The Federal Reserve is embarked upon increasing the interest rate that they set on reserves held at the Fed. This is the interest rate that the Fed determines by diktat, coming after interest was allowed to be paid on reserves for the first time in 2008. This is being done to combat inflation. Consider howContinue reading “The Trojan Horse in the Gates of US Monetary Policy”
Friedrich A. Hayek Professor of Economic History; Department of Economics; University of Missouri – St. Louis
Max Gillman 