The ongoing feud between President Trump and Fed Chairman Jerome Powell centers on interest rates. This tells us more about the near-universal view of what constitutes monetary policy than it does ...

Good ideas don’t always outcompete bad ones. But willful foolishness usually has a cost. So it is with modern monetary theory ...

The central bank put its own independence at risk by straying from its narrow statutory mandate.

In an attempt to explain business cycles, Milton Friedman came up with a plucked-string analogy. Like all Monetarist theories, however, this also had fatal ...

The pandemic has offered economist Stephanie Kelton a chance to help turn Modern Monetary Theory into practice. What if the federal deficit didn’t actually matter? Modern Monetary Theory explained ...

The economist known as the godfather of Modern Monetary Theory is sounding an alarm on the rising fiscal deficit, saying that America is spending like a “drunken sailor.” American economist Warren ...

This paper examines whether monetary policy has similar effects across regions in the United States. Impulse response functions from an estimated structural vector autoregression reveal a core of ...

Forbes contributors publish independent expert analyses and insights. Working on digital transformation by busting boundaries. During the 2023 Economic Policy Symposium "Structural Shifts in the ...

Director of the National Economic Council Kevin Hassett said the Federal Reserve's monetary policy "needs to be fully ...

This is a preview. Log in through your library . Abstract In 2016, the monetary policy framework moved towards flexible inflation targeting and a six member Monetary Policy Committee (MPC) was ...