrency is committed to passive monetary policy.] 3-30-18
  191. Fed. “The Fed’s Capital Mistake.” [Regulators give in to the bank lobby’s wish for more leverage.] 4-20-18
  192. Fed. “The Quarles Quarrel Hurts the Fed.” By Peter Conti-Brown. [Until he’s confronted, he can’t function as an independent central banker.] 4-24-18
  193. Fed. “How the Unfettered Fed Flattened the Phillips Curve.” By Neel Kashkari. [Insulating the central bank from politics made it possible to keep inflation and unemployment low.] 5-22-18
  194. Fed. “The Fed Can’t Save Jobs From AI And Robots.” By Martin Feldstein. [The central bank’s employment mandate can’t be squared with coming tech disruption.] 6-11-18.
  195. Fed.  “Powell Doesn’t Get High.”  [The Fed stays gradual even as wholesale prices rise above its 2% target.]  6-14-18
  196. Fed. “When the Bailouts Stopped.” (Bookshelf by George Melloan) “The Fed and Lehman Brothers. By Laurence M. Ball. [The collapse of Lehman Brothers shocked global markets. It could have been prevented, but politics won out over prudence.] 7-2-18
  197. Fed.  “The Fed’s Job Isn’t to Make Trump Happy.”  By Peter Conti-Brown.  [The president crossed a line in commenting on interest rates.  The central bank needs to redraw it.]  7-23-18
  198. Fed.  “Save Low Interest for a Rainy Day.”  By Martin Feldstein.  [President Trump chided the Fed for raising rates, but the move creates space to spur the economy later on.]  7-27-18
  199. Fed.  “The Fed Should Raise Rates, but Not the Ones You’re Thinking.”  By Jason Furman.  [Lift capital standards while the sun is shining, and then they can be cut once the rain arrives.]  8-21-18
  200. Fed.  “The Myth of the All-Powerful Federal Reserve.”  By David Ranson.  [The central bank used to have a decisive role in determining growth.  But the economy has moved. On.]  8-22-18
  201. Fed.  “A Return to Normalcy Will Be the Fed’s Biggest Test.”  By Alan S. Blinder.  [Once interest rates reach the target level next year, monetary hawks and doves will fight over the future.]  9-11-18
  202. Fed.  “Narrow Odds for Narrow Banks.”  [The Fed’s disparate treatment of TNB hurts depositors.]  9-13-18
  203. Fed. “The Fed Gets Optimistic.” [Its September estimates are the fourth upward growth revision in a row.] 9-27-18
  204. Fed.  “Ben Bernanke’s End Game.”  [As ‘financial repression’ ends, risk assets are likely to get riskier.]  10-11-18
  205. Fed.  “The Fed Is Anything but Crazy.”  By Alan S. Blinder.  [President Trump’s ranting aside, the central bank isn’t tight, and steady rate increases are prudent.]  10-18-18
  206. Fed.  “The Fed Finally Unties Its Own Hands.”  By Benn Steil and Benjamin Della Rocca. [It recently signaled that it may cease publicizing long-term plans, allowing itself much-needed flexibility.]  10-23-18
  207. Fed.  “Trump Flunks Fed Politics.”  [Bashing Jay Powell makes it harder to keep interest rates low.]  10-25-18
  208. Fed.  “Congress Should Set the Fed’s Inflation Target – Ideally at Zero.”  By Amar Bhide.  [There’s no evidence that aiming for 2% does any good, and it could do real economic harm.]  11-7-18
  209. Fed.  “The Last Monetary Hero.”  (Bookshelf by James Grant.)  “Keeping At It.” By Paul Volker.  [The Fed under Ben Bernanke opened the monetary spigots;  the Fed under Paul Volcker shut them off – and ended an inflation crisis.]  11-26-18
  210. Fed.  “Raise Rates Today to Fight Recession Tomorrow.”  By Martin Feldstein.  [A downturn is inevitable as asset prices fall.  The fed can prepare by continuing to raise rates now.]  11-27-18
  211. Fed.  “The Fed’s Welcome Rethink.”  [And Donald Trump did not make Powell and Clarida say it.]  11-29-18
  212. Fed.  “Can Trump Fire Jerome Powell?  It’s a Political Question.”  By Peter Conti-Brown.  [The justice Department told SBJ in 1965 he didn’t have that power.  The law has since evolved.]  12-11-18
  213. Fed.  “Fed Tightening?  Not Now.”  By Stanley F. Druckenmiller and Kevin Warsh.  [The central bank should pause its double-barreled blitz of higher interest rates and tighter liquidity.]  12-17-18
  214. Fed.  “Time for a Fed Pause.”  [Inflation and other economic signals justify interest-rate caution.]  12-18-18
  215. Fed.  “Powell to Markets:  Take That.”  [The Fed says more rate increases are coming, so get used to it.]  12-20-18
  216. Fed.  “Overconfidence at the Fed.”  [Stocks are down more than 8% since last week’s monetary move.]  12-26-18
  217. Fed.  “The Fed’s Obama-Era Hangover.”  By Phil Gramm and Thomas B. Saving.  [By paying banks not to lend, the central bank diminished its ability to control interest rates.]  1-2-19
  218. Fed.  “Why the Fed Should Heed the Market.”  By Edward P. Lazar.  [Stock trends are the best predictor of growth.  Recent volatility should give the central bank pause.]  1-10-19
  219. Fed.  “An Independent Fed Isn’t ‘Loco,’ It’s Effective.”  By Alan S. Blinder.  [Unelected technocrats are exactly the type of people you should wat making monetary-policy decision.]  1-24-19 ((Blinder was an adviser to Al Gore and John Kerry during their respective presidential campaigns in 2000 and 2004)
  220. Fed.  “The Fed Apologizes.”  [Powell continues his rehabilitation tour, and markets applaud.”  1-31-19
  221. Fed.  “The Fed Is a Threat to Growth.”  by Stephen Moore and Louis Woodhill.  [The real economy is ready to reignite, but Powell’s tight-money policy is acting like a wet blanket.]  3-14-19
  222. Fed.  “Patience Is Now a Fed Virtue.”  [The central bankers now expect no rate increases in 2019.]  3-21-19
  223. Fed.  “Steve Moore for the Fed.”  [If making wrong forecasts is a problem, he has lots of company.]  3-29-19
  224. Fed.  “The Fed and the Professor Standard.” By Herman Cain.  [The central bank needs new voices that will speak up for a stable dollar, which leads to prosperity.]  4-18-19
  225. Fed.  “The Herman Cain Lesson for Trump.”  [The President’s Fed bashing isn’t helping his nominees.]  4-23-19
  226. Fed.  “A Professor For Stephen Moore.”  By Jermey J. Siegel.”  [I don’t always agree with him, but he’d help solve the Federal Reserve’s groupthink problem.] 4-29-19
  227. Fed.  “The Fed Is Flying Blind on Inflation.”  By Andy Kessler. [Even Alan Greenspan, erstwhile maestro, now acknowledges ‘bias in the statistics.’]  5-13-19
  228. Fed.  “Notable & Quotable:  Fed Line.”  […If the Fred becomes a general purpose agency of economic policy, it will lose its special monetary prerogatives…]  5-13-19
  229. Fed.  “High Interest Rates Are Hobbling Growth.” By Andy Puzder and Jon Hartley.  [The Fed strengthened the dollar when U.S. growth and global stagnation were already boosting its value.]  5-30-19
  230. Fed.  “Trump wants to Cut Interest Rates.  Powell Should Do It Anyway.´ by Donald L. Luskin.  [The chairman made the case last year for easing if the yield curve inverts as it did in March.]  6-4-19
  231. Fed.  “The Fed Can’t Bail Trump Out.”  By George Melloan.  [‘Monetary stimulation’ didn’t help Obama and won’t now counter reckless spending and trade wars.]   6-6-19
  232. Fed.  “Has the Federal Reserve Lost Its Mojo?”  by Phil Gramm and Thomas R. Saving. [The central bank has less control over market interest rates today than at any time in its history.]  6-18-19
  233. Fed.  “A Split Fed Decision.”  [The Fed can’t save the economy from bad trade policy.]  6-20-19
  234. Fed.  “A British Warning for the Rump Fed.”  By Joseph C. Sternberg.  [Monetary policy is a poor substitute for the supply-side reforms the president can’t or won’t undertake.]  6-21-19
  235. Fed.  “Trump, the Fed, and Interest Rates.”  (The Weekend Interview with Judy Shelton by Tunku Varadarajan.)  [A leading candidate for the central bank’s board offers philosophical support for the president’s impulses on monetary policy.]  6-29-19
  236. Fed.  “The Trump Fed 2.0.”  [Two nominations inject some much-needed intellectual diversity.]  7-5-19
  237. Fed. “The Fed Could use a golden Rule.” By James Grant. [Abandon the Ph.D. standard, which brought the era of government bailouts and too big to fail.] 7-12-19
  238. Fed. “A New Tactic in Trump’s War on the Fed.” By Alan S. Blinder. [He can’t fire Powell, so he’s sending over dreadful nominees to make the chairman’s job harder.] 7-16-19 (Blinder was an adviser to Al Gore and John Kerry during their respective presidential campaigns in 2000 and 2004)
  239. Fed. “Forget the Gold Standard and Make the Dollar Stable Again.” By John H. Cochrane. [Precious metals no longer make sense as a store of value. Instead, peg money to goods and services.] 7-18-19
  240. Fed. “Cryptocurrency to the Rescue.” [Facebook’s Libra could help the poor who lost credit after Dodd-Frank.] 7-19-19
  241. Fed. “The Confusing Federal Reserve.” [The second-quarter GDP report did not make the case for easing.] 7-30-19
  242. Fed. “A Fed Reversal Will Store Up Trouble.” By Danny Yong and Nikhil Srinivasan. [The central bank may cut interest rates when asset prices are high and unemployment low. Why?] 7-30-19
  243. Fed. “The Fed Buys ‘Insurance.’” [Monetary policy isn’t a job with Jay Powell. It’s an adventure.] 8-1-19
  244. Fed. “Maybe We’re All Gold Bugs Now. By Joseph C. Sternberg. [Standard monetary wisdom on exchange rate doesn’t quite work in the increasingly global system.] 8-2-19
  245. Fed. “Jay Powell’s Public Option.” [The Fed may elbow out a private real-time payments system.] 8-3-19
  246. Fed. “The Very Political Fed.” [The central bank looks to dominate the real-time payments market.] 8-6-19
  247. Fed. “America Needs an Independent Fed.” By Paul Volker, Alan Greenspan, Ben Bernanke and Janet Yellen. [The economy functions best when the central bank is free of short-term political pressures.] 8-6-19
  248. Fed. “Trump Is Right – the Fed Is Still Tightening.” By Donald L. Luskin. [Sure, the size of the balance sheet is holding steady, but leaving riskier assets in the market will slow growth.] 8-13-19
  249. Fed. “Central Bankers in Glass Houses.” By Charles W. Calomiris. [The Fed was politicized long before Donald Trump got to the White House of even started tweeting.] 8-16-19
  250. Fed. “The Federal Reserve Resistance.” [A recent official urges the central bank to help defeat Donald Trump.] 8-28-19
  251. Fed. “The Fed Can’t See Its Own Shadow.” By Andy Kessler. [Its asset purchases are squeezing nonbank lending and sinking long-term bond rates.] 9-9-19
  252. Fed. “The Fed’s Mandate Is Up to Congress and the President.” By Judy Shelton. [Lawmakers in the past have broadened the central bank’s goals, directing it to boost U.S. competitiveness.] 9-17-19
  253. Fed. “Powell Walks the Line.” [A divided Fed cuts rates by 25 points without a clear rationale.] 9-19-19
  254. Fed. “When President’s Pummel the Fed.” By Alan S. Blinder. [Before Bill Clinton, such browbeating was the norm. Powell has endured Trump’s assaults with dignity.] 9-19-19
  255. Fed. “To Make Banks Stable, End, Don’t Mend, the Repo Market.” By Amar Bhide. [“…Simple explicit guarantees would reduce the complexity of short-term borrowing by banks…”] 10-2-19
  256. Fed. “The Fed Needs Trust, Not Tactics.” By Kevin Warsh. [Interest-rate cuts won’t hold off the next downturn. The central bank must assure markets with a plan.] 10-29-19
  257. Fed. “The Fed Should speak English for a Change.” By Alan s. Blinder. [Its long-awaited policy review, expected this year, should also reconsider the 2% inflation target.] 1-7-20
  258. Fed. “The Fed Pretends to Listen.” By Donald L. Luskin. [Central Bankers insist on promoting inflation. What we’ve got here is failure to communicate.] 1-29-20
  259. Fed. “The War on Judy Shelton.” [Mandarins rebel against a Fed pick who doubts their monetary wisdom.] 2-13-20
  260. Fed. “Why the Economics Establishment Hates Judy Shelton.” by Joseph C. Sternberg. [They fear she may be right about the gold standard and the causes of declining productivity growth.] 2-14-20
  261. Fed. “The Fed Can’t Wait to Respond to the Coronavirus.” By Kevin Warsh. [The pandemic is a threat to the global economy. U.S. central bankers should lead a global response.] 2-27-20
  262. Fed.   “The Fed’s Market Emollients.” [The central bank has liquidity tools to ease financial conditions.] 3-10-20
  263. Fed. “The Liquidity Cavalry.” [The Fed aids the Treasury market but in confusing fashion.] 3-13-20
  264. Fed. “The Fed Returns to 2008.” [“…whether the methods deployed against a financial solvency panic in 2008 will work against a pandemic-caused liquidity panic is far from certain…”] 3-16-20
  265. Fed. “The High Cost of Low Interest Rates.” By James Grant. [Irresponsible policy from the Federal Reserve made the coronavirus crisis worse than it had to be.] 4-2-20
  266. Fed. “The Fed’s new Mission To Save the Economy.” By Gary Cohn and Glenn Hutchins. [The central bank’s lending programs will need top-shelf staff and rigorous disclosure.] 4-7-20
  267. Fed. Coronavirus. “To Boost Liquidity, Expand the definition of Collateral.”   By Michael Klowden and Michael Piwowar. [The Fed’s Term Asset-Backed Securities Loan Facility can do more to keep the economy afloat.] 4-9-20
  268. Fed. “The Fed’s ‘Main Street’ Miracle.” [The central bank’s terms favor Wall Street and take new credit risks.] 4-10-20
  269. Fed. “The Fed and Main Street.” [The central bank is setting itself up for a political backlash.] 4-17-20
  270. Fed. “The Main Street Fakeout.” [The Fed’s terms suggest it really doesn’t want to lend to these companies.] 5-1-20
  271. Fed. “Why the Fed may Not Duck Inflation This Time.” By Phil Gramm and Mike Solon. [Banks’ excess reserves limited the money supply after 2008, but looser rules today might give way.] 5-29-20
  272. Fed.  “Powell Has Become the Fed’s Dr. Feelgood.” By James Grant.  [Overprescription of monetary medicine has the economy addled, addicted and searching for a fix.]  6-29-20
  273. Fed.  “Judy Shelton Steps Closer to the Fed.”  [In the Federal Reserve’s new activist era, it could use a fresh perspective.]   7-23-20
  274. Fed.  “Jerome Powell’s Price-Fix Is In.”  [The Fed flirts with controlling the Treasury debt yield curve.]   7-28-20
  275. Fed.  “Lend Freely at a Subsidized Rate.”  [The Fed lends New York’s MTA $451 million at a market discount.]   8-19-20
  276. Fed.  “Low Rates Forever!”  [The Federal Reserve takes a leap into the monetary unknown.]   8-28-20
  277. Fed.  “The Fed Puts Its Independence on the Line.”  By Kevin Warsh.  [The central bank is on a one-way path to a larger role in our government and economy.]  9-8-20
  278. Fed.  “Powell Becomes the Anti-Volker.”  [The Fed says it will keep interest rates at near zero through 2023.]  9-17-20
  279. Fed.  “The Fiscal Federal Reserve.”  [Powell signs up to monetize trillions in more spending.]    10-8-20
  280. Fed.  “Jerome Powell’s Big Political Gamble.”  By Joseph C. Sternberg.  [The Fed is independent as a safeguard against fiscal indiscipline.  The chairman is shirking that duty.]   10-9-20
  281. Fed.  “Judy Shelton’s Heresy.”  [The Fed now agrees with her on interest rates, but the Beltway club objects.]   11-18-20
  282. Fed.  “Steve Mnuchin’s Finest Hour.”  [The Treasury chief decides to end Fed programs as intended.]   11-21-20
  283. Fed.  “Shelton and Fed ‘Independence.’”  [Lamar Alexander misses the political nature of the current Fed.]   12-3-20
  284. Fed.   “The Fed’s Stimulus Paradox.”  [The central bank again revises its growth forecasts upward.]  12-17-20
  285. Fed.  “Hijacking the Fed to Bail Out States.”  [Democrats are blocking Covid relief to keep 13(3) pandemic lending alive.]   12-18-20
  286. Fed.  “How the Fed Stifles Lending.”  By Andy Kessler.  [Quantitative easing hoovers up bonds, leaving less collateral for eager borrowers.]   1-4-21
  287. Fed.  “The Fed’s ‘Racial Equity’ Dilemma.”  [“…One lesson …is that the entire effort to racialize monetary policy is misguided…”]   2-12-21
  288. Fed.  “The Money Boom Is Already Here.”  By John Greenwood and Steve H. Hanke.  [Since February 2020, the M2 supply has increased 26% – the largest one-year jump since 1943.]   2-22-21
  289. Fed.  “Questions for Chairman Powell.”  [What does he make of the surge in asset prices and bond yields?”   2-23-21
  290. Fed.  “Powell Says Full Ease Ahead.”  [The Fed chief promises Treasury purchases as far as the eye can see.]   2-25-21
  291. Fed.   “Fed Policy Is Smothering Privat Lending.”  by Judy Shelton. [Banks, leery of making risky loans in the real economy, do business with the central bank instead.]   3-9-21
  292. Fed.  “Powell Catches the Fiscal Bus.”  [congress passed the spending he wanted.  Now he has to finance it.]   3-16-21
  293. Fed.  “There’s No Need to Panic About a Little Inflation.”  By Alan S Blinder. [A much bigger concern for the Fed is the real human misery caused by slack in the labor market.]   3-16-21  (Blinder was an adviser to Al Gore and John Kerry during their respective presidential campaigns in 2000 and 2004.)
  294. Fed.  “The Fed Has No Worries.”  [Growth will boom, inflation will rise, but no monetary tightening.]  3-18-21
  295. Fed.  “End the Fed’s Mission Creep.”  By Alexander William Salter and Daniel J. Smith.  [The central bank is getting involved in too many things that have nothing to do with monetary policy.]   3-26-21
  296. Fed.  “The Fed’s Real Diversity Problem.”  [The central bank’s ‘groupthink’ isn’t about race and gender.]   4-24-21
  297. Fed.  “The Fed in the Sand as Inflation Threatens.”  By Mickey D. Levy and Michael D. Bordo.  [We aren’t going back to the 1970s, but the central bank isn’t being realistic about the risk of higher prices.]   4-27-21
  298. Fed.  “The Fed Board Agrees Never to Disagree.”  By Judy Shelton.  [During Yellen’s tenure and Powell’s, no governor has cast a dissenting vote on monetary policy.]  5-5-21
  299. Fed.  “The Fed Is Playing With Fire.”  By Christian Broda and Stanley Druckenmiller.  [Clinging to an emergency policy after the emergency has passed, Chairman Powell courts asset bubbles.]   5-11-21
  300. Fed.  “Powell Gets His Inflation Wish.”  [The Fed Chairman wanted higher prices.  Lets hope it’s ‘transitory.’]   5-13-21
  301. Fed.  “Great Inflation Expectations Won’t Save the Fed.”  By Joseph C. Sternberg.  [Jawbone all you want, both Main Street an Wall Street know price high jinks when they see them.]   5-21-21
  302. Fed.  “The Fed Lacks Precision Inflation Tools.”  By Judy Shelton.  [The central bank is likely to have trouble taming prices without hurting the real economy.]   5-28-21
  303. Fed.  “Powell’s Dollar, China’s Problem.”  6-4-21
  304. Fed.  “The Fed’s Risky Fill-the-Punch-Bowl Strategy.  By Kevin Warsh.  [Growth is surging, the housing market is hot, and inflation is on the rise.  It’s time to pull back.]   6-8-21
  305. Fed.  “The Fed’s Duty Is to the Economy, Not ‘Equity.’”  By Michael T. Belongia and Peter N. Ireland.  [Central banks are risking their independence by wading into social agendas outside their purview.]   6-10-21
  306. Fed.  “The Rising Stakes for the Fed.”  [The risks to its credibility and independence are growing.]   6-15-21
  307. Fed.  “No Inflation Worries at the Fed.”  6-17-21
  308. Fed. “Is There a Central Banker in the House?”  by Joseph C. Sternberg.  [It often feels as if no one is in charge of monetary policy in the word’s largest economy.]   6-18-21
  309. Fed.  “The Fed Is Underestimating the Risk of Inflation.”  By Tim Congdon.  [The data suggest prices will continue to increase, but the bank is guilty of faulty analysis.]   7-6-21
  310. Fed.  “Powell Gets His Inflation.”  [‘Transitory’ price increases are now up 5.4% year-over-year.]   7-14-21
  311. Fed. “Too Much Money Portends High Inflation.”  By John Greenwood and Steve H. Hanke.  [The Fed should pay attention to Milton Friedman’s wisdom.]  7-21-21
  312. Fed.  “The Fed’s Big Inflation Miss.”  [If you bet on the central bank’s price forecasts, you lost.]   7-29-21
  313.  Fed.  “How the Fed Is Hedging Its Inflation Bet.”  By Phil Gramm and Thomas R. Saving.  [Though few have noticed, the central bank is already slowing the growth of the money supply.]   8-2-21
  314. Fed.  “Lessons for today From the Gold standard.”  By William J. Luther and Alexander William Salter.  [Though a return to the old system isn’t likely, the Fed’s management of the fiat dollar has been worse.]  8-3-21
  315. Fed.  “Everyone Else Gets Fed Up.”  [U.K. inflation leaves policy makers in a bind if the Fed won’t act, too.]   8-6-21
  316. Fed.  “Joe Manchin’s Inflation Risk.”  [He warns he Fed, but the Senator’s spending is part of the problem.]  8-9-21
  317. Fed.  “Now It’s Everyone’s Dollar, and Everyone’s Problem.”  By Joseph C. Sternberg.  [Debate over who should lead the Fed will focus on regulation and politics.  What about the currency?]   8-27-21
  318. Fed.  “Powell Takes a Victory Lap.”  [The Fed chairman says everything the White House wants to hear.]  8-29-21
  319. Fed.  “Congress Needs to Rein In a Too-Powerful Federal Reserve.  By Judy Shelton. [The Fed’s unchecked power has led to measures favoring those who live off portfolios, not paychecks.]   9-2-21
  320. Fed.  “The Fed Follows Misguided ‘forward Guidance.’”  By Benn Steil and Benjamin Della Rocca.  [The central bank could bind itself to its own forecasts if it were good at predicting the future, but it isn’t.]  9-17-21
  321. Fed.  “Powell’s Reappointment Credential.”  [The Fed chairman blew it on inflation, but he’s kept asset prices high.]   9-23-21
  322. Fed.  “More Diversity at the Fed.”  [The two regional bank openings are a chance for fresh thinking.]   9-29-21
  323. Fed.  “Does the Fed Have the Will to Fight Inflation?”  by Jason De Sena Trennert.  [Real tightening could pose risks to the economy and, in turn, to the central bank’s independence.]   10-4-21
  324. Fed.  “Dangers of a Digital Dollar.”  By Alexander William Salter.  [If widely used, it would give the central bank unprecedented power over the financial system.]   10-6-21
  325. Fed.  “How the Fed Finances U.S. Debt.”  By Judy Shelton.  [Look behind the federal books to see the ways monetary policy has come to abet runaway spending.]  10-14-21
  326. Fed.  “Don’t Politicize the Fed, Reappoint Chairman Jerome Powell.]  by Alan S. Blinder.  [Lael Brainard should get the nod in four years and be made vice chairman for supervision now.]   10-25-21
  327. Fed.  “Fed Complacency Feeds Inflation.”  By Mickey B. Levy.  [The central banks’ strategy is meant to help lower-income earners, but rising prices hit them hardest.]  11-1-21
  328. Fed.  “The Fed Needs to Remove Its Blinkers.”  By Judy Shelton.  [A monetary mistake based on an outdated paradigm could trigger a recession or even worse inflation.]   11-17-21
  329. Fed.  “Tweedledum and Tweedledee at the Fed.”  [Powell and Brainard have both presided over the inflation breakout.]  11-18-21
  330. Fed.  “How the Fed Rigs the Bond Market.”  By Lawrence Goodman.  [Sales by ‘vigilantes’ used to serve as a warning of inflationary policies.  The signal has been muted.]  11-18-21
  331. Fed.  “Biden Signs Up for Powell’s Inflation.”  [Republicans are under an obligation to endorse his Fed nominees.]   11-23-21
  332. Fed.  “Sic ‘Transitory’ Gloria.”  [“…finally jettisoned the word “transitory” to describe today’s inflation.”]   12-1-21
  333. Fed.  “’No’ on Jerome Powell at the Fed.”  By Tom Cotton.  [He’s failed in his main mission, to keep the currency sound.]  12-2-21
  334. Fed.  “What Jerome Powell Can’t Say, and Doesn’t Know.”  By Joseph C. Sternberg. [The Fed chief sticks to untested new policy tools while inflation transforms the American economy.]   12-3-21
  335. Fed.  “November’s Jobs Message to the Fed.”  [The labor market is healthy enough to take higher interest rates.]  12-4-21
  336. Fed.  “The Fed Is the Main Inflation Culprit.”  By Kevin Warsh.  [The central bank has enabled price increases that may soon pose a risk to financial stability.]  12-13-21
  337. Fed.  “Hawkish Fed Talk, Dovish Action.”  [The central bank signals negative real interest rates throughout 2022.”  12-16-21
  338. Fed.  “Jerome Powell, Fiscal Lobbyist.”  [The Fed chairman wants us to forget his role as spending cheerleader.]  12-17-21
  339. Fed.  “It’s Time for the Fed to Go Old School.”  By Judy Shelton.  [No fancy stuff. Raise rates via open-market operations that reduce the size of the balance sheet.]   12-23-21
  340. Fed.  “The Greening of the Federal Reserve.”  [Powell endorses bank stress tests to allocate capital for climate policy.]   1-12-22
  341. Fed.  “An Inflated Sense of Ability.”  (Bookshelf by Joseph C. Sternberg.)  “The Lords of Easy Money.”  By Christopher Leonard.  [The Federal Reserve’s faith in monetary policy shows how startlingly little it understands about its disconnection form Main Street.]   1-13-22
  342. Fed.  “Biden Plays Capture the Fed.”  [Sarah Bloom Raskin wants to politicize bank supervision.]  1-18-22
  343. Fed.  “A politicized Fed Endangers the Economy.”  By Jeb Hensarling.  [The central bank can’t deliver price stability if it’s distracted by climate change and social justice.]  1-18-22
  344. Fed.  “The Fed’s Fledgling Hawks.”  [The central bank talks tougher on inflation but it still isn’t acting like it.]  1-27-22
  345. Fed.  “’No’ on Sarah Bloom Raskin.”  By Rim Stewart and Kathleen Sgamma.  [Biden’s appointee for Fed vice chairman is intent on destroying fossil fuels, no matter the economic cost.]  2-3-22
  346. Fed.  “The Fed Should Raise Interest Rates, but Gently.”  By Alan S. Blinder.  [Tightening is obviously necessary, but getting it right calls for caution, flexibility and humility.]   2-7-22
  347. Fed.  “Sarah Bloom Raskin’s Revolving Door.”  [How did her fintech firm mysteriously get a Fed master account?]   2-10-22
  348. Fed.  “The Fed Doesn’t Need a Censor.”  By Harold Uhlig.  [Will researchers speak freely about their findings if the Senate confirms Lisa Cook as a governor?]   2-14-22
  349. Fed.  “Unfit for the Federal Reserve.”  [Raskin and Cook are bad choices for such powerful financial posts.]   2-16-22
  350. Fed.  “Powell Is Wrong.  Printing Money Causes Inflation.”  By Steve H. Hanke and Nicholas Hanlon.  [“…The money supply as measured by M2…has been growing at record rates – with 39.9% cumulative growth since February 2020…]   2-24-22
  351. Fed.  “War in Ukraine Complicates the Red’s Inflation Strategy.  By Judy Shelton.  [The central bank ought to use this moment to reduce its significant footprint in financial markets.]  2-28-22
  352. Fed.  “Sarah Bloom Raskin Belongs at the Fed.” By Alan S. Blinder.  (Blinder was an adviser to Al Gore and John Kerry during their respective presidential campaigns in 2000 and 2004)  3-3-22
  353. Fed.  “How Politicized Is the Federal Reserve?”  by Emre Kuvvet.  [For every Republican economist the system employs, it has more than 10 Democrats.]   3-8-22
  354. Fed.  [The Fed Needs to Put Its Eye on the Money Supply.”  By John Greenwood and Steve H. Hanke.  [Slowing its growth without triggering a recession is a tricky proposition.  Is the central bank up for it?]   3-11-22
  355. Fed.  “The Humbling of the Federal Reserve.”  [The central bank faces an inflation mess of its own making.]  3-15-22
  356. Fed.  Let’s Start Getting Interest Rates Up.”  By Mickey B. Levy.  [The Fed is wrong to say that inflation will moderate.  It’s time to normalize monetary policy.]   3-15-22
  357. Fed.  “The Message of Sarah Raskin’s Defeat.”  [The Senate is saying it doesn’t want the Fed to allocate capital.]  3-16-22
  358. Fed.  “Jerome Powell, Inflation Fighter?”  [Even 11 rate hikes in two years would leave real interest rates negative.]   3-17-22
  359. Fed.  “Wish the Fed Luck as It Seeks a Soft Landing on Inflation.”  By Alan S. Blinder.  [Powell’s post-pandemic optimism didn’t count on adverse supply shocks from the war in Ukraine.]   4-7-22
  360. Fed.  “The Altimeter for Powell’s Soft Landing.”  By John Greenwood and Steve H. Hanke.  [Rate hikes alone risk an economic crash.  The key is to stabilize the growth of the broad money supply.]   4-11-22
  361. Fed.  “Learning to Believe the Fed.”  [Market ructions point to Jerome Powell’s credibility challenge.]   4-23-22
  362. Fed.  “Powell Puts Volker on Hold.”  [The Fed pulls back from its more hawkish anti-inflation signals.]   5-5-22
  363. Fed.  “The Fed and Reserve Trust Revisited.”  [The central bank reverses its decision on a fintech master account.]   6-10-22
  364. Fed.  “The Fed and Recession Fears.”  [As interest rates rise, Biden can help by ending his anti-growth policies.]   6-15-22
  365. Fed.  “Inflation Demands Bold Fed Action.”  By Mickey D. Levy and Charles I. Plosser,  [An increase in rates tis week is a good start.  The process will be painful, but it’s also necessary.]   6-15-22
  366. Fed.  “Volcker, Powell and the Price of Amnesia.  “ By Thomas J. Sargent and William L. Silber.  [The Fed should have heeded the lessons of 1980s inflation. ]  6-23-22
  367. Fed.  “Jerome Powell Takes a Pounding.”  [Elizabeth Warren anticipates the Fed Chair’s political future.]   6-23-22
  368. Fed.  “The Fed Can’t Cure Inflation by Itself.”  By John H. Cockrane.  [Economic and fiscal reforms are necessary to persuade the world that the U.S. will pay its debts.]  6-28-22
  369. Fed.  “The Fed Ignored the Money Supply, and a Recession Is Coming.”  By John Greenwood and Steve H. Hanke.  [Jerome Powell said M2 doesn’t have ‘important implication’ as inflation hit a 40-year high.]  7-8-22
  370. Fed.  “The Fed Needs to Act Like the Tortoise, Not the Hare.”  By Alan S. Blinder.  [The central bank is behind on raising rates, but if it tries to raise too quickly it risks overshooting.]   7-21-22  (Blinder was an adviser to Al Gore and John Kerry during their respective presidential campaigns in 2000 and 2004)
  371. Fed.  “Jerome Powell’s Fed Pursues a Painful and Ineffective Inflation Cure.”  By Elizabeth Warren.  [More aggressive interest-rate hikes will cost millions of jobs and won’t address the causes of high prices.] 7-25-22
  372. Fed.  “Why the Fed May Soon Need Treasury Help.”  By Judy Shelton.  [The central bank will be paying much more in interest on reserves to control inflation.]  7-27-22
  373. Fed.  “Investors Love Jerome Powell.”  [But is a fed funds rate at 2.5% really ‘neutral’ with inflation at 9%?]   7-28-22
  374. Fed.  “Goodbye Fed Guidance?  Let Us Hope.”  [Powell takes a half-step toward ending a misguided policy tool.]   7-28-22
  375. Fed.  “Whose Money Is It Anyway?”  (Bookshelf by Joseph C Sternberg.)  [The Fed Unbound.”  By Lev Menand.  [There are many good reasons to decentralize the power of money creation.  But the Federal Reserve has let things get out of hand.]   8-2-22
  376. Fed.  “What Jerome Powell Can Learn From Arthur Burns.”  By Thomas J. Sargent and Wm L. Silber.  [The 1970s Fed chairman choked when recession hit, inflation persisted, and then he blamed Congress.]   8-29-22
  377. Fed.  “Biden and Powell Are at Odds on Inflation.”  By Judy Shelton.  Monetary tightening can’t tame price increases in the face of a spendthrift White House and congress.]   9-2-22
  378. Fed.  “The Fed Can’t Reduce Inflation by Winging It.”  By Andrew T. Levin And Mickey D. Levy.  [The central bank needs a systematic strategy, such as the Taylor rule, and a focus on real interest rates.]   9-20-22
  379. Fed.  “The Fed’s March Upward.”  [The FOMC raises its terminal target rate forecast again – to 4.6%} 9-22-22
  380. Fed.  “The Fed, the Dollar, the Yen and You.”   [Dollar gyrations are becoming too wide for the Fed to ignore.]   9-23-22
  381. Fed.  “The Banker and Bailey Circus.”  [Britain’s financial turmoil is part of the inevitable monetary correction.]   9-29-22
  382. Federal Reserve.  “Stay the Course, Chairmen Powell.”  By Jason Furman.  [The arguments for the fed to back off its inflation-fighting path are all unpersuasive.]   10-6-22
  383. Fed.  “Jerome Powell’s Not for Turning – Yet.”  [The Federal Reserve stays the course as complaints mount.]   11-3-22
  384. Fed.  “The Fed Has Good Reasons to Slow Rate Increases.”  By Alan S. Blinder.  [The inflation fight isn’t over, but there’s evidence that the central bank is making progress.]  11-25-22
  385. Fed.  “The Federal Reserve Needs a Hard Look in the Mirror.”  By Mickey D. Levy and Charles Plosser.  [A strategic review is planned for 2025 at the earliest.  Given its mistakes, it needs one now.]   12-12-22
  386. Fed.  “Inflation Isn’t Vanquished Yet.”  [Price increases are slowing but the Fed still has work to do.]  12-14–22
  387. Fed.  “Jay Powell’s Finest Hawk Feathers.”    [The fed Chairman really, really wants you to believe him on inflation.]   12-15-22
  388. Fed.  “How the Federal Reserve Fed the FTX Meltdown.”  By Joseph C Sternberg.  [Central bankers said easy money would last forever.  Too bad retain investors took them at their word.]   12-16-22
  389. Fed.  “The Fed Makes some Progress.”   [Inflation is falling, but real wages have a long way to go to catch up.]   1-13-23
  390. Fed.  “Regrets?  The Federal Reserve Has Too Few.”  By Joseph C. Sternberg.  [If Jerome Powell wants to defend its independence, he’ll have to prove it has learned from its mistakes.]  1-13-23
  391. Fed.  “Jerome Powell Plays by the Rules.” By Jeffrey M. Lacker and Charles I. Plosser.  [The Fed’s actions on rates are driven by data.  Central bankers could do a better job of explaining this.]   1-30-23
  392. Fed.  “Paul Volcker’s Recipe for Prosperity.”  By Judy Shelton.  [He endorsed Reagan’s pro-growth objectives while maintaining the Fed’s independence.]  2-1-23
  393. Fed.  “’More Work to Do’ on Inflation.”  [Powell says the right things, but markets don’t seem so sure.]   2-2-23
  394. Fed.  “A Digital Dollar would Empower the Fed, Not Americans.”  By Sean Fieler.  [Anyone who believes in limited government should not support a central bank digital currency.]   2-8-23
  395. Fed.  “The Fed Now Has a Good Chance at a Soft Economic Landing.”  By Alan S. Blinder.  [Inflation is falling fast.  If the monetary hawks aren’t careful, they could fly into a recession.]   2-9-23  (Blinder was an adviser to Al Gore and John Kerry during their respective presidential campaigns in 2000 and 2004.)
  396. Fed.  “Battle of the Inflation Bulge.”   [The PE price rebound in January supports the view of the Fed’s hawks.]   2-25-23
  397. Fed.  “Fed Tightening Should Go Faster and Further.”  By Jason Furman. [The labor market and wage data call for a 50-basis-point increase and a terminal rate closer to 6%.]   3-3-23
  398. Fed. “Full Steam Ahead for Jerome Powell.”  [The markets tremble, but the Fed Chair knows he can’t let up now.]   3-8-23
  399. Fed.  “The Fed’s Sticky Inflation.”  [The February CPI numbers offer little relief for Jerome Powell.]   3-15-23
  400. Fed. “Fed Action Could Have Prevented SVB’s Collapse.”  By Hal Scott.  [A central function of the central bank is to act as the lender of last resort.  Why did it fail to do so?]   3-17-23
  401. Fed.  “U.S. Needs Economic Regime Change.”  By Kevin Warsh.  [The cost of stopping inflation would have been lower if the Fed had faced the problem earlier.]   3-20-23
  402. Fed.  “Mistakes the Fed Keeps Making.”  By Mickey D. Levy.  [A flawed model, had judgment, insufficient diversity of thinking and a lapse in risk management.] 3-21-23
  403. Fed.  “The Fed Tries to Thread the Needle.”  [Powell is keeping up the fight against inflation, for now.]   3-23-23
  404. Fed.  “The Fed’s Policies Haunt Financial Markets.”  By Judy Shelton.  [Paying people not to work is inflationary; paying people to increase supplies of goods and services isn’t.]   3-23-23
  405. Fed.  “For the First Time, the Fed Is Losing Money.”  By Paul H. Kupiec and Alex J. Pollock.  [Thanks to interest rate risk exposure, the central bank will soon have negative equity capital.]   3-27-23
  406. Fed.  “Turn Off the Fed Bubble Machine:  by Andy Kessler.  [Trying to ramp up aggregate demand serves no purpose if supply is constrained.]   4-10-23
  407. Fed.  “The Fed’s Climate Studies Are Full of Hot Air.”  By David Barker.  [One finds a correlation by assigning equal weight to all countries, from China to tiny St. Vincent.]  4-10-23
  408. Fed.  “The Fed Failed but Wants More Power.”  [As expected, Michael Barr blames Congress and his predecessor.]   5-1-23
  409. Fed.  “Ramaswamy Takes on the Fed.”  [The role of the central bank in our economy is a presidential-level issue.]   5-3-23
  410. Fed.  “Inflation Puts the Fed on Its Heels.”  By Mickey D. Levy.  [The economy is holding up well, but the central bank needs to get out in front of its biggest challenge.]   6-13-23
  411. Fed.  “No Inflation Reprieve for the Fed.”  [New data offer an excuse for a rate pause but not a declaration of victory.]  6-14-23
  412. Fed.  “The Fed’s Monetary Policy Tool Kit Needs an Overhaul.”  By Judy Shelton.  [Congress has allowed the central bank to become too powerful, too prominent, and too political.]   6-14-23
  413. Fed.  “What to Make of the Fed’s Interest-Rate Pause.”  By Alan S. Blinder.  [Milton Friedman’s famous monetary policy ‘lags’ are looking longer and more powerful than usual.]   6-16-23
  414. Fed.  “Strong Fed Chairmen Confront Spending.”  By Thomas J. Sargent and Wm. L. Silber.  [Powell says it isn’t his job.  Greenspan and Volcker would differ.]   6-20-23
  415. Fed.   “Team Transitory Had a Point About Inflation.”  By Alan S. Blinder.  [But we didn’t anticipate the war in Ukraine, and we underestimated the supply-chain bottlenecks.]   7-20-23
  416. Fed.  “’We Need to Get This Done.’”  [The Fed resumes its rate increases, despite gripes on Wall Street.]   7-27-23
  417. Fed.  “Fitch Tells the Federal Reserve To Wake Up.”  By David Malpass.  [The credit downgrade shows the urgency of rethinking regulatory, fiscal and monetary policy.]   8-4-23
  418. Fed.  “The Fed Should Carefully Aim for a Higher Inflation Target.”  By Jason Furman.  [If it can stick to stabilizing the economy now, then it can start thinking long term in 2025.]   8-21-23  (Mr. Furman, a professor of the practice of economic policy at Harvard, was chairman of the White House Council of Economic Advisors, 2013-17.)
  419. Fed.  “The Fed’s Pro-Inflation Critics Are Off Target.”  By Joseph C. Sternberg.  [Economists who want the target to rise to 3% ignore the harm it would do on Wall and Main streets.]   8-25-23
  420. Fed.  “Powell’s Very Slightly Hawkish Signal from Jackson Hole.”  By Alan S. Blinder.  [After preaching urgency in 2022, the chairman says the Fed is ‘in a position to proceed carefully.’”]   9-6-23
  421. Fed.  “Government Policies, Not Low Rates, Are Driving Inflation.”  By David Malpass.  [The Fed’s bond purchases make matters worse by enabling Washington’s fiscal irresponsibility.]   9-12-23
  422. Fed.  The Federal Reserve’s Dotted Line.”  [Powell stands pat on rates but signals tighter money for longer.]   9-21-23
  423. Fed.  “Profits and Losses Don’t Matter at the Federal Reserve.”  By Jason Furan.  [It doesn’t operate like a regular bank.  Its job is to adjust interest rates to meet its dual mandate.]   9-28-23
  424. Fed.  “We’re Still Paying for the Federal Reserve’s blunders.’ By Mickey D. Levy.  [Inflation has come down, but prices are still high, and Congress is spending at an unsustainable rate.]   10-26-23
  425. Fed.  “How the Fed Can Boost Growth.”  By David Malpass.  [Shrink the balance sheet, stabilize the dollar, get capital flowing, and speak out about fiscal profligacy.]   11-14-23
  426. Fed.  “The Federal Reserve Has an $8 Trillion Secret.”  By Joseh C. Sternberg.  [The balance sheet is one of the Fed’s most potent tools, but officials won’t say how they plan to use it.]   12-8-23
  427. Fed.  “Sun Shines on Fed ‘Doomsday Book.’”  By Enre Kuvvet.  [Through a single Freedom of Information Act request, I obtained the mysterious document.]   12-11-23
  428. Foreign Affairs.  “Cheer, Cheer for Old Notre-Dame.”  By Wm. McGurn.  [The cathedral’s spire rises – raising anew questions about French secularism.]  12-11-23
  429. Foreign Affairs.  “How to Fix Section 702 Surveillance.]  A house Judiciary draft would gut the tool and leave the U.S. vulnerable.]   12-11-23
  430. Foreign Affairs.  (Canada)  “NDP Keeps Justin Trudeau Afloat.”  By Micharl Taube.  [Canada’s prime minister faces political peril, but his job is safe unless his leftist partner abandons him.]   12-11-23
  431. Fed.  “Jay Powell’s Mixed Price Signals.”   [Contrary to Wall Street wishes, the Fed’s inflation work isn’t done.]   12-13-23
  432. Fed.  “Powell Makes His Inflation Pivot.”  [Equities and bonds soar as the Fed suggests easier money is coming.]   12-14-23
  433. Fed.  “The Fed Won’t Try to Boost Biden.”  By Mickey D. Levy.  [The central bank has only once changed its policy to help elect a presidential candidate:  Nixon in 1972.]  12-26-23
  434. Fed.  “The Federal Reserve Deserves a Pat on the Back.”  By John H. Cochrane.  [Paying interest on reserves allows the Red to provide liquidity and maintain financial stability.]   12-27-23
  435. Federal Reserve.  “Inflation Is Down, but It Wasn’t ‘Transitory.’“  By Wm.  L. Silber.  [The Federal Reserve’s monetary restraint was crucial in slowing the rise of prices.]   1-19-24
  436. Fed.  “Democrats Stumble Onto a Good Point on the Fed.”  By Joseph C. Sternberg.  [The central bank makes inherently political decisions, yet it has almost no political accountability.]    2-2-24
  437. Fed.  “Stop Fretting About the Federal Reserve’s ‘Soft Landing.’]   2-21-24
  438. Fed.  “The Fed’s Latest Problem:  A Strong Economy.”  By Mickey D. Levy.  [Improving productivity and better-than-expected growth make it risky to cut interest rates too much.]   3-4-24
  439. Fed.  “’Are They More Than Bumps?”  [Powell seems unworried by accelerating prices in January and February.]   3-21-24
  440. Fed.  “Maybe Monetary Policy Needs More Politics, Not Less.”  By Joseph C. Sternberg.  [Voters turn out to be less irresponsible than the technocrats who are supposed to protect them.]   3-22-24
  441. Federal Reserve.  “What if the Federal Reserve Is Wrong?”  [Commodity prices introduce a note of caution about rate cuts.]   4-5-24
  442. Federal Reserve.  “Another Cost of cheap Money Comes Into View.”  By Joseph C. Sternberg.   [Asset selloffs to unwind quantitative easing prove expensive for central bans – and taxpayers.]   4-5-24
  443. Fed.  “Why Is the Federal Reserve Always Surprised by Inflation?”  by Joseph C. Sternberg.  [The Central Bank owes the public an explanation – and a serious effort to correct its flawed model.]   4-19-24
  444. Fed.  “The Stock Market Could Be Calmer.”  By Jerr Yass.  [The Fed’s interference creates volatility and raises capital costs.]   5-2-24
  445. Fed.  “Powell Isn’t Too Worried About Inflation.”  [The Fed Chairman offers a sunny view about prices and the economy.]   5-2-24
  446. Fed.  “Quantitative Tightening Becomes a Trap for the Federal Reserve.”  By Joseph C. Sternberg.  [Now that the central bank has transformed the financial system, novel policies are hard to scrap.]   5-10-24

 

 

 

Issue Headlines

  • Fed. Headline: “Fed Regulation Has Insurers on Edge.” [“…The Fed’s foray into overseeing insurers – a power it gained in the 2010 Dodd-Frank financial law – is prompting concern among insurance companies and state regulators, who worry the central bank will enact onerous capital rules and treat insurance firms like banks…”] Wall Street Journal, 4-28-15 p. C1.

Fed. [News] “U.S. Lacks Ammo for Next Crisis.” Wall Street Journal. 8-18-15 p. A1

Fed. Drudgereport.com 8-20-15:

Traders Gird for Worst as Fed Loses Grip on Debt…

  • Fed. “Divided Fed Puts Yellen on Hot Seat.” Wall Street Journal, 8-20-15, page A1.

CONTRA NEWS AND VIEWS

If The Fed’s Forecasts Are Always Wrong—–How Can Its Policies Possibly Be Right?

by Cobden Center • August 31, 2015

BY RALPH BENKO at The Cobden Centre

Now comes one of the world’s top monetary reporters, Ylan Q. Mui, to make a delicate observation at the Washington Post’s Wonkblog, in Why nobody believes the Federal Reserve’s forecasts.

<<<<

http://www.washingtonpost.com/news/wonkblog/wp/2015/06/15/why-nobody-believes-the-federal-reserves-forecasts/

Wonkblog Why nobody believes the Federal Reserve’s forecasts

By Ylan Q. Mui June 15, 2015

<<<<

Fed. “World to Fed: Get On With It.” Wall Street Journal. 10-12-15 p. A1 [Sub head: Many central bankers prefer certainty over agony of waiting for the U.S. to raise rates.]

<<<<

Fed. End of Federal Reserve’s Independence.

https://mishtalk.com/2017/02/03/end-of-fed-independence/

Fed. “Forecasts By the Fed Are Stuck In the Past.” Wall Street Journal. By James Mackintosh. 3-21-17.   P. B1

Fed. Liquidating the financial crisis response portfolio.

https://mishtalk.com/2017/06/14/fed-lays-out-plan-to-s-l-o-w-l-y-reduce-balance-sheet-how-long-will-it-take/#more-46315

Fed. Liquidating the “crisis response” balance sheet. 6-14-17

Fed Lays Out Plan to S L O W L Y Reduce Balance Sheet: How Long Will It Take?

https://mishtalk.com/2017/06/14/fed-lays-out-plan-to-s-l-o-w-l-y-reduce-balance-sheet-how-long-will-it-take/#more-46315

Fed. Drudgereport.com 9-18-17

Fed setting America up for disaster?

http://thehill.com/opinion/finance/351153-the-federal-reserve-is-setting-america-up-for-economic-disaster

Bank Warns Prices Most Elevated In History…

Campaign Consideration

Talking PointS

Fed.   The Fed’s Credit Channel Is Broken And Its Bathtub Economics Has Failed by  • 

http://davidstockmanscontracorner.com/the-feds-credit-channel-is-broken-and-its-bathtub-economics-has-failed/?utm_source=wysija&utm_medium=email&utm_campaign=Mailing+List+AM+Wednesday

Fed.    Addressing the massive monetary bubble that the Fed has created:                        <<<<<

http://www.garynorth.com/public/13556.cfm   = Citing David Stockman’s works.

Cf.   http://davidstockmanscontracorner.com/

Fed. “The Bank That Makes Its Own Rules.” By Kevin A. Hassett. Bookreview: “The Power and Independence of the Federal Reserve,” by Peter Conti-Brown. Wall Street Journal, 3-5-16, p. C5:  [“…If you look at the activities that the Federal Reserve engages in these days and compare them with the things it has the authority to do, the difference is mind-boggling…”]

Fed: Liquidating the financial crisis response portfolio.  Opinion piece by “Mish”

Fed Lays Out Plan to S L O W L Y Reduce Balance Sheet: How Long Will It Take?

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