The average price of eggs increased by 49%, butter/margarine by 34% year-over-year, CNBC reported as of November. Yet, with his first speech of the year, Federal Reserve Chair Jerome Powell addressed the issue of the Fed’s independence. Yes, the conference was on Central Bank independence. But how many Americans have any concern, or the slightest
With the August Consumer Price Index (CPI) reaching 8.3% earlier this week, the general public wonders when exactly the Fed rate hikes, to fight (price) inflation, will kick into effect. Meanwhile, the Wall Street Journal offers a unique visualization of (price) inflation over the last year, see below: Their website includes an interactive map.
Over the weekend, Scott Pelley of 60 Minutes held an interview with President Joe Biden. See below for some of the highlights, starting with his thoughts on the annual inflation rate which came in at 8.3% for the month of August. (Portions of the transcript and interview may have been edited by CBS . There exists these incomplete sentences in the
In the final Federal Open Market Committee (FOMC) meeting of the year, the Fed did what everyone knew they would. They raised rates. They then proceeded with the usual Fedspeak dance regarding projections for the upcoming year including inflation and rate hikes. The labor market doesn’t normally garner as much attention; but Chair Powell made
This Christmas, try to remember there’s poverty and then there’s “poverty.” In America millions of people have fallen on hard times as their savings continue to erode due to the government intervention and central bank currency inflation of late. This devastation is sobering, while other countries in the world whose socialism is “more advanced”
It could be a coincidence, but probably not, that Joseph Stiglitz commented on corporate profit margins then the following week Federal Reserve Vice Chair Lael Brainard wrote about Bringing Inflation Down , where she too mentioned the problem with high profit margins. In her own words, she found that: Reductions in markups could also make an
This week’s Federal Open Market Committee (FOMC) could be the one where the Federal Reserve finally raises rates and reduces asset purchases. It’s still anyone’s guess until the announcement is made this Wednesday. But in anticipation of the event, CNBC shares a news release that says Bill Ackman met with the New York Fed and told them to begin
November’s Federal Open Market Committee (FOMC) meeting finally brought the long sought-after tapering . This month, instead of unleashing $120 billion into the market to lower the purchasing power of the dollar, the Fed will aim for closer to only $105 billion per month; hence the taper. As per usual, the Q & A highlights offer great insight into
Who should take the blame (or credit) for Cuba’s 6,900% inflation rate? Before the answer is given, consider the history of fiat currencies, from Roman times to Kublai Khan, pre-war Germany, to recent popular hyperinflations such as Venezuela and Zimbabwe. The common denominator is always the same. In the case of hyperinflation, it is always the
Who could have predicted this? As CNBC reports: The consumer price index rose 6.2% year over year and on a monthly basis, CPI increased 0.9%, both significantly above estimates. Stunning. The goal of overshooting the arbitrary 2% inflation target has finally been met in a major way. Let’s see what two economic experts have to say. According to
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.