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
- | TV Appearance TV Appearance
Three Rate Cuts This Year Would Be a Surprise | CNBC
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Bill Nelson on the Using the Discount Window for Liquidity Requirements and Its Implications for the Fed’s Balance Sheet
Removing the stigmatization associated with use of the discount window is one way for the Fed to improve its role as lender of last resort.
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
Is the Bank Secrecy Act Vulnerable to Constitutional Challenge Over Post January 6th Data Collection? | FinRegRag
- | Monetary Policy Monetary Policy
- | Research Papers Research Papers
Getting Monetary Policy Right: What Should the Federal Reserve Have Learned from Its Pandemic Response?
- | Monetary Policy Monetary Policy
- | Expert Commentary Expert Commentary
Monetary Policy: Narrowing Discretion, Improving Outcomes | FinRegRag
- | Monetary Policy Monetary Policy
- | Podcast Appearance Podcast Appearance
Monetary Policy at a Crossroads | The Concord Coalition’s “Facing the Future”
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Eric Leeper on *A Fiscal Accounting of COVID Inflation*
While many economists cite a range of different factors as the cause of the COVID inflation surge, a large increase in federal pandemic related spending may be the most likely culprit.
- | Monetary Policy Monetary Policy
- | Podcast Appearance Podcast Appearance
Behind the Fed | Double Take
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Jeffrey Lacker on Governance at the Federal Reserve
After falling behind the curve during the recent inflation episode, the Fed must consider reviewing its governance structure moving forward.
- | Monetary Policy Monetary Policy
- | Expert Commentary Expert Commentary
Questions on National Debt and Interest Rates | FinRegRag
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Mark Koyama on *How the World Became Rich: The Historical Origins of Economic Growth*
Geography, institutions, and culture are just a few of the key drivers that help explain economic growth throughout history.
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Gauti Eggertsson on the Post-Pandemic Inflation Surge and its Implications for Monetary Policy
Heading into the next framework review, there are numerous policy changes that the Fed could consider to help avoid inflationary crises in the future.
- | Monetary Policy Monetary Policy
- | Radio Appearance Radio Appearance
Do Both Sides of the Aisle Have It Wrong on Inflation | Lars Larson Show
- | Monetary Policy Monetary Policy
- | Expert Commentary Expert Commentary
Inflation Wasn’t Transitory | City Journal
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Jonathon Hazell on Phillips Curves, Wage Rigidity, and How to Measure R-Star
Despite some popular commentary, the Phillips curve continues to be an important idea in understanding the inflation rate.
- | Monetary Policy Monetary Policy
- | Radio Appearance Radio Appearance
Inflation and Job Numbers | American Radio Journal
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Skanda Amarnath and Preston Mui on the Tribal Transitory Debate and the Future of the Fed’s Framework
Entering 2024, economists and policymakers should consider dropping tribalist attitudes when discussing the future path of inflation.
- | Monetary Policy Monetary Policy
- | Radio Appearance Radio Appearance
What’s the Difference Between the CPI and the PPI? | Marketplace Radio
- | Monetary Policy Monetary Policy
- | Podcast Appearance Podcast Appearance
CPI Inflation and the Broader Economy | American Ag Network
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Claudio Borio on the Future of Central Bank Operating Systems
Despite overestimated concerns surrounding balance sheet size and reserve demand instability, central banks should consider the possibility of returning to a scarce reserve operating system.
Latest work in Monetary Policy
- | Monetary Policy Monetary Policy
- | TV Appearance TV Appearance
Three Rate Cuts This Year Would Be a Surprise | CNBC
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Bill Nelson on the Using the Discount Window for Liquidity Requirements and Its Implications for the Fed’s Balance Sheet
Removing the stigmatization associated with use of the discount window is one way for the Fed to improve its role as lender of last resort.
- | Financial Markets Financial Markets
- | Expert Commentary Expert Commentary
Is the Bank Secrecy Act Vulnerable to Constitutional Challenge Over Post January 6th Data Collection? | FinRegRag
- | Monetary Policy Monetary Policy
- | Research Papers Research Papers
Getting Monetary Policy Right: What Should the Federal Reserve Have Learned from Its Pandemic Response?
- | Monetary Policy Monetary Policy
- | Expert Commentary Expert Commentary
Monetary Policy: Narrowing Discretion, Improving Outcomes | FinRegRag
- | Monetary Policy Monetary Policy
- | Podcast Appearance Podcast Appearance
Monetary Policy at a Crossroads | The Concord Coalition’s “Facing the Future”
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Eric Leeper on *A Fiscal Accounting of COVID Inflation*
While many economists cite a range of different factors as the cause of the COVID inflation surge, a large increase in federal pandemic related spending may be the most likely culprit.
- | Monetary Policy Monetary Policy
- | Podcast Appearance Podcast Appearance
Behind the Fed | Double Take
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Jeffrey Lacker on Governance at the Federal Reserve
After falling behind the curve during the recent inflation episode, the Fed must consider reviewing its governance structure moving forward.
- | Monetary Policy Monetary Policy
- | Expert Commentary Expert Commentary
Questions on National Debt and Interest Rates | FinRegRag
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Mark Koyama on *How the World Became Rich: The Historical Origins of Economic Growth*
Geography, institutions, and culture are just a few of the key drivers that help explain economic growth throughout history.
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Gauti Eggertsson on the Post-Pandemic Inflation Surge and its Implications for Monetary Policy
Heading into the next framework review, there are numerous policy changes that the Fed could consider to help avoid inflationary crises in the future.
- | Monetary Policy Monetary Policy
- | Radio Appearance Radio Appearance
Do Both Sides of the Aisle Have It Wrong on Inflation | Lars Larson Show
- | Monetary Policy Monetary Policy
- | Expert Commentary Expert Commentary
Inflation Wasn’t Transitory | City Journal
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Jonathon Hazell on Phillips Curves, Wage Rigidity, and How to Measure R-Star
Despite some popular commentary, the Phillips curve continues to be an important idea in understanding the inflation rate.
- | Monetary Policy Monetary Policy
- | Radio Appearance Radio Appearance
Inflation and Job Numbers | American Radio Journal
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Skanda Amarnath and Preston Mui on the Tribal Transitory Debate and the Future of the Fed’s Framework
Entering 2024, economists and policymakers should consider dropping tribalist attitudes when discussing the future path of inflation.
- | Monetary Policy Monetary Policy
- | Radio Appearance Radio Appearance
What’s the Difference Between the CPI and the PPI? | Marketplace Radio
- | Monetary Policy Monetary Policy
- | Podcast Appearance Podcast Appearance
CPI Inflation and the Broader Economy | American Ag Network
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Claudio Borio on the Future of Central Bank Operating Systems
Despite overestimated concerns surrounding balance sheet size and reserve demand instability, central banks should consider the possibility of returning to a scarce reserve operating system.