Trump Taps Supply-Side Champion Stephen Moore for Fed Board

Influential supply-side economist Stephen Moore has been nominated by President Trump for a seat on the Federal Reserve Board of Governors. His decades of research, writing, and championing of supply-side economics make him the perfect pick to fill one of the most important economic positions in the U.S. Stephen Moore’s legacy as a leader in the supply-side movement dates back to his efforts leading President Reagan’s Privatization Commission. He has advised think tanks including the Heritage Foundation, the Cato Institute, and FreedomWorks on economics, and he founded the Club for Growth as well as the Committee to Unleash Prosperity. Most

Who Should Trump Appoint to the Fed? Here’s a Perfect Choice

Federal Reserve watchers are eagerly awaiting President Trump’s appointments for two vacant positions on the central bank’s board of governors. While you won’t see much discussion about these candidates on cable news, make no mistake — filling the Fed Board of Governors will be among the most critical personnel and economic decisions that the Trump administration makes. For those of us who wish for a more transparent Fed that remains laser focused on maintaining a stable, sound dollar, out of all of the rumored candidates, one name inspires significantly more enthusiasm than the rest: Dr. Judy Shelton. As the New

This Week in Economics: 3 Stories You Should Know About

1.) Reagan economist Arthur Laffer corrects the record on who deserves credit for our economic boom. Last week, I explained why Barack Obama does not deserve credit for Trump’s economic boom. To the contrary, the economic growth President Trump has achieved comes in spite of Obama, as many of the previous administration’s economic policies remain on the books (though President Trump is working diligently to dismantle them brick by brick). This week, Reagan economist Arthur Laffer echoed this sentiment by pointing out that we had “the worst recovery in U.S. history under Barack Obama,” while President Trump has had the

What’s Going On with the Stock Market — And Can Trump Fix It?

Yesterday, the Dow Jones Industrial Average suffered its largest single-day point decline in history after tumbling 1,175 points. Compounding concerns, this sell-off occurred immediately after another large sell-off the previous trading day (Friday) where the Dow shed 666 points. Although the forces behind these changes are, of course, complex, here are the cliff notes on what is driving this market correction. As USA Today reported, “Fears of spiking inflation and borrowing costs caused investors to rethink their bullish views on stocks, which until just last week had fueled huge gains in the blue-chip Dow… [The market] fears and worries that

President Trump Delivers ANOTHER Quarter of Economic ‘Winning’!

Last week, the Commerce Department announced the U.S. economy grew at 3 percent for the second quarter in a row! If this initial estimate holds up, our economy will compete for its third straight quarter of 3-plus percent growth which, if achieved, would be the first time we landed this economic “hat-trick” since before the 2008 financial crisis. The second quarter’s economic expansion was made more impressive by the fact that the U.S. suffered two major hurricanes during this time span. These hurricanes damaged powerful centers of economic activity, including Texas and Florida, yet the ‘Trump Boom’ still proved resilient.

The One, Serious Problem with Trump’s Budget

Last week, President Trump released a budget plan that was widely praised by conservatives for reining in future spending. However, buried near the back of the budget (page 51) is one item in need of further attention — the Trump administration’s interest rate projections. Under Trump’s budget, interest rates on 10-year bonds are projected to rise from 2.7 percent currently to 3.8 percent in 2027. While the 1.1 percent rise in interest rates over the next decade is in accordance with Blue Chip forecasts (which could explain why the figures were chosen for budgetary purposes), the fact that Trump’s budget

Ron Paul Cheers Historic, New State Law Ending Taxes on Gold Coins

Arizona just became the second state, after Utah, to remove state income tax from gold and silver coins. Ron Paul, for one, is cheering: Every supporter of free markets should cheer Arizona’s passage of HB 2014. There is no more justification for forcing individuals to use government created money than there is for forcing them to drive government manufactured cars. In fact, as the Federal Reserve’s 114 years of failure shows, giving monopoly control over our money supply to a secretive central bank is the most dangerous form of government intervention… By taxing any increase in the value of gold

Central Banks Were Invented by Communists

This article was originally posted at the Epoch Times. If you visit the Federal Reserve’s Facebook page, you will seldom find a positive comment. That’s because people who don’t care about central banking won’t go to the Fed’s Facebook page. That leaves only the ones who are positive about it—if they exist—and the ones who don’t like central banks. The right doesn’t like central banks because of their centrality. The banks centralize power over interest rates, and the right doesn’t like central control over pretty much anything. The left doesn’t like central banks because they represent money, capitalism, and “too big