The Fed and the Debt Limit

What's the matter with a temporary delay in paying interest and principal on debt, if the debt limit hits? Collateral. Financial institu...

A fiscal theory fest at AEI, launch podcast, and official release.

Mark your calendars! February 28th 3:00 PM eastern the AEI's Michael Strain will host a zoom event on Fiscal Theory of the Price Level...

Two points on the debt limit, 1 serious 1 fun

Everyone keeps repeating that hitting the debt limit would necessitate a default on principal and interest. The Treasury itself says   Fai...

Waning inflation, supply and demand.

  Source here .  Inflation seems to be waning. The conventional change from a year ago:  The month to month changes now suddenly more ...

Cheers for Powell

 Jay Powell's Stockholm speech lays it out with Gettysburg address clarity and brevity. Relative to usual central-bankerese it's so...

Strassel insight, and cheers for a long speaker tussle

I'm a policy wonk, but I care very little about politics, who is up and who is down. The house speaker voting coverage has been largely ...

Fun Fisherian Graph

In working on a revision to fiscal theory of the price level chapter 5 on sticky price models, and a revision of " Expectations and th...