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.
Featured
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Michael Strain on Averting the Looming Debt Ceiling Disaster
Michael Strain is the Director of Economic Policy Studies and the Arthur F. Burns Scholar in Political Economy at the American

- | Monetary Policy Monetary Policy
- | Data Visualizations Data Visualizations
Measuring Monetary Policy: the NGDP Gap
The nominal gross domestic product (NGDP) gap is a benchmark measure created by the Mercatus Center at George Mason University
- | Monetary Policy Monetary Policy
- | Expert Commentary Expert Commentary
‘Team Permanent’ (Mostly) Won the Inflation Debate | National Review
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John Roberts on Macroeconomic Modeling at the Fed, Makeup Policy, and the Future of FAIT
John Roberts is a 36-year veteran of the Federal Reserve Board and mostly recently was the Deputy Associate Director in the

- | Monetary Policy Monetary Policy
- | Research Papers Research Papers
Is the Quantity Theory Dead? Lessons from the Pandemic
Abstract: Many policymakers and economists are surprised by the recent high and persistent inflation. This naturally raises
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Paul Tucker on *Global Discord: Values and Power in a Fractured World Order*
Paul Tucker is a 33-year veteran of the Bank of England, where among other positions, he served as both a member and deputy

- | Monetary Policy Monetary Policy
- | Research Papers Research Papers
What Kind of Landing: Soft or Hard?
In the past, the Federal Open Market Committee (FOMC) has reduced inflation through contractionary monetary policy—but only at
- | Monetary Policy Monetary Policy
- | Policy Briefs Policy Briefs
The Federal Reserve’s Balance Sheet: Costs to Taxpayers of Quantitative Easing
It might seem extraordinary that a US government institution could conduct any program that is likely to incur a cost of nearly
- | Monetary Policy Monetary Policy
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- | Macro Musings Macro Musings
Victoria Guida on Developments at the Federal Reserve and in Financial Regulation
Victoria Guida is an economics reporter for Politico where she covers monetary policy and financial regulatory policy. Victoria

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- | Macro Musings Macro Musings
Martin Chorzempa on China’s Cashless Revolution and the Rise of Super Apps
Martin Chorzempa is a senior fellow with the Peterson Institute for International Economics and is the author of a new book

- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Heather Long, Ryan Avent, and Cardiff Garcia on Pandemic Reflections and Economic Predictions for the Future
For this special end of the year edition of Macro Musings, Heather Long, Ryan Avent, and Cardiff Garcia rejoin the podcast to

- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
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Tomas Hirst on the State of ECB Policy and the Eurozone Economy
Tomas Hirst is a macro analyst in the Strategy and Allocation division at LMI and formerly worked at Credit Sights, an

- | Monetary Policy Monetary Policy
- | TV Appearance TV Appearance
After November CPI Report, Ex-Treasury Economist Warns of Major ‘Shock’ to US Economy | Fox Business
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- | Macro Musings Macro Musings
Joe Gagnon on *25 Years of Excess Unemployment* and the Phillips Curve Debate
Joe Gagnon is a senior fellow at the Peterson Institute for International Economics and was formerly a senior staffer at the

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- | Expert Commentary Expert Commentary
The Money Supply Is Shrinking: The Fed Should Pay More Attention | National Review
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- | Macro Musings Macro Musings
BONUS: Noah Smith on the State of Macroeconomics
Noah Smith is a former columnist for Bloomberg and is now a popular writer at his own Noahpinion Substack. In this bonus segment

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Noah Smith on the Future of the Chinese Economy and the Climate of Social Change in the US
Noah Smith is a former columnist for Bloomberg and is now a popular writer at his own Noahpinion Substack. Noah is also a

- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Hugh Rockoff on Optimal Currency Areas, “Yellowbacks,” and Free Banking
Hugh Rockoff is a professor of economics at Rutgers University and has done extensive work in U.S. monetary history. He joins

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Patrick Horan and David Beckworth on *The Fate of FAIT* and the Future of the Fed’s Monetary Framework
In this special episode of Macro Musings, David Beckworth and Patrick Horan join guest host Carola Binder to discuss their

- | Monetary Policy Monetary Policy
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Ethan Ilzetzki on the International Implications of Fed Policy, Business Cycle Theory, and the UK Crisis
Ethan Ilzetzki is an associate professor of economics at the London School of Economics and a research fellow with the Center
