Many economists take for granted that the Federal Reserve has contributed positively to economic stabilization in the U.S., but its track record warrants a critical appraisal. Since the creation of ...

Monetary Policy is implemented by the Federal Reserve Bank of the U.S. to control inflation, regulate interest rates, and support the efficient functioning of the banking system. Fiscal Policy is ...

Conventional wisdom maintains that the Federal Reserve's monetary policy has been "loose" ever since interest rates dropped to near zero following the onset of the financial crisis. The Fed itself ...

I think there is a little too much abstraction in discussion of monetary topics today. For example, here’s former Fed Chairman Paul Volcker, speaking last June: By now I think we can agree that the ...

What is “the dollar” today? “The dollar” is the unit of market value used by the U.S. economy and also widely in world trade. However, unlike our other units of measure, the dollar has had no ...