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by Michael Ashton on December 3, 2009
Thirty years ago, Volcker's "Saturday Night Special" announcement kicked off a monetarist experiment that permitted the Fed's direct assault on inflation. Maybe it is time to try it again. Read more »
by Michael Ashton on November 25, 2009
The Fed suspects that if rates are kept very low for a long time, it is possible that such policy could lead to excessive risk-taking in financial markets. Really. Read more »
by Michael Ashton on November 18, 2009
A small upside surprise in CPI could have been a bigger one without the housing-bubble unwind; this, combined with plummeting Housing Starts, is a bad set of data for the Fed. Read more »
by Michael Ashton on November 13, 2009
We offer a forecast for year-ahead core inflation, and explain the risks to that forecast. Read more »
by Michael Ashton on November 10, 2009
Think that companies which are "too big to fail" ought to be broken up and the pieces cast to the wolves? Great idea, except for the part about the government seizing private property. Read more »
by Michael Ashton on November 3, 2009
Evidence that union membership is closely related to core inflation is suggestive, but raises questions. Read more »