Monetary Policy
By minimizing the harm caused by recessions and high inflations, monetary policy can promote economic stability and create an environment in which individuals and businesses prosper and thrive. In pursuit of these goals, Mercatus research shows why and how the Federal Reserve should (a) follow a rules-based approach to making policy, (b) increase its transparency and accountability to the public, and (c) better utilize market signals.
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Latest work in Monetary Policy
- | Monetary Policy Monetary Policy
- | Policy Briefs Policy Briefs
Measuring Macroeconomic Policy: the NGDP Gap
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Saleha Mohsin on *Paper Soldiers: How the Weaponization of the Dollar Changed the World Order*
The global strength of the dollar has provided many economic and geopolitical benefits for the US, but it has also come with numerous costs, both domestically and internationally.
- | Monetary Policy Monetary Policy
- | Expert Commentary Expert Commentary
The Next Bank Bailout’s True Costs May Not Be Such a Mystery | The Hill
- | Monetary Policy Monetary Policy
- | Expert Commentary Expert Commentary
Climate-change Work Is a Reminder That the Basel Committee Has Outlived Its Usefulness | National Review
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Josh Hendrickson on the Treasury Standard and Global Dollar Dominance
From the collapse of the Bretton Woods system to the present, the US has continued to further implement its Treasury Standard across the globe as an effective economic and geopolitical tool.
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
Looking for New Life in the National and Regional Economy | GroundBreak Carolinas
- | Monetary Policy Monetary Policy
- | TV Appearance TV Appearance
Mortgage Rates Creep Higher, Carmax Stock Plunges | Yahoo! Finance Live
- | Monetary Policy Monetary Policy
- | TV Appearance TV Appearance
There’s No Real Case for the Fed To Cut Rates Right Now | CNBC
- | Monetary Policy Monetary Policy
- | Policy Briefs Policy Briefs
The Neutral Level of NGDP and the NGDP Gap: Q4 2023
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Julia Coronado on Productivity, Commercial Real Estate, and the Fed’s Soft Landing
As the Fed continues to seek a soft landing in 2024, election year politics and a shaky commercial real estate market are just a couple of the remaining challenges facing the central bank.
- | Monetary Policy Monetary Policy
- | Podcast Appearance Podcast Appearance
Buy the People: Why Everyone Loves To Hate the Fed | American Banker’s “Bank Shot”
- | Monetary Policy Monetary Policy
- | Podcast Appearance Podcast Appearance
Veteran Federal Reserve Exec Thomas Hoenig Warns We’re on a Trajectory for Crisis | Thoughtful Money
- | Monetary Policy Monetary Policy
- | Radio Appearance Radio Appearance
Forget About an Economic Recession? | South Carolina Public Radio
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Isabel Schnabel on the ECB and its New Operational Framework
After conducting its most recent review, the ECB has made important changes to its operational framework that will ensure continued effectiveness, efficiency, flexibility, and robustness.
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Andrew Levin and Christina Parajon Skinner on *Central Bank Undersight: Assessing the Fed’s Accountability to Congress*
Strengthening reporting requirements and implementing external reviews are just a couple of avenues that Congress could pursue to restore effective oversight of the Fed.
- | Monetary Policy Monetary Policy
- | TV Appearance TV Appearance
Fed Is Telling the Markets to ‘Curb Your Enthusiasm’ | Fox Business Network
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Anat Admati on the US Banking System and the Basel III Endgame
Requiring banks to fund with higher levels of capital is one way to promote a safer and healthier banking system.
- | Monetary Policy Monetary Policy
- | TV Appearance TV Appearance
Three Rate Cuts ‘Would Be a Surprise to Me’ at This Point | CNBC’s “Squawk Box”
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Steven Kamin and Mark Sobel on the Current State of Dollar Dominance
Given the liquidity, safety, and investor protections the dollar provides, its pivotal status as the world’s reserve currency provides numerous macroeconomic and geopolitical benefits.
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Peter Williams on Interest Rates, Term Premium, and the Importance of Inflation Expectations
Adding additional macroeconomic data to factor models may help provide a more stable estimate of the neutral rate of interest, or R-star.
Latest work in Monetary Policy
- | Monetary Policy Monetary Policy
- | Policy Briefs Policy Briefs
Measuring Macroeconomic Policy: the NGDP Gap
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Saleha Mohsin on *Paper Soldiers: How the Weaponization of the Dollar Changed the World Order*
The global strength of the dollar has provided many economic and geopolitical benefits for the US, but it has also come with numerous costs, both domestically and internationally.
- | Monetary Policy Monetary Policy
- | Expert Commentary Expert Commentary
The Next Bank Bailout’s True Costs May Not Be Such a Mystery | The Hill
- | Monetary Policy Monetary Policy
- | Expert Commentary Expert Commentary
Climate-change Work Is a Reminder That the Basel Committee Has Outlived Its Usefulness | National Review
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Josh Hendrickson on the Treasury Standard and Global Dollar Dominance
From the collapse of the Bretton Woods system to the present, the US has continued to further implement its Treasury Standard across the globe as an effective economic and geopolitical tool.
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
Looking for New Life in the National and Regional Economy | GroundBreak Carolinas
- | Monetary Policy Monetary Policy
- | TV Appearance TV Appearance
Mortgage Rates Creep Higher, Carmax Stock Plunges | Yahoo! Finance Live
- | Monetary Policy Monetary Policy
- | TV Appearance TV Appearance
There’s No Real Case for the Fed To Cut Rates Right Now | CNBC
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Julia Coronado on Productivity, Commercial Real Estate, and the Fed’s Soft Landing
As the Fed continues to seek a soft landing in 2024, election year politics and a shaky commercial real estate market are just a couple of the remaining challenges facing the central bank.
- | Monetary Policy Monetary Policy
- | Policy Briefs Policy Briefs
The Neutral Level of NGDP and the NGDP Gap: Q4 2023
- | Monetary Policy Monetary Policy
- | Podcast Appearance Podcast Appearance
Buy the People: Why Everyone Loves To Hate the Fed | American Banker’s “Bank Shot”
- | Monetary Policy Monetary Policy
- | Podcast Appearance Podcast Appearance
Veteran Federal Reserve Exec Thomas Hoenig Warns We’re on a Trajectory for Crisis | Thoughtful Money
- | Monetary Policy Monetary Policy
- | Radio Appearance Radio Appearance
Forget About an Economic Recession? | South Carolina Public Radio
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Isabel Schnabel on the ECB and its New Operational Framework
After conducting its most recent review, the ECB has made important changes to its operational framework that will ensure continued effectiveness, efficiency, flexibility, and robustness.
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Andrew Levin and Christina Parajon Skinner on *Central Bank Undersight: Assessing the Fed’s Accountability to Congress*
Strengthening reporting requirements and implementing external reviews are just a couple of avenues that Congress could pursue to restore effective oversight of the Fed.
- | Monetary Policy Monetary Policy
- | TV Appearance TV Appearance
Fed Is Telling the Markets to ‘Curb Your Enthusiasm’ | Fox Business Network
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Anat Admati on the US Banking System and the Basel III Endgame
Requiring banks to fund with higher levels of capital is one way to promote a safer and healthier banking system.
- | Monetary Policy Monetary Policy
- | TV Appearance TV Appearance
Three Rate Cuts ‘Would Be a Surprise to Me’ at This Point | CNBC’s “Squawk Box”
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Steven Kamin and Mark Sobel on the Current State of Dollar Dominance
Given the liquidity, safety, and investor protections the dollar provides, its pivotal status as the world’s reserve currency provides numerous macroeconomic and geopolitical benefits.
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Peter Williams on Interest Rates, Term Premium, and the Importance of Inflation Expectations
Adding additional macroeconomic data to factor models may help provide a more stable estimate of the neutral rate of interest, or R-star.