Monetary Policy
By minimizing the harm caused by recessions and high inflations, monetary policy can promote economic stability and create an environment in which individuals and businesses prosper and thrive. In pursuit of these goals, Mercatus research shows why and how the Federal Reserve should (a) follow a rules-based approach to making policy, (b) increase its transparency and accountability to the public, and (c) better utilize market signals.
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Latest work in Monetary Policy
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Nicolas Cachanosky on Dollarization in Argentina
As hyperinflation and other macroeconomic concerns continue plague Argentina, committing to a policy of dollarization may offer a much needed remedy.
- | Monetary Policy Monetary Policy
- | TV Appearance TV Appearance
The Fed’s Decision on Interest Rates | BBC
- | Monetary Policy Monetary Policy
- | Expert Commentary Expert Commentary
Will the Economy Get Better in 2024? | Washington Examiner
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Charlie Evans on the Past, Present, and Future of U.S. Monetary Policy
Heading into the next framework review, policy messaging will be a crucial consideration for the Fed as it considers possible changes to the current FAIT regime.
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Matteo Maggiori and Jesse Schreger on Geoeconomics and its Policy Implications
As geopolitical power struggles continue to unfold across the globe, the burgeoning field of geoeconomics is becoming increasingly crucial as a tool to help understand how nations leverage their economic strength in the political arena.
- | Monetary Policy Monetary Policy
- | Expert Commentary Expert Commentary
Argentina’s Best Hope: Dollarization | City Journal
- | Monetary Policy Monetary Policy
- | Policy Briefs Policy Briefs
The Neutral Level of NGDP and the NGDP Gap: Q3 2023
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Matthew Raskin on Treasury Market Stability, Interest Rates, and the Fed’s Balance Sheet
Increased central clearing and use of the Standing Repo Facility are just a few ways to improve the liquidity and stability of the Treasury market.
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
David Papell on the History, Motivations, and Current Applications of Monetary Policy Rules
Embracing inertial policy rules could have spared the Fed from the errors it committed in the aftermath of the COVID-19 recession.
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Rachel Siegel on the Fed, Commercial Real Estate, and the Economics of the 2024 Election
As inflation and other economic issues top the list of concerns heading into next year’s election, the commercial real estate market remains a major threat to financial and broader macro stability.
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Will Bateman on the History and Evolving Nature of the Fiscal Fed
Contrary to conventional wisdom, the Fed has a long and extensive fiscal history of building, smoothing, and rescuing US Treasury debt markets.
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
PJ Glandon on the State of Macroeconomics: Research and Pedagogy
Quantitative theory-based analysis has begun to take over the field of macroeconomics over the past 40 years, and this is having major impacts on the pedagogic future of the discipline.
- | Monetary Policy Monetary Policy
- | Event Video Event Video
The Legacy of Bennett McCallum and Lessons for Monetary Policy Today
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Ed Nelson on the Life, Work, and Legacy of Bennett McCallum
In addition to being a pioneer and a titan in the fields of macroeconomics and monetary policy, Bennett McCallum was an even better colleague, friend, and husband who has left an illustrious legacy.
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Sam Hammond on AI, Techno-Feudalism, and the Future of the State
As AI technology continues to swiftly develop, the role of government may soon undergo a radical transformation.
- | Monetary Policy Monetary Policy
- | Events Events
The Legacy of Bennett McCallum and Lessons for Monetary Policy Today
National Press Club (Washington, D.C.)
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Marc Goldwein on the US Government Budget: Structure, Challenges, and Reform Strategies
In order to help secure the long-term health of the US economy, policymakers must begin to grapple with the harsh realities of entitlements reform.
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Lev Menand and Josh Younger on *Money and the Public Debt: Treasury Market Liquidity as a Legal Phenomenon*
After its near collapse in March of 2020, robust legal reforms are needed ensure increased liquidity and stability in the Treasury market moving forward.
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Thomas Hoenig on Public Debt Sustainability and the Current State of the US Banking System
As high interest rates continue to persist, a possible collapse of the commercial real estate market may be a stern warning about the health of the US banking system.
- | Monetary Policy Monetary Policy
- | Expert Commentary Expert Commentary
Taking a Close Look at the Economic Situation: September 2023 | Groundbreak Carolinas
Latest work in Monetary Policy
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Nicolas Cachanosky on Dollarization in Argentina
As hyperinflation and other macroeconomic concerns continue plague Argentina, committing to a policy of dollarization may offer a much needed remedy.
- | Monetary Policy Monetary Policy
- | TV Appearance TV Appearance
The Fed’s Decision on Interest Rates | BBC
- | Monetary Policy Monetary Policy
- | Expert Commentary Expert Commentary
Will the Economy Get Better in 2024? | Washington Examiner
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Charlie Evans on the Past, Present, and Future of U.S. Monetary Policy
Heading into the next framework review, policy messaging will be a crucial consideration for the Fed as it considers possible changes to the current FAIT regime.
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Matteo Maggiori and Jesse Schreger on Geoeconomics and its Policy Implications
As geopolitical power struggles continue to unfold across the globe, the burgeoning field of geoeconomics is becoming increasingly crucial as a tool to help understand how nations leverage their economic strength in the political arena.
- | Monetary Policy Monetary Policy
- | Expert Commentary Expert Commentary
Argentina’s Best Hope: Dollarization | City Journal
- | Monetary Policy Monetary Policy
- | Policy Briefs Policy Briefs
The Neutral Level of NGDP and the NGDP Gap: Q3 2023
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Matthew Raskin on Treasury Market Stability, Interest Rates, and the Fed’s Balance Sheet
Increased central clearing and use of the Standing Repo Facility are just a few ways to improve the liquidity and stability of the Treasury market.
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
David Papell on the History, Motivations, and Current Applications of Monetary Policy Rules
Embracing inertial policy rules could have spared the Fed from the errors it committed in the aftermath of the COVID-19 recession.
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Rachel Siegel on the Fed, Commercial Real Estate, and the Economics of the 2024 Election
As inflation and other economic issues top the list of concerns heading into next year’s election, the commercial real estate market remains a major threat to financial and broader macro stability.
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Will Bateman on the History and Evolving Nature of the Fiscal Fed
Contrary to conventional wisdom, the Fed has a long and extensive fiscal history of building, smoothing, and rescuing US Treasury debt markets.
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
PJ Glandon on the State of Macroeconomics: Research and Pedagogy
Quantitative theory-based analysis has begun to take over the field of macroeconomics over the past 40 years, and this is having major impacts on the pedagogic future of the discipline.
- | Monetary Policy Monetary Policy
- | Event Video Event Video
The Legacy of Bennett McCallum and Lessons for Monetary Policy Today
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Ed Nelson on the Life, Work, and Legacy of Bennett McCallum
In addition to being a pioneer and a titan in the fields of macroeconomics and monetary policy, Bennett McCallum was an even better colleague, friend, and husband who has left an illustrious legacy.
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Sam Hammond on AI, Techno-Feudalism, and the Future of the State
As AI technology continues to swiftly develop, the role of government may soon undergo a radical transformation.
- | Monetary Policy Monetary Policy
- | Events Events
The Legacy of Bennett McCallum and Lessons for Monetary Policy Today
National Press Club (Washington, D.C.)
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Marc Goldwein on the US Government Budget: Structure, Challenges, and Reform Strategies
In order to help secure the long-term health of the US economy, policymakers must begin to grapple with the harsh realities of entitlements reform.
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Lev Menand and Josh Younger on *Money and the Public Debt: Treasury Market Liquidity as a Legal Phenomenon*
After its near collapse in March of 2020, robust legal reforms are needed ensure increased liquidity and stability in the Treasury market moving forward.
- | Monetary Policy Monetary Policy
- | Mercatus Original Podcasts Mercatus Original Podcasts
- | Macro Musings Macro Musings
Thomas Hoenig on Public Debt Sustainability and the Current State of the US Banking System
As high interest rates continue to persist, a possible collapse of the commercial real estate market may be a stern warning about the health of the US banking system.
- | Monetary Policy Monetary Policy
- | Expert Commentary Expert Commentary