This week, Donald Trump formally nominated Judy Shelton and Christopher Waller for vacant governorships on the Federal Reserve. Waller, the Vice President of the Richmond Fed, is widely viewed as a standard Fed nominee with the reputation of being a “dove” who has criticized recent interest rate hikes. It is Judy Shelton who is particularly
Three Links While we’re assured by the financial press that the Fed is full of Very Serious People, it’s alarming how clueless some members of the Fed seem to be about the current operations of the central bank. The latest example is Neel Kashkari’s take that the injections into the repo market have no impact on equity pricing.
Despite smears and scare tactics from the Virginia law enforcement and the corporate press, thousands of protestors have landed in the capital of Old Dominion in response to an anti-gun agenda being pushed by the new solid-blue state government. While large protests aren’t particularly unique in American politics, this particular event has
Last night’s State of the Union was particularly noteworthy for its showmanship. Scholarships were given away, medals were awarded, families reunited. At a time when national politics is bad theater, President Trump is clearly its most gifted star. Trump also knows what sells. As a political figure, he’s motivated not by any consistent ideology,
Today the Senate Banking Committee held a hearing for President Trump’s two most recent Federal Reserve nominees. In one chair sat Christopher Waller, vice president and director of research at the Federal Reserve Bank of St. Louis, whose dreadfully dull answers could have been the product of a bot forced to watch one thousand hours of central
Two weeks ago , Fed chair Jay Powell declared the “fundamentals of the U.S. economy strong,” while simultaneously announcing the largest interest rate cut since 2008 in the face of global pressures stemming from the coronavirus. Last week, the Fed escalated its repo operations in a desperate attempt to boost short-term liquidity for large
The world continues to process last week’s missile strike killing of Iranian general Qassem Soleimani as President Donald Trump continues to rattle his favorite saber, Twitter, against threats of Iranian retaliation. Already the international response to Trump’s military escalation, a decision categorized as “the most extreme response” by American
With many of our readers having more time on their hands while practicing social distancing, the Mises Institute is exploring our online archives and offering topic-specific collections of curated content. This series, we are calling it the “Quarantine Chronicles: A Shelter-at-Home-Series,” will highlight essays, articles, and clips that may not
With many of our readers having more time on their hands while practicing social distancing, the Mises Institute is exploring our online archives and offering topic-specific collections of curated content. This series, we are calling it the “Quarantine Chronicles: A Shelter-at-Home-Series,” will highlight essays, articles, and clips that may not
[This is the preface for the Mises Institute’s new online book Anatomy of the Crash: The Financial Crisis of 2020 . ] “End the Fed!” Three small words became one of the most improbable and powerful political chants in modern politics thanks to the presidential campaigns of Dr. Ron Paul. With the backdrop of a global financial crisis, the
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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.