Shining Light on the Fourth Branch of Government

By: Daniel Horowitz (Diary)  |  February 26th at 08:01 AM  | 

This week, Federal Reserve Chairman Ben Bernanke will deliver his semiannual testimony before Congress defending his reckless monetary stimulus.  He will testify before the Senate Banking, Housing and Urban Affairs Committee today and the House Financial Services Committee on Wednesday.  Now is a good time for Republicans to demand more accountability from the fourth branch of government – the one not mentioned in the Constitution. | Read More »

Welcome to QE4!

By: Daniel Horowitz (Diary)  |  December 12th at 01:30 PM  | 

The actions of the Federal Reserve over the past 4 years exemplify insanity more than anything else in politics.  They continue implementing one monetary stimulus policy after another in an attempt to jumpstart the economy, even though they keep failing in that goal.  We had QE1,2,3 and Operations Twist 1 and 2.  Now the Fed’s Open Market Committee has announced a new monetary stimulus package | Read More »

Bread and Butter Issues: Free Markets, Monetary Stimulus, Purchase Power and Savings

By: Daniel Horowitz (Diary)  |  September 13th at 11:43 AM  | 

So the Producer Price Index (PPP) increased at the highest rate since June 2009 (the “end” of the recession), but fear not, inflation hasn’t trickled down to the consumer end yet, say the wizards of smart.  Except that it has.  You can use all the data you want, American consumers know they are paying much more for virtually everything at stores, supermarkets, and retailers.  And | Read More »

Mike Lee Wants to End the ‘Monetary Morphine’ at the Fed

By: Daniel Horowitz (Diary)  |  April 4th at 04:05 PM  | 

What’s worse than Congress picking winners and losers and distorting the free-market with bailouts, stimulus, and tendentious interventions on behalf of specific industries?  Unelected members of the Federal Reserve doing the same through monetary policy. It is amazing to watch how many Republicans will speak with such conviction against Keynesian fiscal stimulus policies, yet they will fervently promote monetary stimulus policies by the unaccountable Federal | Read More »

Interest rates: Egg on our Faces

By: Francis Cianfrocca (Diary)  |  June 2nd at 10:34 AM  | 

Just when you thought US Treasury debt couldn’t get more overpriced, it gets… more overpriced. The 10-year yield fell all the way to 2.95% yesterday. It held that level for part of this morning, and now is just under 3%. At least some of this has to be due to the supply disruption caused by the US hitting its debt ceiling. (Existing debt can be | Read More »