Why the American taxpayer might prefer a large Fed balance sheet

David Andolfatto and Larry White have been having an interesting debate on the public finance case for having a large (or small) Federal R...

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The Fedwire recession

I last wrote about Fedwire data two years ago. Since then, Fedwire has entered into a (nominal) recession. Is this something we need to wor...

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Fedcoin

Recent posts by Adrian Hope Baille and Sina Motamedi have got me thinking again about the idea of the Federal Reserve (or any other centra...

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Fedwire transactions and PT vs PY

Milton Friedman's alleged license plate, showing the equation of exchange The excruciatingly large revisions that U.S. first quarter GDP...

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