Central Banking/Federal Reserve

Publications

, Barron's
Inflation and the Fed
Alex J. Pollock

Forsyth suggests that a “‘complete financial externality’…would aptly describe the Great Financial Crisis of 2007-09.” I don’t think so. That crisis, like many others, was…

, Law & Liberty
What Does the Fed Know that Nobody Else Knows?
Alex J. Pollock

When it comes to the financial and economic future, everybody is myopic. Nobody can see clearly. That includes the Federal Reserve.

As François Villeroy de Galhau, the Governor of the Bank of…

An Open Letter to Members of Congress: Stop the Fed’s Real-Time Payment Takeover
R.J. Lehmann

Dear Members of Congress,

On behalf of the undersigned organizations, we write to urge you to oppose the Federal Reserve’s proposal to operate a real-time-payments system (RTP) that would…

, The Hill
The Fed must resolve its many policy contradictions this year
Douglas Carr

2019 is a benchmark year for U.S. monetary policy with the wind down of the Fed’s quantitative easing (QE) officially ending and the Fed announcing in June its new policy framework moving…

Comment Letter To OCC, Board of Governors of the Federal Reserve System, and FDIC
Alex J. Pollock

                                 &…

Over a century, which years were inflation-control champions and which booby-prize winners?
Alex J. Pollock

How much can the rate of inflation move around? A lot.

The Consumer Price Index (CPI) began in 1913, the same year
the Federal Reserve was created. The CPI’s path over the 106 years since then…

, The Heritage Foundation
The Fed Has Not Been Independent – Perhaps It Should Be Restructured
Media Coverage

From The Heritage Foundation:

The Federalist Society recently posted a podcast of me and R-Street’s Alex Pollock discussing Federal Reserve independence. This topic is…

, Law & Liberty
The Inescapably Political World of Banking and Finance
Alex J. Pollock

Banking always involves political economy,
as professor Mark Rose observes, or as we might more precisely say, political
finance. This is the central lesson of Rose’s Market…

, American Banker
Fed ‘independence’ is a slippery slope
Alex J. Pollock

Many observers, like Captain Renault in Casablanca, were “shocked, shocked!” at President Trump’s sharp criticism of the Federal Reserve and his attempt to influence it against raising…

, Forbes
The Fed Has Not Been Independent – Perhaps It Should Be Restructured
Media Coverage

From Forbes:

The Federalist Society recently posted a podcast of me and R-Street’s Alex Pollock discussing Federal Reserve independence. This topic is always fun…