Monetary Policy
By minimizing the harm caused by recessions and high inflations, monetary policy can promote economic stability and create an environment in which individuals and businesses prosper and thrive. In pursuit of these goals, Mercatus research shows why and how the Federal Reserve should (a) follow a rules-based approach to making policy, (b) increase its transparency and accountability to the public, and (c) better utilize market signals.
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Latest work in Monetary Policy
- | Monetary Policy Monetary Policy
 - | Mercatus Original Podcasts Mercatus Original Podcasts
 - | Macro Musings Macro Musings
 
Bryan Cutsinger on the What the History of Growth Driven Deflation Can Teach us about a Potential AI Boom
What does the postbellum period and today have in common?
        
 - | Monetary Policy Monetary Policy
 - | Policy Briefs Policy Briefs
 
The Mysterium Body Called the Fed: How Discretion Obscures Accountability
Why the Federal Reserve needs a rule-based framework
        - | Monetary Policy Monetary Policy
 - | Mercatus Original Podcasts Mercatus Original Podcasts
 - | Macro Musings Macro Musings
 
Will Roberds and Steve Quinn on the Original Central Bank: the Bank of Amsterdam
What lessons can modern central banks learn from the Bank of Amsterdam?
        
 - | Monetary Policy Monetary Policy
 - | Mercatus Original Podcasts Mercatus Original Podcasts
 - | Macro Musings Macro Musings
 
Jim Clouse on the Last 4 Decades at the Most Powerful Central Bank in the World
What happened in the Fed’s command center when the clock struck midnight on Y2K?
        
 - | Monetary Policy Monetary Policy
 - | Expert Commentary Expert Commentary
 
The Stablecoin Interest Fight | FinRegRag
- | Monetary Policy Monetary Policy
 - | Expert Commentary Expert Commentary
 
Home, Home on the (Inflation) Range, Where the Hawks and Doves Roam | Macroeconomic Policy Nexus
- | Monetary Policy Monetary Policy
 - | Mercatus Original Podcasts Mercatus Original Podcasts
 - | Macro Musings Macro Musings
 
Manmohan Singh on the Meaning of Money after the GENIUS Act
Are our financial plumbing pipes clogged, closed, or rusted?
        
 - | Monetary Policy Monetary Policy
 - | TV Appearance TV Appearance
 
Shutdown Does Not Project Effective Governance | BNN Bloomberg – The Close
- | Monetary Policy Monetary Policy
 - | Radio Appearance Radio Appearance
 
What’s Next for Interest Rates? Look to the Fed Minutes | Marketplace Morning Report
- | Monetary Policy Monetary Policy
 - | Mercatus Original Podcasts Mercatus Original Podcasts
 - | Macro Musings Macro Musings
 
Raphael Bostic on Life as a Regional Fed President, the Responsibilities of a Dual Mandate, and the Results of the 2025 Framework Review
What does birding have to do with central banking?
        
 - | Monetary Policy Monetary Policy
 - | Expert Commentary Expert Commentary
 
From Floors to Ceilings: The Fed’s Quiet Turning Point? | Macroeconomic Policy Nexus (Substack)
- | Monetary Policy Monetary Policy
 - | Mercatus Original Podcasts Mercatus Original Podcasts
 - | Macro Musings Macro Musings
 
Jon Hartley on the Legacy of John Taylor and his New Measure of R-Star
Is John Taylor the most influential macroeconomist of the last 50 years?
        
 - | Monetary Policy Monetary Policy
 - | Mercatus Original Podcasts Mercatus Original Podcasts
 - | Macro Musings Macro Musings
 
Marc Giannoni on the Fed’s Framework Review, it’s Independence, and the Future of R-Star
When it’s staring us in the face, do we know what good monetary policy looks like?
        
 - | Monetary Policy Monetary Policy
 - | Expert Commentary Expert Commentary
 
Changing the Federal Reserve Districts | Macroeconomic Policy Nexus (Substack)
- | Monetary Policy Monetary Policy
 - | Mercatus Original Podcasts Mercatus Original Podcasts
 - | Macro Musings Macro Musings
 
Samim Ghamami on the Treasury Markets Impact on the Future Path of Interest Rates and Inflation
What are the long-term impacts of the One Big, Beautiful Bill?
        
 - | Monetary Policy Monetary Policy
 - | Expert Commentary Expert Commentary
 
Getting FAIT, Staying FIT | Macroeconomic Policy Nexus (Substack)
- | Monetary Policy Monetary Policy
 - | Expert Commentary Expert Commentary
 
Redrawing Monetary Geography | Macroeconomic Policy Nexus (Substack)
- | Monetary Policy Monetary Policy
 - | Policy Spotlights Policy Spotlights
 
Closing the Fed’s Oversight Gap
For more than a century the Federal Reserve has had only minimal oversight.  Here are options for strengthening the Fed's accountability.
        - | Monetary Policy Monetary Policy
 - | Mercatus Original Podcasts Mercatus Original Podcasts
 - | Macro Musings Macro Musings
 
Jerry Dwyer on the History of Free Banking and the Future of Bitcoin
What was it like having Milton Friedman as your dissertation chair?
        
 - | Monetary Policy Monetary Policy
 - | Expert Commentary Expert Commentary
 
The Fed’s Hidden Powers and Its AI Future | Macroeconomic Policy Nexus (Substack)
Latest work in Monetary Policy
- | Monetary Policy Monetary Policy
 - | Mercatus Original Podcasts Mercatus Original Podcasts
 - | Macro Musings Macro Musings
 
Bryan Cutsinger on the What the History of Growth Driven Deflation Can Teach us about a Potential AI Boom
What does the postbellum period and today have in common?
        
 - | Monetary Policy Monetary Policy
 - | Policy Briefs Policy Briefs
 
The Mysterium Body Called the Fed: How Discretion Obscures Accountability
Why the Federal Reserve needs a rule-based framework
        - | Monetary Policy Monetary Policy
 - | Mercatus Original Podcasts Mercatus Original Podcasts
 - | Macro Musings Macro Musings
 
Will Roberds and Steve Quinn on the Original Central Bank: the Bank of Amsterdam
What lessons can modern central banks learn from the Bank of Amsterdam?
        
 - | Monetary Policy Monetary Policy
 - | Mercatus Original Podcasts Mercatus Original Podcasts
 - | Macro Musings Macro Musings
 
Jim Clouse on the Last 4 Decades at the Most Powerful Central Bank in the World
What happened in the Fed’s command center when the clock struck midnight on Y2K?
        
 - | Monetary Policy Monetary Policy
 - | Expert Commentary Expert Commentary
 
The Stablecoin Interest Fight | FinRegRag
- | Monetary Policy Monetary Policy
 - | Expert Commentary Expert Commentary
 
Home, Home on the (Inflation) Range, Where the Hawks and Doves Roam | Macroeconomic Policy Nexus
- | Monetary Policy Monetary Policy
 - | Mercatus Original Podcasts Mercatus Original Podcasts
 - | Macro Musings Macro Musings
 
Manmohan Singh on the Meaning of Money after the GENIUS Act
Are our financial plumbing pipes clogged, closed, or rusted?
        
 - | Monetary Policy Monetary Policy
 - | TV Appearance TV Appearance
 
Shutdown Does Not Project Effective Governance | BNN Bloomberg – The Close
- | Monetary Policy Monetary Policy
 - | Radio Appearance Radio Appearance
 
What’s Next for Interest Rates? Look to the Fed Minutes | Marketplace Morning Report
- | Monetary Policy Monetary Policy
 - | Mercatus Original Podcasts Mercatus Original Podcasts
 - | Macro Musings Macro Musings
 
Raphael Bostic on Life as a Regional Fed President, the Responsibilities of a Dual Mandate, and the Results of the 2025 Framework Review
What does birding have to do with central banking?
        
 - | Monetary Policy Monetary Policy
 - | Expert Commentary Expert Commentary
 
From Floors to Ceilings: The Fed’s Quiet Turning Point? | Macroeconomic Policy Nexus (Substack)
- | Monetary Policy Monetary Policy
 - | Mercatus Original Podcasts Mercatus Original Podcasts
 - | Macro Musings Macro Musings
 
Jon Hartley on the Legacy of John Taylor and his New Measure of R-Star
Is John Taylor the most influential macroeconomist of the last 50 years?
        
 - | Monetary Policy Monetary Policy
 - | Mercatus Original Podcasts Mercatus Original Podcasts
 - | Macro Musings Macro Musings
 
Marc Giannoni on the Fed’s Framework Review, it’s Independence, and the Future of R-Star
When it’s staring us in the face, do we know what good monetary policy looks like?
        
 - | Monetary Policy Monetary Policy
 - | Expert Commentary Expert Commentary
 
Changing the Federal Reserve Districts | Macroeconomic Policy Nexus (Substack)
- | Monetary Policy Monetary Policy
 - | Mercatus Original Podcasts Mercatus Original Podcasts
 - | Macro Musings Macro Musings
 
Samim Ghamami on the Treasury Markets Impact on the Future Path of Interest Rates and Inflation
What are the long-term impacts of the One Big, Beautiful Bill?
        
 - | Monetary Policy Monetary Policy
 - | Expert Commentary Expert Commentary
 
Getting FAIT, Staying FIT | Macroeconomic Policy Nexus (Substack)
- | Monetary Policy Monetary Policy
 - | Expert Commentary Expert Commentary
 
Redrawing Monetary Geography | Macroeconomic Policy Nexus (Substack)
- | Monetary Policy Monetary Policy
 - | Policy Spotlights Policy Spotlights
 
Closing the Fed’s Oversight Gap
For more than a century the Federal Reserve has had only minimal oversight.  Here are options for strengthening the Fed's accountability.
        - | Monetary Policy Monetary Policy
 - | Mercatus Original Podcasts Mercatus Original Podcasts
 - | Macro Musings Macro Musings
 
Jerry Dwyer on the History of Free Banking and the Future of Bitcoin
What was it like having Milton Friedman as your dissertation chair?
        
 - | Monetary Policy Monetary Policy
 - | Expert Commentary Expert Commentary
 
The Fed’s Hidden Powers and Its AI Future | Macroeconomic Policy Nexus (Substack)
Latest work in Monetary Policy
- | Monetary Policy Monetary Policy
 - | Working Papers Working Papers
 
How Much Did Macroeconomic Policy Matter? A New Decomposition of the US Inflation Surge of 2021–22
Inflation surged as demand ran hot—NGDP trends offer a tool for prevention
        - | Monetary Policy Monetary Policy
 - | Working Papers Working Papers
 
The Reliability of the Nominal GDP Expectations Gap
- | Monetary Policy Monetary Policy
 - | Working Papers Working Papers
 
Survey Measures of the Natural Rate of Interest
Offering policymakers new tools to determine the current stance of monetary policy
        - | Monetary Policy Monetary Policy
 - | Research Papers Research Papers
 
Making Milton Friedman’s Monetarism Relevant Again
How the Fed’s shift to monetarism proved inflation is a monetary phenomenon—and why Friedman’s insights still matter for policy today
        - | Monetary Policy Monetary Policy
 - | Working Papers Working Papers
 
A New Measure of the Stance of Eurozone Monetary Policy
The NGDP gap can help policymakers assess whether current policy is on track
        - | Monetary Policy Monetary Policy
 - | Research Papers Research Papers
 
Last Resort Lending: Classical Thought vs. Modern Federal Reserve Practice
Central banks used to play a far smaller role in credit markets than the Federal Reserve does today.
        - | Monetary Policy Monetary Policy
 - | Research Papers Research Papers
 
What the Fed Needs to Do to Control Inflation and Stabilize the Economy
- | Monetary Policy Monetary Policy
 - | Research Papers Research Papers
 
Getting Monetary Policy Right: What Should the Federal Reserve Have Learned from Its Pandemic Response?
- | Monetary Policy Monetary Policy
 - | Working Papers Working Papers
 
What Is the Monetary Standard? The Fed Should Tell Us
- | Monetary Policy Monetary Policy
 - | Research Papers Research Papers
 
Fifteen Years of Aggressive Discretionary Fiscal Policy
- | Monetary Policy Monetary Policy
 - | Working Papers Working Papers
 
Nominal Income Expectations of Consumers
- | Monetary Policy Monetary Policy
 - | Books Books
 
Alternative Approaches to Monetary Policy
Published at "TheMoneyIllusion"
        - | Monetary Policy Monetary Policy
 - | Research Papers Research Papers
 
Is the Quantity Theory Dead? Lessons from the Pandemic
- | Monetary Policy Monetary Policy
 - | Research Papers Research Papers
 
What Kind of Landing: Soft or Hard?
- | Monetary Policy Monetary Policy
 - | Working Papers Working Papers
 
The Fate of FAIT: Salvaging the Fed’s Framework
- | Monetary Policy Monetary Policy
 - | Research Papers Research Papers
 
How the Federal Open Market Committee Can Start Learning from Experience
- | Monetary Policy Monetary Policy
 - | Research Papers Research Papers
 
Learning from the Pandemic Monetary Policy Experiment
- | Monetary Policy Monetary Policy
 - | Working Papers Working Papers
 
The Princeton School and the Zero Lower Bound
- | Monetary Policy Monetary Policy
 - | Working Papers Working Papers
 
The Expectations Gap: An Alternative Measure of Economic Slack
Latest work in Monetary Policy
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 - | Financial Markets Financial Markets
 - | Essays Essays
 
Market Monetarism: Roadmap to economic prosperity
Marcus Nunes and Benjamin Cole
        
 Latest work in Monetary Policy
- | Monetary Policy Monetary Policy
 - | Policy Briefs Policy Briefs
 
The Mysterium Body Called the Fed: How Discretion Obscures Accountability
Why the Federal Reserve needs a rule-based framework
        - | Monetary Policy Monetary Policy
 - | Policy Briefs Policy Briefs
 
Measuring Macroeconomic Policy: the NGDP Gap
The NGDP gap is a benchmark measure created by the Mercatus Center at George Mason University. It helps assess whether macroeconomic policy is expansionary or contractionary.
        - | Monetary Policy Monetary Policy
 - | Policy Briefs Policy Briefs
 
The Federal Reserve Should Welcome the Appointment of an Independent Inspector General
The $3 billion upgrade of the Fed’s HQ is like building a “Versailles Palace on the National Mall.” The Fed urgently needs a fully independent watchdog.
        - | Federal Reserve Framework Review Federal Reserve Framework Review
 - | Monetary Policy Monetary Policy
 - | Policy Briefs Policy Briefs
 
A Rule-Based Monetary Policy
Monetary policy remains a contentious topic, but historical evidence, particularly from the Volcker–Greenspan era, suggests that the rule-based approach would offer greater predictability, stability, transparency, and consistency in Fed policy
        - | Federal Reserve Framework Review Federal Reserve Framework Review
 - | Monetary Policy Monetary Policy
 - | Policy Briefs Policy Briefs
 
An Effective Monetary Policy with Nominal GDP Level Targeting
The Federal Reserve should consider adopting a policy of nominal GDP level targeting, which is the best way to stabilize the labor market and the financial system while maintaining an average inflation rate of close to 2 percent
        - | Federal Reserve Framework Review Federal Reserve Framework Review
 - | Monetary Policy Monetary Policy
 - | Policy Briefs Policy Briefs
 
Targeting Nominal GDP Through Monetary Control
Instead of using flexible average inflation targeting (FAIT) to control inflation, the Federal Reserve should shift its strategy to target the nation’s economic growth rate, measured as nominal (not adjusted for inflation) GDP
        - | Federal Reserve Framework Review Federal Reserve Framework Review
 - | Monetary Policy Monetary Policy
 - | Policy Briefs Policy Briefs
 
A Critique of Lars Svensson’s Arguments Against NGDP Targeting
Lars Svensson’s conclusion that nominal GDP targeting (NGDPT) is inferior to average inflation targeting rested upon several subtle fallacies, so the Fed should use its current framework review to reconsider NGDPT
        - | Federal Reserve Framework Review Federal Reserve Framework Review
 - | Monetary Policy Monetary Policy
 - | Policy Briefs Policy Briefs
 
Financial Stability and Nominal GDP Targeting
NGDP targeting is simpler, more intuitive, and more robust than the current monetary policy strategy
        - | Federal Reserve Framework Review Federal Reserve Framework Review
 - | Monetary Policy Monetary Policy
 - | Policy Briefs Policy Briefs
 
Post-pandemic Inflation and Improving FAIT with Nominal GDP Level Targeting
Flexible average inflation targeting can be improved by dropping its asymmetry so that it is implemented as a form of nominal GDP level targeting
        - | Monetary Policy Monetary Policy
 - | Policy Briefs Policy Briefs
 
The Fed’s 2024–25 Framework Review: Optimizing the Dual Mandate Through Nominal GDP Level Targeting
As the Federal Reserve considers how to implement its dual mandate of price stability and maximum employment, it should adopt—or approach—nominal GDP level targeting as a benchmark framework.
        - | Monetary Policy Monetary Policy
 - | Policy Briefs Policy Briefs
 
Strengthening the Federal Reserve’s Accountability to the US Congress
Congress has a constitutional duty to oversee the Federal Reserve, but the complexity of its monetary policy has outpaced existing oversight tools. This brief looks at approaches for restoring the balance between the Fed’s independence and accountability.
        - | Monetary Policy Monetary Policy
 - | Policy Briefs Policy Briefs
 
The Economic Situation, September 2024
- | Monetary Policy Monetary Policy
 - | Policy Briefs Policy Briefs
 
Enhancing FOMC Transparency: Making Implicit Monetary Policy Rules Explicit
The FOMC communicates the consistency in its monetary policy to markets but not the public. In order to be more accountable and transparent, the FOMC should communicate that consistency to the public and Congress as well.
        - | Monetary Policy Monetary Policy
 - | Policy Briefs Policy Briefs
 
The Neutral Level of NGDP and the NGDP Gap: Q1 2024
- | Monetary Policy Monetary Policy
 - | Policy Briefs Policy Briefs
 
The Neutral Level of NGDP and the NGDP Gap: Q4 2023
- | Monetary Policy Monetary Policy
 - | Policy Briefs Policy Briefs
 
Governance and Diversity at the Federal Reserve
- | Monetary Policy Monetary Policy
 - | Policy Briefs Policy Briefs
 
The Neutral Level of NGDP and the NGDP Gap: Q3 2023
- | Monetary Policy Monetary Policy
 - | Policy Briefs Policy Briefs
 
The Neutral Level of NGDP and the NGDP Gap: Q2 2023
- | Monetary Policy Monetary Policy
 - | Policy Briefs Policy Briefs
 
A New Coin of the Realm? Central Bank Digital Currency as New Public Money
- | Monetary Policy Monetary Policy
 - | Policy Briefs Policy Briefs
 
Transparency at Federal Reserve Banks
Latest work in Monetary Policy
- | Monetary Policy Monetary Policy
 - | Policy Spotlights Policy Spotlights
 
Closing the Fed’s Oversight Gap
For more than a century the Federal Reserve has had only minimal oversight.  Here are options for strengthening the Fed's accountability.
        - | Monetary Policy Monetary Policy
 - | Policy Spotlights Policy Spotlights
 
A Rule-Based Monetary Policy
- | Monetary Policy Monetary Policy
 - | Policy Spotlights Policy Spotlights
 
Average Inflation Targeting and the Benefits of Offsetting Periods of High or Low Inflation
- | Monetary Policy Monetary Policy
 - | Policy Spotlights Policy Spotlights
 
The Relationship between Interest Rates and Monetary Policy
 - | Monetary Policy Monetary Policy
 - | Policy Spotlights Policy Spotlights
 
How the Fed Controls Monetary Policy
 Latest work in Monetary Policy
- | Monetary Policy Monetary Policy
 - | Mercatus Original Podcasts Mercatus Original Podcasts
 - | Macro Musings Macro Musings
 
Bryan Cutsinger on the What the History of Growth Driven Deflation Can Teach us about a Potential AI Boom
What does the postbellum period and today have in common?
        
 - | Monetary Policy Monetary Policy
 - | Mercatus Original Podcasts Mercatus Original Podcasts
 - | Macro Musings Macro Musings
 
Will Roberds and Steve Quinn on the Original Central Bank: the Bank of Amsterdam
What lessons can modern central banks learn from the Bank of Amsterdam?
        
 - | Monetary Policy Monetary Policy
 - | Mercatus Original Podcasts Mercatus Original Podcasts
 - | Macro Musings Macro Musings
 
Jim Clouse on the Last 4 Decades at the Most Powerful Central Bank in the World
What happened in the Fed’s command center when the clock struck midnight on Y2K?
        
 - | Monetary Policy Monetary Policy
 - | Mercatus Original Podcasts Mercatus Original Podcasts
 - | Macro Musings Macro Musings
 
Manmohan Singh on the Meaning of Money after the GENIUS Act
Are our financial plumbing pipes clogged, closed, or rusted?
        
 - | Monetary Policy Monetary Policy
 - | TV Appearance TV Appearance
 
Shutdown Does Not Project Effective Governance | BNN Bloomberg – The Close
- | Monetary Policy Monetary Policy
 - | Radio Appearance Radio Appearance
 
What’s Next for Interest Rates? Look to the Fed Minutes | Marketplace Morning Report
- | Monetary Policy Monetary Policy
 - | Mercatus Original Podcasts Mercatus Original Podcasts
 - | Macro Musings Macro Musings
 
Raphael Bostic on Life as a Regional Fed President, the Responsibilities of a Dual Mandate, and the Results of the 2025 Framework Review
What does birding have to do with central banking?
        
 - | Monetary Policy Monetary Policy
 - | Mercatus Original Podcasts Mercatus Original Podcasts
 - | Macro Musings Macro Musings
 
Jon Hartley on the Legacy of John Taylor and his New Measure of R-Star
Is John Taylor the most influential macroeconomist of the last 50 years?
        
 - | Monetary Policy Monetary Policy
 - | Mercatus Original Podcasts Mercatus Original Podcasts
 - | Macro Musings Macro Musings
 
Marc Giannoni on the Fed’s Framework Review, it’s Independence, and the Future of R-Star
When it’s staring us in the face, do we know what good monetary policy looks like?
        
 - | Monetary Policy Monetary Policy
 - | Mercatus Original Podcasts Mercatus Original Podcasts
 - | Macro Musings Macro Musings
 
Samim Ghamami on the Treasury Markets Impact on the Future Path of Interest Rates and Inflation
What are the long-term impacts of the One Big, Beautiful Bill?
        
 - | Monetary Policy Monetary Policy
 - | Mercatus Original Podcasts Mercatus Original Podcasts
 - | Macro Musings Macro Musings
 
Jerry Dwyer on the History of Free Banking and the Future of Bitcoin
What was it like having Milton Friedman as your dissertation chair?
        
 - | Monetary Policy Monetary Policy
 - | Mercatus Original Podcasts Mercatus Original Podcasts
 - | Macro Musings Macro Musings
 
Hester Peirce on the role of the SEC, Financial Surveillance, and Crypto
What does putting peanut butter on your watermelon have to do with financial surveillance?
        
 - | Monetary Policy Monetary Policy
 - | Mercatus Original Podcasts Mercatus Original Podcasts
 - | Macro Musings Macro Musings
 
Robin Brooks on the Dollar, Fiscal Dominance, and Geoeconomics
Will the US or China strike each other’s Achilles’ heel first?
        
 - | Monetary Policy Monetary Policy
 - | Mercatus Original Podcasts Mercatus Original Podcasts
 - | Macro Musings Macro Musings
 
Aditi Sahasrabuddhe on the Role Central Banker Relationships Play in Economic Crises
What does history tell us about why India was denied a currency swap line?
        
 - | Monetary Policy Monetary Policy
 - | Mercatus Original Podcasts Mercatus Original Podcasts
 - | Macro Musings Macro Musings
 
Will Luther and Josh Hendrickson on the future of Bitcoin
Is George Selgin a proto-Bitcoiner?
        
 - | Monetary Policy Monetary Policy
 - | Mercatus Original Podcasts Mercatus Original Podcasts
 - | Macro Musings Macro Musings
 
Rashad Ahmed on the Global Impact of US Stablecoin Regulation and Crypto Adoption
Will the GENIUS act be a stroke of genius?
        
 - | Monetary Policy Monetary Policy
 - | Mercatus Original Podcasts Mercatus Original Podcasts
 - | Macro Musings Macro Musings
 
Paul Kupiec on Problems with the Fed’s Balance Sheet and Calls to End Interest on Reserves
Can the Federal Reserve start making money again?
        
 - | Monetary Policy Monetary Policy
 - | Mercatus Original Podcasts Mercatus Original Podcasts
 - | Macro Musings Macro Musings
 
George Hall on the Fiscal Consequences of the US War on COVID
Thank you for listening and learning with us for 500 episodes of Macro Musings!
        
 - | Monetary Policy Monetary Policy
 - | Podcast Appearance Podcast Appearance
 
We’re Entering the Final Phase of Fiscal Dominance | Blockworks’ Forward Guidance
- | Monetary Policy Monetary Policy
 - | Mercatus Original Podcasts Mercatus Original Podcasts
 - | Macro Musings Macro Musings
 
Ben Harris on the Fiscal Health of the US Government
How much longer can we kick the can down the road?
        
 Latest work in Monetary Policy
- | Monetary Policy Monetary Policy
 - | State Testimonies State Testimonies
 
The Evolution of the Role of the Federal Reserve
Pennsylvania House Majority Policy Committee
        - | Monetary Policy Monetary Policy
 - | Federal Testimonies Federal Testimonies
 
Safeguarding the Federal Reserve's Independence
Testimony before the Subcommittee on National Security, International Development, and Monetary Policy of the House Committee on Financial Services
        - | Monetary Policy Monetary Policy
 - | Public Interest Comments Public Interest Comments
 
FedNow Portends a More Competitive and Resilient Payments System
- | Monetary Policy Monetary Policy
 - | Public Interest Comments Public Interest Comments
 
Response to the Federal Housing Finance Agency Request for Comment on How Its Regulations May Be Made More Effective and Less Burdensome
- | Technology and Innovation Technology and Innovation
 - | Public Interest Comments Public Interest Comments
 
Comments to the New York Department of Financial Services on the Proposed Virtual Currency Regulatory Framework
- | Financial Markets Financial Markets
 - | Federal Testimonies Federal Testimonies
 
Legislation to Reform the Federal Reserve on Its 100-year Anniversary
Testimony Before the House Committee on Financial Services Committee
        - | Financial Markets Financial Markets
 - | Federal Testimonies Federal Testimonies
 
Ending the Federal Reserve System’s Overreach into Credit Allocation
Testimony Before the Subcommittee on Monetary Policy and Trade House Committee on Financial Services
        - | Technology and Innovation Technology and Innovation
 - | Federal Testimonies Federal Testimonies
 
Beyond Silk Road: Potential Risks, Threats, and Promises of Virtual Currencies
Testimony Before the Senate Committee on Homeland Security and Governmental Affairs
        - | Monetary Policy Monetary Policy
 - | Federal Testimonies Federal Testimonies
 
The Federal Reserve and the Rule of Law
Testimony Before the House Committee on Financial Services
        - | Monetary Policy Monetary Policy
 - | Federal Testimonies Federal Testimonies
 
Fractional Reserve Banking
Testimony Before the House Subcommittee on Domestic Monetary Policy and Technology
        - | Monetary Policy Monetary Policy
 - | Public Interest Comments Public Interest Comments
 
Mutual Fund After-Tax Returns
- | Monetary Policy Monetary Policy
 - | Public Interest Comments Public Interest Comments
 
Minimum Security Devices and Procedures and Bank Secrecy Act
Latest work in Monetary Policy
- | Monetary Policy Monetary Policy
 - | Expert Commentary Expert Commentary
 
The Stablecoin Interest Fight | FinRegRag
- | Monetary Policy Monetary Policy
 - | Expert Commentary Expert Commentary
 
Home, Home on the (Inflation) Range, Where the Hawks and Doves Roam | Macroeconomic Policy Nexus
- | Monetary Policy Monetary Policy
 - | Expert Commentary Expert Commentary
 
From Floors to Ceilings: The Fed’s Quiet Turning Point? | Macroeconomic Policy Nexus (Substack)
- | Monetary Policy Monetary Policy
 - | Expert Commentary Expert Commentary
 
Changing the Federal Reserve Districts | Macroeconomic Policy Nexus (Substack)
- | Monetary Policy Monetary Policy
 - | Expert Commentary Expert Commentary
 
Getting FAIT, Staying FIT | Macroeconomic Policy Nexus (Substack)
- | Monetary Policy Monetary Policy
 - | Expert Commentary Expert Commentary
 
Redrawing Monetary Geography | Macroeconomic Policy Nexus (Substack)
- | Monetary Policy Monetary Policy
 - | Expert Commentary Expert Commentary
 
The Fed’s Hidden Powers and Its AI Future | Macroeconomic Policy Nexus (Substack)
- | Monetary Policy Monetary Policy
 - | Expert Commentary Expert Commentary
 
The Fed’s Independence on Trial | Macroeconomic Policy Nexus (Substack)
- | Monetary Policy Monetary Policy
 - | Expert Commentary Expert Commentary
 
Dollar Dominance in an Age of Stablecoins | Macroeconomic Policy Nexus (Substack)
- | Monetary Policy Monetary Policy
 - | Expert Commentary Expert Commentary
 
Have Your Cake and Eat It Too: The Fed’s 2025 Framework | Macroeconomic Policy Nexus (Substack)
- | Monetary Policy Monetary Policy
 - | Expert Commentary Expert Commentary
 
A Whole Lot of Fed and Little Bit of Bitcoin | Macroeconomic Policy Nexus (Substack)
- | Monetary Policy Monetary Policy
 - | Expert Commentary Expert Commentary
 
A Boring Central Bank | FinRegRag (Substack)
- | Monetary Policy Monetary Policy
 - | Expert Commentary Expert Commentary
 
The Rise and Redemption of Stablecoins | Macroeconomic Policy Nexus (Substack)
- | Monetary Policy Monetary Policy
 - | Expert Commentary Expert Commentary
 
Who Needs To Replace Powell? Politicians Are Already Doing the Fed’s Job | Barron’s
- | Monetary Policy Monetary Policy
 - | Expert Commentary Expert Commentary
 
Time is the Fire in Which We All Burn | Macroeconomic Policy Nexus (Substack)
- | Monetary Policy Monetary Policy
 - | Expert Commentary Expert Commentary
 
Drifting Toward Fiscal Dominance | Macroeconomic Policy Nexus (Substack)
- | Monetary Policy Monetary Policy
 - | Expert Commentary Expert Commentary
 
FAQs About the Fed’s HQ Upgrade | FinRegRag (Substack)
- | Monetary Policy Monetary Policy
 - | Expert Commentary Expert Commentary
 
Glass Houses, Glass Atriums | FinRegRag (Substack)
- | Monetary Policy Monetary Policy
 - | Expert Commentary Expert Commentary