While hope springs eternal that bank run troubles and tightening bank credit will make Jerome Powell and company come to their senses and stop the rate hike madness, there is a not so tiny problem the Fed knows and the average Joe and Jane doesn’t. Former Dallas Fed President Robert Kaplan was interviewed by Praxis Financial Publishing and said
It’s been nearly three months since the Federal Reserve provided a modest multi-billion-dollar bailout to a few struggling banks. Despite the ongoing process of reducing government debt and mortgage securities in its portfolio, the Fed’s balance sheet increased by $400 billion in March, to bring the total up to $8.7 trillion by March 22. In the
The Federal Reserve has dedicated an entire section on its website to provide information about its upcoming Central Bank Digital Currency (CBDC). The first sentence on the page reminds readers: the Federal Reserve has made no decisions on whether to pursue or implement a central bank digital currency, or CBDC, we have been exploring the
Like ships taking on water, banks are throwing assets overboard trying to stay afloat. PacWest sold $3.5 billion in lender finance loans to private lender Ares last week. The Financial Times reports, “Ares paid $2.01bn in cash for the first tranche, less than its principal balance of $2.07bn. PacWest had previously raised $2.36bn by selling
While the jobs report came in less than hot, Reuters still described the labor market as “still-tight” on the first Friday of July. Fed Chair Jerome Powell and the other experts in charge of destroying jobs and job opportunities for common folk will no doubt raise rates this month and next. Higher rates have already taken a toll on real estate
The United States and other countries are debating whether to admit Ukraine into NATO which, of course, would virtually guarantee an all-out nuclear war between the United States and Russia. I’ve got a better idea: Dismantle this old Cold War dinosaur, or at the very least, the United States should withdraw from it, which would undoubtedly lead to
Earlier this week Federal Reserve Vice Chair for Supervision Michael S. Barr delivered a speech called Holistic Capital Review , sharing thoughts on the banking sector’s existing capital requirements imposed by the Fed. He firmly stated: the existing approach to capital requirements is sound. Illustrated through nondescript mentions, despite
Traffic in our major cities is grinding to a halt. This is especially true during morning and evening “rush” hours (scare quotes around this word since no one is rushing around anywhere, apart from bicyclists and roller skaters, who are just about the fastest movers in this system). All too often, however, this period stretches from 7 am to 7 pm,
As a rule, US war reporting since Vietnam has been mostly mainstream media cheerleading the mission rather than digging beyond government war propaganda. After all, it was images of American boys coming home in body bags shown on the six o’clock news across America that finally galvanized mainstream opposition to that war. The Pentagon learned its
It’s no secret that Austrian economics is flourishing around the world and that more students than ever are searching for careers that will allow them to contribute to the Austrian tradition. However, students often ask where they can go to study Austrian economics at the PhD level in preparation for teaching and researching in academia, or for
What is the Mises Institute?
The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.
Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.