central banking
Recession is now a virtual inevitability.
“This is a time of testing -- a testing not only of our capacity collectively to reach coherent and intelligent policies, but to stick with them.” -- Paul Volcker
"Wall Street wisdom is that QE is immensely powerful and is stoking financial bubbles. Academics say, 'I take your $100 bills, I give you back 10 $10 bills. Who cares?'"
"The economic problem now is to control inflation and get to work on the supply side of the economy."
Almost unique among serious finance books, Edward Chancellor’s The Price of Time serves well as bedtime reading.
John H. Cochrane and Thomas S. Coleman discuss how the fiscal theory of the price level explains inflation.
What is driving the surge in inflation and how are central banks misplaying their hand?
Shouldn't all the recent monetary and fiscal stimulus lead to higher inflation? Maybe not.
What Enterprising Investor articles most resonated with readers in 2020?
Jerome Powell, Andrew Bailey, and Christine Lagarde shouldn't keep us up at night.