Since the fall of 2008, the Federal Reserve System has pumped an almost incomprehensibly large amount of reserves into the commercial banking system—about $1.4 trillion. In normal circumstances, this action would have given rise to hyperinflation. Of course, not only has no hyperinflation occurred, but scarcely any inflation at all has occurred, and policy…
Read More »
Tag: Federal Reserve System
Robert Higgs | Wednesday October 24, 2012 at 2:16 PM PDT
Robert Higgs | Saturday July 18, 2009 at 1:07 PM PDT
A passel of bigwig economists has signed a petition urging Congress and the executive branch “to reaffirm their support for and defend the independence of the Federal Reserve System as a foundation of U.S. economic stability.” In support of this defense of the Fed against those now challenging the secrecy of its undertakings and,…
Read More »