Bob Explains the Highlights of His New QJAE Article on Fractional Reserve Banking
Bob shows why Ludwig von Mises thought any issuance of fiduciary media caused the boom-bust cycle.
Bob shows why Ludwig von Mises thought any issuance of fiduciary media caused the boom-bust cycle.
In June, year-over-year growth in the money supply was at 1.98 percent. That was down slightly from May's rate of 2.10 percent, and was well down from June 2018's rate of 4.30 percent.
A private graduate seminar presented at Mises University 2019.
Money supply growth inched up in May, rising slightly above March's and April's growth levels. But overall growth levels remain quite low compared to growth rates experienced from 2009 to 2016. March's growth rate, for examples, was at a 12-year (145-month) low.
The Fed’s monetary policy, except for very brief periods in 1929 and 1936–1937, was consistently and unremittingly inflationist in the 1920s and 1930s.
In April, year-over-year growth in the money supply was at 1.99 percent. That was up slightly from March's growth rate of 1.92 percent, but was well down from April 2018's rate of 4.32 percent.
In February, year-over-year growth in the money supply was at 3.1 percent. That was down from January's growth rate of 3.3 percent, but was up from February 2018's rate of 3.0 percent.