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
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The Fed Has No Going Back | Macroeconomic Policy Nexus
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The Digital Currency Road Less Traveled | Macroeconomic Policy Nexus
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Barry Eichengreen, Paul Blustein, and Brendan Greeley on Dollar Dominance
Will a grandfather’s love change if his grandkids grow up to love crypto?
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- | Monetary Policy Monetary Policy
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Making the Federal Reserve More Transparent and Accountable: Why the FOMC Should Explicitly State Its Monetary Policy Rule
The Federal Reserve should explain the rule — not just the decisions — that guides monetary policy -
- | Monetary Policy Monetary Policy
- | Mercatus Podcasts Mercatus Podcasts
- | Macro Musings Macro Musings
David Wessel on the Fed’s Current Inflection Point
Is the FOMC really just like high school?
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- | Monetary Policy Monetary Policy
- | Policy Briefs Policy Briefs
Making Monetary Policy Transparent
The Federal Reserve should adopt a clear rule to ensure transparency and accountability -
- | Monetary Policy Monetary Policy
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- | Macro Musings Macro Musings
Sam Lyman on the Digital Payments Race Between the US and China
What does it mean when President Trump says he wants the US to become a crypto superpower?
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Stephan Luck on What History can Teach Us about Financial Stability
What can 372 million newspaper articles and George Bailey from It’s a Wonderful Life teach us about preventing banking crises?
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Lean, Mean, and Norwegian | Macroeconomic Policy Nexus
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Barry Eichengreen on the History of Global Currencies
Are all reserve currencies eventually doomed to fall?
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Yesha Yadav, Chris Odinet, and Andrea Tosato on the Moneyness of Stablecoins
Did GENIUS close the legal loopholes with stablecoins?
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Jeffrey Lacker on What a New Fed Treasury Accord Might Look Like
It’s Kevin Warsh’s Fed now, is a shakeup in store?
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Nik Bhatia on Bitcoin and the Case for Using Stablecoins for Statecraft
Can you thread the Crypto TradFi and DeFi needle?
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The Federal Reserve System’s Unique Structure Is a Strength
A decentralized Federal Reserve better reflects America’s diverse economy -
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Missing the Forest for the Trees | Macroeconomic Policy Nexus
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Bryan Cutsinger, Peter Ireland, and Will Luther on Lessons Learned from the Fed Framework Review
NGDP Targeting… it’s back!
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Kevin Warsh and the Future of the Fed | Macroeconomic Policy Nexus
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Brendan Greeley on the 500 Year History of the Dollar
On the eve of America’s 250th, discover the untold history of the world’s most powerful currency
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The Battle Over Fed Master Accounts | Macroeconomic Policy Nexus
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David Zaring on Skinny Charters and the Future of Banking
Should fintech firms get direct access to the Fed’s payment rails?
Latest work in Monetary Policy
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The Fed Has No Going Back | Macroeconomic Policy Nexus
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The Digital Currency Road Less Traveled | Macroeconomic Policy Nexus
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Barry Eichengreen, Paul Blustein, and Brendan Greeley on Dollar Dominance
Will a grandfather’s love change if his grandkids grow up to love crypto?
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- | Policy Briefs Policy Briefs
Making the Federal Reserve More Transparent and Accountable: Why the FOMC Should Explicitly State Its Monetary Policy Rule
The Federal Reserve should explain the rule — not just the decisions — that guides monetary policy -
- | Monetary Policy Monetary Policy
- | Mercatus Podcasts Mercatus Podcasts
- | Macro Musings Macro Musings
David Wessel on the Fed’s Current Inflection Point
Is the FOMC really just like high school?
-
- | Monetary Policy Monetary Policy
- | Policy Briefs Policy Briefs
Making Monetary Policy Transparent
The Federal Reserve should adopt a clear rule to ensure transparency and accountability -
- | Monetary Policy Monetary Policy
- | Mercatus Podcasts Mercatus Podcasts
- | Macro Musings Macro Musings
Sam Lyman on the Digital Payments Race Between the US and China
What does it mean when President Trump says he wants the US to become a crypto superpower?
-
- | Monetary Policy Monetary Policy
- | Podcast Appearance Podcast Appearance
- | Macro Musings Macro Musings
Stephan Luck on What History can Teach Us about Financial Stability
What can 372 million newspaper articles and George Bailey from It’s a Wonderful Life teach us about preventing banking crises?
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- | Monetary Policy Monetary Policy
- | Expert Commentary Expert Commentary
Lean, Mean, and Norwegian | Macroeconomic Policy Nexus
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- | Monetary Policy Monetary Policy
- | Mercatus Podcasts Mercatus Podcasts
- | Macro Musings Macro Musings
Barry Eichengreen on the History of Global Currencies
Are all reserve currencies eventually doomed to fall?
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- | Monetary Policy Monetary Policy
- | Mercatus Podcasts Mercatus Podcasts
- | Macro Musings Macro Musings
Yesha Yadav, Chris Odinet, and Andrea Tosato on the Moneyness of Stablecoins
Did GENIUS close the legal loopholes with stablecoins?
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- | Monetary Policy Monetary Policy
- | Mercatus Podcasts Mercatus Podcasts
- | Macro Musings Macro Musings
Jeffrey Lacker on What a New Fed Treasury Accord Might Look Like
It’s Kevin Warsh’s Fed now, is a shakeup in store?
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- | Monetary Policy Monetary Policy
- | Mercatus Podcasts Mercatus Podcasts
- | Macro Musings Macro Musings
Nik Bhatia on Bitcoin and the Case for Using Stablecoins for Statecraft
Can you thread the Crypto TradFi and DeFi needle?
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- | Monetary Policy Monetary Policy
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The Federal Reserve System’s Unique Structure Is a Strength
A decentralized Federal Reserve better reflects America’s diverse economy -
- | Monetary Policy Monetary Policy
- | Expert Commentary Expert Commentary
Missing the Forest for the Trees | Macroeconomic Policy Nexus
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- | Monetary Policy Monetary Policy
- | Mercatus Podcasts Mercatus Podcasts
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Bryan Cutsinger, Peter Ireland, and Will Luther on Lessons Learned from the Fed Framework Review
NGDP Targeting… it’s back!
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- | Monetary Policy Monetary Policy
- | Expert Commentary Expert Commentary
Kevin Warsh and the Future of the Fed | Macroeconomic Policy Nexus
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- | Mercatus Podcasts Mercatus Podcasts
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Brendan Greeley on the 500 Year History of the Dollar
On the eve of America’s 250th, discover the untold history of the world’s most powerful currency
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- | Monetary Policy Monetary Policy
- | Expert Commentary Expert Commentary
The Battle Over Fed Master Accounts | Macroeconomic Policy Nexus
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- | Monetary Policy Monetary Policy
- | Mercatus Podcasts Mercatus Podcasts
- | Macro Musings Macro Musings
David Zaring on Skinny Charters and the Future of Banking
Should fintech firms get direct access to the Fed’s payment rails?
Latest work in Monetary Policy
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How Much Did Macroeconomic Policy Matter? A New Decomposition of the US Inflation Surge of 2021–22
Inflation surged as demand ran hot—NGDP trends offer a tool for prevention -
- | Monetary Policy Monetary Policy
- | Working Papers Working Papers
The Reliability of the Nominal GDP Expectations Gap
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- | Monetary Policy Monetary Policy
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Survey Measures of the Natural Rate of Interest
Offering policymakers new tools to determine the current stance of monetary policy -
- | Monetary Policy Monetary Policy
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Making Milton Friedman’s Monetarism Relevant Again
How the Fed’s shift to monetarism proved inflation is a monetary phenomenon—and why Friedman’s insights still matter for policy today -
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- | Working Papers Working Papers
A New Measure of the Stance of Eurozone Monetary Policy
The NGDP gap can help policymakers assess whether current policy is on track -
- | Monetary Policy Monetary Policy
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Last Resort Lending: Classical Thought vs. Modern Federal Reserve Practice
Central banks used to play a far smaller role in credit markets than the Federal Reserve does today. -
- | Monetary Policy Monetary Policy
- | Research Papers Research Papers
What the Fed Needs to Do to Control Inflation and Stabilize the Economy
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- | Monetary Policy Monetary Policy
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Getting Monetary Policy Right: What Should the Federal Reserve Have Learned from Its Pandemic Response?
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- | Working Papers Working Papers
What Is the Monetary Standard? The Fed Should Tell Us
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- | Monetary Policy Monetary Policy
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Fifteen Years of Aggressive Discretionary Fiscal Policy
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- | Monetary Policy Monetary Policy
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Nominal Income Expectations of Consumers
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Alternative Approaches to Monetary Policy
Published at "TheMoneyIllusion" -
- | Monetary Policy Monetary Policy
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Is the Quantity Theory Dead? Lessons from the Pandemic
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What Kind of Landing: Soft or Hard?
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- | Monetary Policy Monetary Policy
- | Working Papers Working Papers
The Fate of FAIT: Salvaging the Fed’s Framework
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How the Federal Open Market Committee Can Start Learning from Experience
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- | Monetary Policy Monetary Policy
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Learning from the Pandemic Monetary Policy Experiment
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- | Working Papers Working Papers
The Princeton School and the Zero Lower Bound
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- | Working Papers Working Papers
The Expectations Gap: An Alternative Measure of Economic Slack
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Latest work in Monetary Policy
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- | Essays Essays
Market Monetarism: Roadmap to economic prosperity
Marcus Nunes and Benjamin Cole
Latest work in Monetary Policy
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Reforming the Federal Reserve: Will Kevin Warsh Make the Fed Transparent and Accountable?
How proposed reforms could reshape FOMC deliberation, policy rules, and oversight -
- | Monetary Policy Monetary Policy
- | Policy Briefs Policy Briefs
Defending Fed Independence Through Transparency, Accountability, and Rule-Based Monetary Policy
An independent Fed can anchor inflation expectations and resist political pressure -
- | Monetary Policy Monetary Policy
- | Policy Briefs Policy Briefs
The Case for a Smaller Federal Reserve Asset Portfolio
A smaller Fed balance sheet would reduce inflation risk and fiscal dominance as debt climbs -
- | Monetary Policy Monetary Policy
- | Policy Briefs Policy Briefs
The Mysterium Body Called the Fed: How Discretion Obscures Accountability
Why the Federal Reserve needs a rule-based framework -
- | Monetary Policy Monetary Policy
- | Policy Briefs Policy Briefs
The Federal Reserve Should Welcome the Appointment of an Independent Inspector General
The $3 billion upgrade of the Fed’s HQ is like building a “Versailles Palace on the National Mall.” The Fed urgently needs a fully independent watchdog. -
- | Federal Reserve Framework Review Federal Reserve Framework Review
- | Monetary Policy Monetary Policy
- | Policy Briefs Policy Briefs
A Critique of Lars Svensson’s Arguments Against NGDP Targeting
Lars Svensson’s conclusion that nominal GDP targeting (NGDPT) is inferior to average inflation targeting rested upon several subtle fallacies, so the Fed should use its current framework review to reconsider NGDPT -
- | Federal Reserve Framework Review Federal Reserve Framework Review
- | Monetary Policy Monetary Policy
- | Policy Briefs Policy Briefs
An Effective Monetary Policy with Nominal GDP Level Targeting
The Federal Reserve should consider adopting a policy of nominal GDP level targeting, which is the best way to stabilize the labor market and the financial system while maintaining an average inflation rate of close to 2 percent -
- | Federal Reserve Framework Review Federal Reserve Framework Review
- | Monetary Policy Monetary Policy
- | Policy Briefs Policy Briefs
A Rule-Based Monetary Policy
Monetary policy remains a contentious topic, but historical evidence, particularly from the Volcker–Greenspan era, suggests that the rule-based approach would offer greater predictability, stability, transparency, and consistency in Fed policy -
- | Federal Reserve Framework Review Federal Reserve Framework Review
- | Monetary Policy Monetary Policy
- | Policy Briefs Policy Briefs
Targeting Nominal GDP Through Monetary Control
Instead of using flexible average inflation targeting (FAIT) to control inflation, the Federal Reserve should shift its strategy to target the nation’s economic growth rate, measured as nominal (not adjusted for inflation) GDP -
- | Federal Reserve Framework Review Federal Reserve Framework Review
- | Monetary Policy Monetary Policy
- | Policy Briefs Policy Briefs
Financial Stability and Nominal GDP Targeting
NGDP targeting is simpler, more intuitive, and more robust than the current monetary policy strategy -
- | Federal Reserve Framework Review Federal Reserve Framework Review
- | Monetary Policy Monetary Policy
- | Policy Briefs Policy Briefs
Post-pandemic Inflation and Improving FAIT with Nominal GDP Level Targeting
Flexible average inflation targeting can be improved by dropping its asymmetry so that it is implemented as a form of nominal GDP level targeting -
- | Monetary Policy Monetary Policy
- | Policy Briefs Policy Briefs
The Fed’s 2024–25 Framework Review: Optimizing the Dual Mandate Through Nominal GDP Level Targeting
As the Federal Reserve considers how to implement its dual mandate of price stability and maximum employment, it should adopt—or approach—nominal GDP level targeting as a benchmark framework. -
- | Monetary Policy Monetary Policy
- | Policy Briefs Policy Briefs
Strengthening the Federal Reserve’s Accountability to the US Congress
Congress has a constitutional duty to oversee the Federal Reserve, but the complexity of its monetary policy has outpaced existing oversight tools. This brief looks at approaches for restoring the balance between the Fed’s independence and accountability. -
- | Monetary Policy Monetary Policy
- | Policy Briefs Policy Briefs
The Economic Situation, September 2024
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- | Monetary Policy Monetary Policy
- | Policy Briefs Policy Briefs
Enhancing FOMC Transparency: Making Implicit Monetary Policy Rules Explicit
The FOMC communicates the consistency in its monetary policy to markets but not the public. In order to be more accountable and transparent, the FOMC should communicate that consistency to the public and Congress as well. -
- | Monetary Policy Monetary Policy
- | Policy Briefs Policy Briefs
The Neutral Level of NGDP and the NGDP Gap: Q1 2024
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- | Monetary Policy Monetary Policy
- | Policy Briefs Policy Briefs
The Neutral Level of NGDP and the NGDP Gap: Q4 2023
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- | Monetary Policy Monetary Policy
- | Policy Briefs Policy Briefs
Governance and Diversity at the Federal Reserve
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- | Monetary Policy Monetary Policy
- | Policy Briefs Policy Briefs
The Neutral Level of NGDP and the NGDP Gap: Q3 2023
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- | Monetary Policy Monetary Policy
- | Policy Briefs Policy Briefs
The Neutral Level of NGDP and the NGDP Gap: Q2 2023
Latest work in Monetary Policy
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- | Monetary Policy Monetary Policy
- | Policy Spotlights Policy Spotlights
Closing the Fed’s Oversight Gap
For more than a century the Federal Reserve has had only minimal oversight. Here are options for strengthening the Fed's accountability. -
- | Monetary Policy Monetary Policy
- | Policy Spotlights Policy Spotlights
A Rule-Based Monetary Policy
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- | Monetary Policy Monetary Policy
- | Policy Spotlights Policy Spotlights
Average Inflation Targeting and the Benefits of Offsetting Periods of High or Low Inflation
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- | Monetary Policy Monetary Policy
- | Policy Spotlights Policy Spotlights
The Relationship between Interest Rates and Monetary Policy
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- | Monetary Policy Monetary Policy
- | Policy Spotlights Policy Spotlights
How the Fed Controls Monetary Policy
Latest work in Monetary Policy
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Barry Eichengreen, Paul Blustein, and Brendan Greeley on Dollar Dominance
Will a grandfather’s love change if his grandkids grow up to love crypto?
-
- | Monetary Policy Monetary Policy
- | Mercatus Podcasts Mercatus Podcasts
- | Macro Musings Macro Musings
David Wessel on the Fed’s Current Inflection Point
Is the FOMC really just like high school?
-
- | Monetary Policy Monetary Policy
- | Mercatus Podcasts Mercatus Podcasts
- | Macro Musings Macro Musings
Sam Lyman on the Digital Payments Race Between the US and China
What does it mean when President Trump says he wants the US to become a crypto superpower?
-
- | Monetary Policy Monetary Policy
- | Podcast Appearance Podcast Appearance
- | Macro Musings Macro Musings
Stephan Luck on What History can Teach Us about Financial Stability
What can 372 million newspaper articles and George Bailey from It’s a Wonderful Life teach us about preventing banking crises?
-
- | Monetary Policy Monetary Policy
- | Mercatus Podcasts Mercatus Podcasts
- | Macro Musings Macro Musings
Barry Eichengreen on the History of Global Currencies
Are all reserve currencies eventually doomed to fall?
-
- | Monetary Policy Monetary Policy
- | Mercatus Podcasts Mercatus Podcasts
- | Macro Musings Macro Musings
Yesha Yadav, Chris Odinet, and Andrea Tosato on the Moneyness of Stablecoins
Did GENIUS close the legal loopholes with stablecoins?
-
- | Monetary Policy Monetary Policy
- | Mercatus Podcasts Mercatus Podcasts
- | Macro Musings Macro Musings
Jeffrey Lacker on What a New Fed Treasury Accord Might Look Like
It’s Kevin Warsh’s Fed now, is a shakeup in store?
-
- | Monetary Policy Monetary Policy
- | Mercatus Podcasts Mercatus Podcasts
- | Macro Musings Macro Musings
Nik Bhatia on Bitcoin and the Case for Using Stablecoins for Statecraft
Can you thread the Crypto TradFi and DeFi needle?
-
- | Monetary Policy Monetary Policy
- | Mercatus Podcasts Mercatus Podcasts
- | Macro Musings Macro Musings
Bryan Cutsinger, Peter Ireland, and Will Luther on Lessons Learned from the Fed Framework Review
NGDP Targeting… it’s back!
-
- | Monetary Policy Monetary Policy
- | Mercatus Podcasts Mercatus Podcasts
- | Macro Musings Macro Musings
Brendan Greeley on the 500 Year History of the Dollar
On the eve of America’s 250th, discover the untold history of the world’s most powerful currency
-
- | Monetary Policy Monetary Policy
- | Mercatus Podcasts Mercatus Podcasts
- | Macro Musings Macro Musings
David Zaring on Skinny Charters and the Future of Banking
Should fintech firms get direct access to the Fed’s payment rails?
-
- | Monetary Policy Monetary Policy
- | Mercatus Podcasts Mercatus Podcasts
- | Macro Musings Macro Musings
Bill Beach on the Future of United States’ Economic Statistics and Fiscal Position
How long do we have until our fiscal clock strikes midnight?
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- | Monetary Policy Monetary Policy
- | Podcast Appearance Podcast Appearance
Central Banks in the Dark: Inflation, AI, and the Limits of Control ft. David Beckworth | Top Traders Unplugged
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- | Mercatus Podcasts Mercatus Podcasts
- | Macro Musings Macro Musings
Tyler Goodspeed on Challenging the Way Economists Look at Recessions
Have we been trying to ascribe patterns to recessions when they aren’t really there?
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- | Monetary Policy Monetary Policy
- | Mercatus Podcasts Mercatus Podcasts
- | Macro Musings Macro Musings
Peter Conti-Brown and David Beckworth on All Things Financial Regulation
A live Wharton conversation on bank supervision, stablecoins, and the evolving role of central banks
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- | Monetary Policy Monetary Policy
- | Mercatus Podcasts Mercatus Podcasts
- | Macro Musings Macro Musings
Basil Halperin on Macroeconomic Policy in an Age of Transformative AI
Why might inflation targeting may fall short in a world of rapid productivity gains?
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- | Mercatus Podcasts Mercatus Podcasts
- | Macro Musings Macro Musings
Rich Clarida on Navigating Monetary Policy in Choppy Waters
Is the growing list of recent negative supply shocks a one off or the new status quo?
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- | Mercatus Podcasts Mercatus Podcasts
- | Macro Musings Macro Musings
Kris Mitchener on What Actually Anchors the Price Level
What do Sir Isaac Newton's miscalculation and today's central bank balance sheets have in common? More than you'd expect.
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- | Monetary Policy Monetary Policy
- | Podcast Appearance Podcast Appearance
Reducing the Fed’s Balance Sheet With Fed Board Governor Stephen Miran | Hoover Institution
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- | Monetary Policy Monetary Policy
- | Mercatus Podcasts Mercatus Podcasts
- | Macro Musings Macro Musings
Steve Kamin and Mark Sobel on the Outlook of Dollar Dominance
Are termites eating at the dollar dominance foundation?
Latest work in Monetary Policy
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- | Federal Testimonies Federal Testimonies
The Federal Reserve System’s Unique Structure Is a Strength
A decentralized Federal Reserve better reflects America’s diverse economy -
- | Monetary Policy Monetary Policy
- | Public Interest Comments Public Interest Comments
Comments on Docket No. OP-1877, Request for Information and Comment on Reserve Bank Payment Account Prototype
How the Fed can implement the RBPA in an efficient manner that supports liquidity under stress -
- | Monetary Policy Monetary Policy
- | State Testimonies State Testimonies
The Evolution of the Role of the Federal Reserve
Pennsylvania House Majority Policy Committee -
- | Monetary Policy Monetary Policy
- | Federal Testimonies Federal Testimonies
Safeguarding the Federal Reserve's Independence
Testimony before the Subcommittee on National Security, International Development, and Monetary Policy of the House Committee on Financial Services -
- | Monetary Policy Monetary Policy
- | Public Interest Comments Public Interest Comments
FedNow Portends a More Competitive and Resilient Payments System
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- | Monetary Policy Monetary Policy
- | Public Interest Comments Public Interest Comments
Response to the Federal Housing Finance Agency Request for Comment on How Its Regulations May Be Made More Effective and Less Burdensome
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- | Technology and Innovation Technology and Innovation
- | Public Interest Comments Public Interest Comments
Comments to the New York Department of Financial Services on the Proposed Virtual Currency Regulatory Framework
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- | Financial Markets Financial Markets
- | Federal Testimonies Federal Testimonies
Legislation to Reform the Federal Reserve on Its 100-year Anniversary
Testimony Before the House Committee on Financial Services Committee -
- | Financial Markets Financial Markets
- | Federal Testimonies Federal Testimonies
Ending the Federal Reserve System’s Overreach into Credit Allocation
Testimony Before the Subcommittee on Monetary Policy and Trade House Committee on Financial Services -
- | Technology and Innovation Technology and Innovation
- | Federal Testimonies Federal Testimonies
Beyond Silk Road: Potential Risks, Threats, and Promises of Virtual Currencies
Testimony Before the Senate Committee on Homeland Security and Governmental Affairs -
- | Monetary Policy Monetary Policy
- | Federal Testimonies Federal Testimonies
The Federal Reserve and the Rule of Law
Testimony Before the House Committee on Financial Services -
- | Monetary Policy Monetary Policy
- | Federal Testimonies Federal Testimonies
Fractional Reserve Banking
Testimony Before the House Subcommittee on Domestic Monetary Policy and Technology -
- | Monetary Policy Monetary Policy
- | Public Interest Comments Public Interest Comments
Mutual Fund After-Tax Returns
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- | Monetary Policy Monetary Policy
- | Public Interest Comments Public Interest Comments
Minimum Security Devices and Procedures and Bank Secrecy Act
Latest work in Monetary Policy
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- | Monetary Policy Monetary Policy
- | Expert Commentary Expert Commentary
The Fed Has No Going Back | Macroeconomic Policy Nexus
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- | Monetary Policy Monetary Policy
- | Expert Commentary Expert Commentary
The Digital Currency Road Less Traveled | Macroeconomic Policy Nexus
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- | Monetary Policy Monetary Policy
- | Expert Commentary Expert Commentary
Lean, Mean, and Norwegian | Macroeconomic Policy Nexus
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- | Monetary Policy Monetary Policy
- | Expert Commentary Expert Commentary
Missing the Forest for the Trees | Macroeconomic Policy Nexus
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- | Monetary Policy Monetary Policy
- | Expert Commentary Expert Commentary
Kevin Warsh and the Future of the Fed | Macroeconomic Policy Nexus
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- | Monetary Policy Monetary Policy
- | Expert Commentary Expert Commentary
The Battle Over Fed Master Accounts | Macroeconomic Policy Nexus
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- | Monetary Policy Monetary Policy
- | Expert Commentary Expert Commentary
The Nominal Anchor Still Holds | Macroeconomic Policy Nexus
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- | Monetary Policy Monetary Policy
- | Expert Commentary Expert Commentary
Currency Swap Lines, Financial Statecraft, and Dollar Dominance | Macroeconomic Policy Nexus
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- | Monetary Policy Monetary Policy
- | Expert Commentary Expert Commentary
From Conversations to Community: Macro Musings in Action | Macroeconomic Policy Nexus
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- | Monetary Policy Monetary Policy
- | Expert Commentary Expert Commentary
The Fed’s Overton Window Is Shifting | Macroeconomic Policy Nexus
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- | Monetary Policy Monetary Policy
- | Expert Commentary Expert Commentary
The Fed Already Has What It Needs to Navigate Supply Shocks | Macroeconomic Policy Nexus
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- | Monetary Policy Monetary Policy
- | Expert Commentary Expert Commentary
Three Kinds of Fed-Treasury Accords | Macroeconomic Policy Nexus (Substack)
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- | Monetary Policy Monetary Policy
- | Expert Commentary Expert Commentary
Breaking the QE Ratchet | Macroeconomic Policy Nexus
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- | Monetary Policy Monetary Policy
- | Expert Commentary Expert Commentary
Warsh Eyes Slashing the Fed’s Balance Sheet. How He Could Do It. | Barron’s
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- | Monetary Policy Monetary Policy
- | Expert Commentary Expert Commentary
Stablecoins Behave Like Money, But Are They Built Like It? | Macroeconomic Policy Nexus
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- | Monetary Policy Monetary Policy
- | Feature Feature
Sound Money and Growth or Inflation and Social Unrest in the Historical Context | Echelon
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- | Expert Commentary Expert Commentary
Three Views of QE: Irrelevance, Insurance, and Irreversibility | Macroeconomic Policy Nexus
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- | Expert Commentary Expert Commentary
Who Sits at the Fed's Table? Part II | Macroeconomic Policy Nexus
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- | Monetary Policy Monetary Policy
- | Expert Commentary Expert Commentary
Who Sits at the Fed’s Table? Part I | Macroeconomic Policy Nexus
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- | Monetary Policy Monetary Policy
- | Expert Commentary Expert Commentary
Is 3% Inflation the New 2%? | Macroeconomic Policy Nexus (Substack)