How Our Banker-to-the-World Role Affects the Budget Deficit
Our surfeit of safe assets makes the U.S. government more likely to run budget deficits.
The Latest
Why the U.S. Dollar Will Remain Strong
The real source of President Trump’s angst over the strong dollar is the special role played by the U.S. financial system in the global economy.
Trump Has the Monetary-Policy Blues
The Fed’s current inflation-targeting framework has forced monetary policy to be too tight for the better part of a decade.
A Monetary Correction
The Fed has erred by keeping money too tight, not too loose.
Against Higher Inflation
A better monetary policy wouldn’t set any inflation target.
Against Higher Inflation
A better monetary policy would replace the Fed's inflation target with a nominal-spending target.
Trump’s Appointments to the Fed Could Affect the Global Economy
Trump’s appointments to the Federal Reserve should appreciate its role in the stability of the global economy.
Cash Value
Former Treasury official Morgan Ricks’s new book provides a fresh take on the Great Recession that sharpens our understanding of it.