Trump’s Fed Nominee Will Join the Gang That Can’t Shoot Straight

Recently, Politico reported that former Treasury undersecretary Randy Quarles will likely be nominated as the Federal Reserve’s top bank regulator. Since a potential Quarles appointment is viewed by some as a continuation of “business as usual” at the Fed, it’s prudent to revisit the Fed’s recent ineptitude that has shrunk its credibility. This Friday, the Bureau of Economic Analysis will release its early estimate of how the U.S. economy performed in the first quarter of 2017. Adding greater intrigue, the Federal Reserve’s economic forecasts are all over the place. The Fed’s confusion over the health of the economy is made

Greenspan’s Big Reveal: The Secret Recipe for Economic Growth

Former Fed Chair Alan Greenspan praises the gold standard in the February 2017 issue of The World Gold Council’s Gold Investor. Therein he makes what may be his strongest statements to date in praise of the gold standard. Here are some of the highlights. Toward the end of this interview he offers a Big Reveal: I view gold as the primary global currency. Gold, along with silver, is one of the only currencies that has an intrinsic value. It has always been that way. No one questions its value, and it has always been a valuable commodity, first coined in

Will Trump Be the “Gold Standard” President?

Remember when Donald Trump advocated for the gold standard on the campaign trail? GQ remembers: Bringing back the gold standard would be very hard to do, but boy would it be wonderful. We’d have a standard on which to base our money. And as Bloomberg’s Michelle Jamrisko highlighted last May, the GQ interview did not stand alone. Trump also expressed support for gold to New Hampshire’s WMUR-TV in early 2015, saying, “We used to have a very, very solid country because it was based on a gold standard.” Gold standard advocates, often affectionately called “gold bugs,” were thrilled by these

High Stakes for 2016: Judy Shelton for Fed Chair to Make America Great Again

In The Daily Caller, freelance writer Johannes Schmidt writes “On November 8th I’m Voting For Our Next Fed Chair.” It’s an especially astute column. While many commentators correctly have focused on the effect of the election outcome on appointments to the Supreme Court, too few have focused on the next president’s appointments to the Fed. This also is of capital importance. Schmidt writes: The policies implemented by the Fed are especially important (albeit often insidious) because money is our society’s most basic medium of exchange. The manipulation of its value affects every day citizens both in the short and long

Good Monetary Policy Is Too Serious a Matter to Be Left to the Fed

US News and World Report‘s Andrew Soergel reports that “With White House in Sight, Trump, Clinton Plan Fed Renovations: No matter who wins the election, times are likely changing at America’s central bank.” “The Fed” really is a synecdoche for monetary policy. Monetary policy used to be, off and on, a significant factor of presidential campaigns. In this election cycle, the monetary policy issue has only arisen occasionally and has not become a major issue of contention. Pity. It really deserves to be front and center. What is widely regarded as the most striking speech in presidential campaign history was

Donald Trump, the Politicized Fed, and the Golden Rule

Left-leaning thought leaders have been unfairly scalding Donald Trump for his recent observations that the Federal Reserve is politicized. Therein an inconsistency, verging over into naked hypocrisy, by the left is revealed. The LA Times summed up the story in an article headlined “Is the Fed Politically Biased“: Every four years, the independent Fed faces the same predicament: how to try to manage the economy without appearing to favor either party’s presidential candidate. The sly phrase is “without appearing to.” Which, of course, is a very different thing than “without.” The politicization of the Fed is one of Washington’s biggest

Memo to Donald Trump: The Gold Standard Will Guarantee 4 Percent Growth

In calling for 4 percent growth, Donald Trump hit a home run. He has the right instincts. If he follows them he can turn this home run into a grand slam. When Jeb Bush declared his candidacy, he did it in a speech demanding no less than 4 percent growth: Growth above all. A growing economy, whether here in Detroit or throughout this country is the difference between poverty and prosperity for millions. If you want to close the opportunity gap, grow the economy. This is a principle that concentrates the mind. If a law or a rule doesn’t contribute to

Fed Up! Hillary Clinton in Cahoots with Attempted “Hostile Takeover” of the Fed

I’m fed up with the Fed too, with its chronic policy failures. A lot of evidence shows the Federal Reserve to be a prime cause of lackluster job growth and sluggishness in wage increases. That said, sometimes a cure is worse than the disease. Now the left, with the support of Hillary Clinton, is threatening to take us, to mix the metaphor, out of the frying pan and into the fire. Last week, about a dozen arch-progressives from “Fed Up” attended a hearing of a subcommittee of the House Financial Services Committee, “Federal Reserve Districts: Governance, Monetary Policy, and Economic

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