It’s Time for the Fed to Take On the Coronavirus Threat
The central bank can’t stop a supply shock, but it can mitigate the fallout.
Paul Volcker’s Noble War on Inflation
The late Federal Reserve chairman took necessary steps to save our economy. Critics shouldn’t miscast his legacy.
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.
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.
Against Higher Inflation
A better monetary policy wouldn’t set any inflation target.