Scott Sumner replies to Gerald O'Driscoll on asset prices, inflation, and interest rates.
Gerald O'Driscoll doubts that nominal GDP targeting can be enforced. And if it can't, it will fail to check the central bank's power.
Lawrence H. White documents how the Fed erases government debt - at the expense of long-term savers.
The U.S. Federal Reserve marks its 100th anniversary this year. Has it been worth it?
Gerald P. O'Driscoll reviews the history of central banking. He argues decentralized banking is possible, but getting there will be difficult.