Alexander W. Salter
-
Financial
If Independent Agencies Are Unconstitutional, so Is the Fed
The Supreme Court has been systematically dismantling the modern administrative state. In several decisions, the justices have pushed back against…
Read More » -
Financial
The Fed’s Unlawful Floor System Pays Banks Billions to Sit on Reserves
Until very recently, the Federal Reserve had been ratcheting up bank regulations. Economists generally agree that excessive bank regulation dissuades…
Read More » -
Financial
The Fed Doesn’t Determine the Price of Credit. Markets Do
Recent movements in short-term loan markets are a timely reminder of a forgotten truth: The Federal Reserve is not the…
Read More » -
Financial
Inflated Worries: Don’t Sweat June’s Hot Prices
Inflation ticked up last month, the Bureau of Labor Statistics reported. The Consumer Price Index (CPI) rose 0.3 percent last…
Read More » -
Financial
Chairman Powell’s Curious Case for Abundant Reserves
Last week, Fed Chairman Jerome Powell delivered his semiannual monetary policy report to Congress. Fed watchers will find lots to…
Read More » -
Financial
Central Bank Independence: More Heat than Light
President Donald Trump’s on-again, off-again feud with Federal Reserve Chairman Jerome Powell has market observers apprehensive. Economists, policymakers, businessmen, and…
Read More » -
Financial
What is Central Bank Independence?
The explainer defines central bank independence, describes its theoretical desirability, and reviews classic and contemporary studies on how central bank…
Read More » -
Financial
Two Cheers (and a Warning) for May’s Inflation Slowdown
Disinflation is no longer a blip, but a trend. The Bureau of Labor Statistics reported that the Consumer Price Index…
Read More » -
Financial
April’s Prices Rose, But Inflation Cooled Overall
After slight deflation in March, prices rose again in April. The Bureau of Labor Statistics (BLS) reports that the Consumer…
Read More » -
Financial
Consumer Prices Fall in March
After a quarter-long inflationary resurgence, it looks like prices are now falling. The Bureau of Labor Statistics reported that the…
Read More »