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    Obamacare Continues to Restrict Hiring

    The Federal Reserve Beige Book, released on March 6, cited Obamacare as a factor in slowing hiring and employment growth. The Beige Book is a report published eight times a year that details the economic activity in the 12 different Federal Reserve regions. As this most recent report explains, “Employers … More

    Fiscal Cliff: Decoupling Conservatives from Their Core Principles

    There are many ways to surrender—and some congressional Republicans seem bent on exploring them all. In the debate over the fiscal cliff, the President’s position is simple: The Republicans must capitulate on income tax rate hikes, and all other serious issues are not up for discussion. Never mind that Obama … More

    QE4: Another Big Step Down a Dangerous Road

    The Federal Reserve Board today announced the introduction of yet another hyper-aggressive monetary policy, dubbed “QE4” by some for the fourth round of quantitative easing. Three times a dud, fourth time a charm? Not likely. The Fed’s concerns for the economy are well-founded. The economy continues to struggle badly under … More

    Chinese Money Mysteries Solved

    The Wall Street Journal this week observed that money is leaving China. It has been doing so off and on since the economic crisis began, and during the last 18 months the amount of gross outflow may have been as much as $300 billion. This, however, sounds more important than … More

    Bernanke’s Message to Congress: Your Turn for Good Economic Policy

    The stock market rose Wednesday in anticipation of Federal Reserve Board Chairman Ben Bernanke’s remarks Thursday. Traders sold Treasury bonds and bought stocks, hoping Bernanke would announce a new monetary stimulus. They were sorely disappointed. Speaking to the Joint Economic Committee of Congress, Bernanke emphasized that the Fed has America’s … More

    PODCAST: John Taylor On Returning Economy to Prosperity

    In this special Heritage podcast, listen to distinguished Stanford economist John Taylor discuss his new book, First Principles: Five Keys to Restoring America’s Prosperity. PODCAST: John Taylor On Returning Economy to Prosperity What should guide policy proposals going forward? Are we in full economic recovery mode? Is inflation a threat … More

    The Fed, Other Central Banks Prepare for the Firestorm

    The Fed has shocked us once again, and it’s probably right. There’s a firestorm on the horizon. It starts in Europe, but it threatens the U.S. economy just as surely, and the Fed is getting ready. The most fundamental role of any central bank is to deal with a financial … More

    Obama Confirms Fears About New Financial Regulator

    The newly created Consumer Financial Protection Bureau (CFPB) took a step forward today to getting its first director, as the Senate Banking Committee voted 12–10 to confirm Richard Cordray in the post. Even before the vote, however, President Obama raised the stakes. Referring to Bank of America’s decision to impose … More

    Supply and Demand, Part II: The Money Supply

    My recent post explained why President Obama’s newly proposed $447 billion spending package aimed at boosting total demand is doomed to fail. Some commenters offered a challenge to that assertion. The basis for assessing the spending package: Economic growth is determined by the supply side of the economy, beginning with … More

    Restoring Economic Growth with a Stable Dollar

    The world is in economic crisis. Quite understandably, much attention has been given to cutting runaway government spending, a fundamental cause of the crisis. Much less attention has been given to the fundamental defects of the monetary system. These defects are at the heart of the economic collapse. Both budgetary … More