Many economists take for granted that the Federal Reserve has contributed positively to economic stabilization in the U.S., but its track record warrants a critical appraisal. Since the creation of ...

Monetary Policy is implemented by the Federal Reserve Bank of the U.S. to control inflation, regulate interest rates, and support the efficient functioning of the banking system. Fiscal Policy is ...

I think there is a little too much abstraction in discussion of monetary topics today. For example, here’s former Fed Chairman Paul Volcker, speaking last June: By now I think we can agree that the ...