Peter's Blog

Why Price Stability Is a Dangerous Illusion

One of the long-touted goals of central banking is “price stability,” which, in the minds of central bankers, means low and continuous inflation. Even if this goal wasn’t cover for inflationist policy, it’d still be important to note that “price stability” is actually an unachievable goal when properly understood.

13-Week Money Supply Growth Accelerates, Bucking Seasonal Trends

Money Supply is a very important indicator. It helps show how tight or loose current monetary conditions are regardless of what the Fed is doing with interest rates. Even if the Fed is tight, if Money Supply is increasing, it has an inflationary effect.

Why the Money Supply Should Stay Fixed

Much of the current regime is predicated on the notion that ivory tower intellectuals are capable of determining and controlling the “optimal money supply.” In reality, this is preposterous. All the Fed’s tinkering accomplishes is cultural decline, rising prices, and misplaced anger at the private businesses that serve the economy.

M2 Money Supply Grows by Most in 2 Years

Money Supply is a very important indicator. It helps show how tight or loose current monetary conditions are regardless of what the Fed is doing with interest rates. Even if the Fed is tight, if Money Supply is increasing, it has an inflationary effect.

13-Week Money Supply Growth Continues to Decelerate

Money Supply is a very important indicator. It helps show how tight or loose current monetary conditions are regardless of what the Fed is doing with interest rates. Even if the Fed is tight, if Money Supply is increasing, it has an inflationary effect.

The Fed’s April Fool’s: Pretending to Control Inflation

This year’s April Fools joke from the Federal Reserve is the same this year as every other:  Pretending that a small group of unelected academics can micromanage the economy to create an ideal balance between employment, inflation, and cost of borrowing. The Fed wants to control the economy, but all it achieves is distortion. And […]

Is US Debt the Catalyst for an Economic Crisis?

As the stock market slumps and the economy shows signs of recession, the Trump administration is preparing for an economic detox. But just how did the economy get here? What drives the business cycle?

M2 Grows for a 16th Straight Month

Money Supply is a very important indicator. It helps show how tight or loose current monetary conditions are regardless of what the Fed is doing with interest rates. Even if the Fed is tight, if Money Supply is increasing, it has an inflationary effect.

Has Slowing Money Supply Growth Led to a Directionless Stock Market?

Money Supply is a very important indicator. It helps show how tight or loose current monetary conditions are regardless of what the Fed is doing with interest rates. Even if the Fed is tight, if Money Supply is increasing, it has an inflationary effect.

Even the NYT Is Saying, “Buy Gold”

A recent piece in the New York Times encouraged readers to buy gold, noting its record-breaking run since 2020. However, what the article gets wrong is associating the phenomenon with presidential policies instead of central bank monetary policy. Treasury policies can contribute to money supply growth by issuing debt, and presidential policies can add fuel […]