Featuring William P. Ruger, Vice President of Policy and Research, Charles Koch Institute; Jason Sorens, Lecturer, Department of Government, Dartmouth College; moderated by Peter Russo, Director of Congressional Affairs, Cato Institute.
Unconventional monetary policy—characterized by “zero interest rate policy” (ZIRP) and “quantitative easing” (QE), along with macro-prudential regulation—has increased the power of central banks in the United States, Japan, and Europe. In the new issue of Cato Journal, contributors revisit the thinking behind unconventional monetary policy and the “new monetary framework,” make the case for transparent monetary rules versus foggy discretion, and point to the distortions generated by ultra-low interest rates and preferential credit allocation.
Two successive presidents have treated the 2001 Authorization for Use of Military Force (AUMF) as a wholesale, potentially permanent delegation of congressional war powers — a writ for war without temporal or geographic limits.
When the Danish newspaper Jyllands-Posten published the cartoons of the prophet Muhammad in 2005, Denmark found itself at the center of a global battle about the freedom of speech. The paper’s culture editor, Flemming Rose, defended the decision to print the 12 drawings, and he quickly came to play a central part in the debate about the limitations to freedom of speech in the 21st century. In The Tyranny of Silence, Flemming Rose provides a personal account of an event that has shaped the debate about what it means to be a citizen in a democracy and how to coexist in a world that is increasingly multicultural, multireligious, and multiethnic.
The Cato Institute has released its 2015 Annual Report, which documents a dynamic year of growth and productivity. The thousands of individuals who contribute to Cato are passionate about freedom and committed to ensuring that future generations enjoy the blessings of liberty, unencumbered by an overreaching state that seeks to control their lives. This is Cato’s optimistic vision for the future, and it would be unimaginable without the Institute’s longstanding partnership with its Sponsors. We will continue our diligence and dedication to seeing this vision realized.
Featuring Rep. Scott Garrett, Chairman of the Congressional Constitution Caucus, Chairman of the Subcommittee on Capital Markets and Government-Sponsored Enterprises, House Financial Services Committee; and Louise Bennetts, Associate Director of Financial Regulation Studies, Cato Institute; moderated by Laura Odato, Director of Government Affairs, Cato Institute.
The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 was intended to “promote the financial stability of the United States by improving accountability and transparency in the financial system, to end ‘too big to fail,’ to protect the American taxpayer by ending bailouts, to protect consumers from abusive financial services practices, and for other purposes.” The law is extraordinarily complex, requiring almost a dozen federal agencies to complete 398 rulemaking requirements, plus about 145 studies that will affect rulemaking. With the rulemaking process underway, there are growing concerns about the Act’s constitutionality. In particular, the Act has implications for the separation of powers, the role of congressional oversight, vagueness and unfettered regulator discretion, and due process. Does Dodd-Frank provide effective oversight by any branch of government, and how can constitutional concerns about the law’s grants of regulatory power be resolved?