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Ever since the Federal Reserve was founded in 1913 as a result of upheaval in the wake of the 1907 banking panic, it has depended on the public faith to maintain its legitimacy. Yet throughout history that faith has waxed … Continue reading
While the Fed’s mandates have historically been financial in nature, recently, political/social mandates have also been imposed upon it. One of these is combatting climate change. It’s a puzzle to us how the Fed – which controls a portion of … Continue reading
Since it is political “silly season”, and every politician under the sun is broadcasting plans for programs designed to catch the voter’s eye, we thought it was worth looking at how accurate cost forecasts of these programs are. Large projects … Continue reading