Tag Archives: fomc
Modest Reflections on Varying Tolerances to Extreme Pain
Last week Fed Chairman Kevin Warsh delivered his debut alpha dog speech from Jackson Hole, Wyoming. It was titled “In Our Time,” and was billed as a broad blueprint for how he intends to govern. Namely, he wants a quieter Fed. Continue reading
From Pharaohs to the Fed
Since the very beginning of ordered government, rulers and their administrators have endeavored to control their economies. The conviction that there is a fair price for a certain good, and that it ought to be imposed by government decree, is a foolishness nearly all rulers are incapable of resisting. Continue reading
Liquidity At Any Cost
Over the last few years, it appeared that the Federal Reserve was finally attempting to get its house in order. After the insane pandemic-era peaks, where its balance sheet ballooned to over $8.9 trillion, the central bank spent years on a steady program of balance sheet reduction. Continue reading
Are You Ready for the Coming U.S. Government Default?
The popular American myth is that the U.S. government has never defaulted on its debt. Quite frankly, that’s an unadulterated lie. The U.S. government has (unofficially) defaulted on its debt twice within the last hundred years. Continue reading
