Cardiff Garcia of FT Alphaville replies to my case for lowering interest on excess reserves (IOER): David assumes that the the signaling...

Today is Milton Friedman's 100th birthday and much is being said about him. One question that continues to come up in this conversa...

Last Thursday, ECB President Mario Draghi said the following: Within our mandate, the ECB is ready to do whatever it takes to preserve ...

Can the Fed really add more stimulus by lowering the interest paid on excess reserves (IOER)? Many observers say yes and are encouraged by...

San Francisco Fed President John Williams is finally coming to the view that Market Monetarists have advocating for some time: the Fed sho...

In the past, I made the case that the shortage of safe assets is really just an excess money demand problem.  That is, the sharp decline i...

My apologies for the month-long blogging hiatus.  Among other things, I have been busy with moving to a new job, taking a family road trip,...