During the campaign, candidate Trump constantly railed against Janet Yellen and her Federal Reserve. The Fed was keeping interest rates low because they were “more political than Hillary Clinton,” Trump repeated while stumping for votes.
Unfortunately President Trump has a different opinion. Yellen is no longer “toast,” and he wants to keep interest rates low. A monetary policy that puts Wall Street, not America, first.
This week Mises Weekends features someone who has witnessed the underbelly of the Fed from the inside. Danielle DiMartino Booth is a former Dallas Fed staffer and author of the new book Fed Up: An Insider’s Take on Why the Federal Reserve is Bad for America. She joins Jeff to talk about her years watching Ivy League PhDs make gross and fundamental errors in an almost comically cloistered environment. Have Fed economists even read Mises and Hayek? Do they recognize malinvestment as a byproduct of interest-rate setting? Do they know anything about their own institutional history, or at least enough to recognize how mission creep has turned the Fed into a central planning Politburo? And how will Janet Yellen deal with the inherent tension between raising interest rates and keeping the cost of US debt service in check?
And in case you missed them, here are this weeks Mises Wire articles, covering a wide array of topics including trade, war spending, and the Fed.
- Rent Control Makes for Good Politics and Bad Economics by Gary Galles
- Capital Flows and Ricardo’s Law by Mark Brandly
- Inflation-Hawk Lacker Was the Fed’s Fall Guy by Tho Bishop
- United Airlines Violence Illustrates the Problem with Government Monopolies by Ryan McMaken
- Full Audio: War and Peace in the Age of Trump
- Trump Abandons Economic Reforms to Embrace War Spending by Ryan McMaken
- The End of Ultra-Easy Money? by C.Jay Engel
- End Airline Protectionism: Allow Foreign Carriers on Domestic Routes by Ryan McMaken
- Iron Fist‘s Tort Law Lesson by Chris Calton
- The World According to Trump: The Anti-Globalist Agenda by Marcia Christoff-Kurapovna
- RIP Will Grigg by Jeff Deist
- How Trump Will Make the Trade Deficit Worse by Mark Thornton
- Are Americans Undertaxed by Murray N. Rothbard
- Trump Betrays His Base On the Fed by Tho Bishop
- Dimon and Kashkari Clash on the Health of Banks by C.Jay Engel
