The Fed

Austrians have demonstrated that recessions—and depressions—are the inevitable result of central bank intervention in the economy. 

Volume 20, Number 2 (Summer 2000)

Real reform of the Fed begins with setting interest rates free, the abolition of deposit insurance, and ending the Fed’s position as lender of last

I don’t think the world has ever been in a more dangerous economic situation than it is today.

Recorded at the Mises Institute in Auburn, Alabama, on 26 July 2014.

Recorded at the Mises Institute in Auburn, Alabama, on 24 July 2014.

Republicans are certainly not in a position to legislate radical monetary reform. But that is no excuse for a careless decision by the would-be reformers to veer into a cul-de-sac under the misleading directions of Professor Taylor.

Keynesians are fond of overstating both the magnitude of the trade deficit and its alleged negative effects.

Many Austrians saw the bust coming, and thanks to Austrian economics, we also better understand the details of how booms and busts work.

Those who are calling for small reforms like changes to the Fed’s dual mandate are wrong. It is now clear that the Fed and the European Central Bank are hard-wired to inflate the money supply while encouraging banks to make excessively risky loans. Radical changes are needed.