On the home page, he complains that conservatives have not been devoting enough attention to various topics, including Fed policies he regards as dangerously inflationary. Yet the arguments he makes have in recent years been voiced by Paul Ryan, Newt Gingrich, Rick Perry, the editors of the Wall Street Journal, William Kristol and several contributors to The Weekly Standard, Larry Kudlow, Sarah Palin, George Will, Senator Bob Corker, Senator Ted Cruz, Senator Pat Toomey, Senator Tom Coburn, Representative Kevin Brady, seemingly everyone who contributes to Forbes, and writers for Reason and The American Conservative. What more does Roy want?
The Cleveland Fed’s latest estimate of market expectations of inflation, meanwhile, has prices rising 1.53 percent a year on average over the next ten years. That’s lower than any of the last four decades. Roy writes that “many conservatives have disdained monetary hawks as eccentric and quixotic.” I wish!