Monetary disturbances have been either a major cause of or a key accentuating factor in business fluctuations. Maintaining a money of stable value through institutional reform would be socially beneficial. It is time to recognize the limits of activist monetary policy and to focus on long-run price stability as the Fed’s primary objective.

More on The Fed and Monetary Policy

Cato Studies

Should Governments Restrict Cash?

By Jeffrey Rogers Hummel. Policy Analysis No. 855. November 14, 2018.

The Impact of the Dodd-Frank Act on Small Business

By Michael D. Bordo and John V. Duca. Research Briefs in Economic Policy No. 129. September 5, 2018.

Should Cryptocurrencies Be Regulated like Securities?

By Diego Zuluaga. CMFA Briefing Paper No. 1. June 25, 2018.

Articles

The Mortgage Interest Deduction Must Go

Ike Brannon. Bloomberg BNA: Daily Tax Report. November 1, 2017.

Fed Policy Is Too Light

Steve H. Hanke. The International Economy. Spring 2015.

The Productivity Gap: Monetary Policy, the Subprime Boom, and the Post-2001 Productivity Surge

George Selgin, David Beckworth, and Berrak Bahadir. Journal of Policy Modeling. Vol. 37. No. 2. March 2015.

Cato Reviews & Journals

Economic Conditions and Policy Strategies: A Monetarist View

Peter Ireland. Cato Journal. Winter 2019.

Monetary Policy, Fiscal Dominance, Contracts, and Populism

Sebastian Edwards. Cato Journal. Winter 2019.

The Fed and Lehman Brothers

Vern McKinley. Regulation. Winter 2018-2019.

Events

36th Annual Monetary Conference: Monetary Policy 10 Years after the Crisis

Featuring Peter Goettler, George Selgin, James A. Dorn, Lydia Mashburn, Rep. Jeb Hensarling, Phil Gramm, Claudio Borio, Josh Zumbrun, Stephen D. Williamson, Peter Ireland, Tobias Adrian, Vincent R. Reinhart, Ylan Mui, Michael D. Bordo, Joseph E. Gagnon, David Beckworth, John A. Allison, Jeffrey M. Lacker, Scott Sumner, & Jeffrey Frankel. November 15, 2018. Conference.

Fintech Unbound: The Cato Summit on Financial Regulation

Featuring Hester Peirce, Balaji Srinivasan, John Collins, Andrea O'Sullivan, Barry Wides, Ryan Zagone, Diego Zuluaga, Lydia Mashburn, Matthew Feeney, Louis Caditz-Peck, Jay Reinemann, Paul Watkins, Spencer Bogart, J.W. Verret, Hardeep Walia, Haimera Workie, & Gerald Tsai. September 12, 2018. Conference.

Should Cryptocurrencies Be Regulated like Securities?

Featuring Diego Zuluaga and Matt Weibel. July 24, 2018. Capitol Hill Briefing.