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No Reason to Fear Fed Rate Hikes

The current five-year old expansion would fare just fine and even be enhanced if the Fed began hiking rates. Normalizing interest rates should be welcomed, not feared by the Fed.

Watch for the FOMC Debates

The Federal Reserve’s policy statement, to be released immediately following this Wednesday’s meeting, will likely show further signs of dissension within the Federal Open Market Committee. For now, debate within the Federal Open Market Committee ought to be viewed as positive. 

Mr. Market Withholds His Approval

Every year, economists put pen to paper and make projections for the next 12 months. In addition to forecasts for real GDP growth, inflation and consumer spending, they look into their crystal ball to determine what the Federal Reserve will do with its benchmark rate and what long-term interest rates will do in response.

5 reasons Janet Yellen shouldn’t focus on income inequality

Since 1970, income inequality has increased for a number of reasons that should not concern Janet Yellen.

The Fed’s Inflection Point

The Federal Reserve has reached an inflection point. As they complete the last rounds of their bond-buying programs, Federal Open Market Committee members must now decide how quickly to bring short-term interest rates back to more normal levels from their current settings of near zero.


Economics21 at the Manhattan Institute is glad to announce that Caroline Baum will be joining as an e21 contributor beginning in October, writing two columns a month. 

Secular Growth, Not Stagnation

Long historical experience suggests that for the United States, average growth between 3 percent and 3.25 percent per year will remain the norm. And given the amount of resource underutilization that remains pervasive throughout the economy today, near-term growth rates well above that long-term average remain clear possibilities. 

My Response to NYT Columnist Krugman

On Friday, several friends told me that Krugman had criticized my published 

comments on inflation written several years ago. My position is this: yes, inflation is delayed, but the risk remains high. 

Measuring Regulation

How many regulations are there? Which industries have to jump through the most regulatory hoops? Which government agencies are most likely to pass new rules? 

The Mercatus Center at George Mason University recently rolled out RegData 2.0 to try to answer these questions.

The Case for the Gold Standard

“There has not been one instance in history where active monetary management has advanced an economy.” So goes the bold claim in the new book by Steve Forbes and Elizabeth Ames, Money: How the Destruction of the Dollar Threatens the Global Economy – and What We Can Do About It.


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