Podcast appearances and mentions of William J Luther

“Rather than consider whether the Fed should stimulate growth, we should recognize that its primary task is to prevent over- and under-production.” ~ William J. Luther

“The Fed increased its federal funds rate target by 50 basis points in May 2022 and looks set to follow with similar rate hikes in June and July. The price level data from April shows no anticipatory effects of the policy.” ~ William J. Luther

The Fed seems resolved to see inflation climb further. I expect FOMC members will revise up their projections of inflation again in June. They should revise their course of action, to bring inflation down as planned, instead.

“Unfortunately for the administration, their politically-convenient supply-side stories explain far too little. Today's inflation is primarily the result of excessive nominal spending, which the Fed could have and should have offset.” ~ William J. Luther

"Fed Chair Jerome Powell's November statement killed the idea that inflation would be transitory. The most recent projections from the FOMC show how deeply that idea has been buried." ~ William J. Luther & Morgan Timmann

"The Fed should acknowledge that the inflation problem is much worse than it thought when it sets its course of action and adjust course accordingly. More likely, it will stay the course—and inflation will continue to outpace its projections." ~ William J. Luther

“I chalk it up to wishful thinking. Fed officials were not yet willing to tighten monetary policy. They hoped inflation would get better on its own. It didn't, and their projections underestimated inflation as a result.” ~ William J. Luther

"Price controls are a bad idea. But support for them appears to be growing. They are a terrible tool for dealing with inflation. They make no effort to reduce nominal spending. And they exacerbate supply constraints." ~ William J. Luther

“At this stage, two things seem pretty clear: Inflation is high and will likely remain above target for a few years. My own view is that the FOMC is painting a rather rosy picture, and that market expectations provide a better guide for estimating inflation.” ~ William J. Luther

“It seems the Fed is not committed to hitting its average inflation target. Inflation will be transitory in the sense that the rate will eventually return to 2 percent. But the price level will likely remain elevated.” ~ William J. Luther

“Powell recommended ditching the term transitory. ‘We tend to use it to mean that it won't leave a permanent mark in the form of higher inflation,' he told the Senate Committee. ‘I think it's probably a good time to retire that word and try to explain more clearly what we mean.'” ~ William J. Luther

Blockchain technology and cryptocurrency have great potential to change how we exchange and store value. Perhaps that's why certain regulators are dying to get control of them. William J. Luther and Nicholas Cachanosky have some powerful historical perspective on what we can learn from cryptocurrencies and the National Bank Act. I know I'm beating the drum pretty hard this week about separation of school and state. There have been a number of well-written essays on the matter and Kent McManigal's latest "Education Must be Separate from State" is worth your time. Now that the current administration is moving ahead with its vaccine mandates for the workforce, a lot of businesses who rejoiced when they secured federal contract work are seeing the downside. Ryan McMaken reminds us that when the feds pay the piper, they get to call the tune. There's propaganda and then there's propaganda aimed at children. One of these strikes me as particularly questionable. If you haven't seen the creepy Pfizer ad telling kids they're superheroes for getting the Covid vax, it's worth a watch. Has there ever been another virus (with a 99.7% survival rate) that has elicited this level of coercion to be vaxxed? I've watched with great interest over the years as activists with a solution in search of a problem has set their sights on Utah's Dixie in an attempt to remove the name. Brad Bennett joins me from the Defending Southwestern Utah Heritage Coalition to discuss the latest developments. Here's a topic to make your mind spin: Could you thrive or even survive without a car? Collette on Frugalite shares some personal experience that demonstrates how resourceful folks can make things work surprisingly well. As an adoptee, National Adoption Month has a special place in my heart. Tammy Brinkerhoff joins me to talk about the resources available for those who choose life. Adoption links: adoptionservices.org (lists agencies, Utah law & other great resources) adoption.com (a robust resource of all things adoption) unitedforadoption.org (supporting ethical adoption-all facets of adoption) searchangels.org (help finding birth family) www.thebryanhydeshow.com --- Support this podcast: https://anchor.fm/loving-liberty/support

Blockchain technology and cryptocurrency have great potential to change how we exchange and store value. Perhaps that's why certain regulators are dying to get control of them. William J. Luther and Nicholas Cachanosky have some powerful historical perspective on what we can learn from cryptocurrencies and the National Bank Act. I know I'm beating the drum pretty hard this week about separation of school and state. There have been a number of well-written essays on the matter and Kent McManigal's latest "Education Must be Separate from State" is worth your time. Now that the current administration is moving ahead with its vaccine mandates for the workforce, a lot of businesses who rejoiced when they secured federal contract work are seeing the downside. Ryan McMaken reminds us that when the feds pay the piper, they get to call the tune. There's propaganda and then there's propaganda aimed at children. One of these strikes me as particularly questionable. If you haven't seen the creepy Pfizer ad telling kids they're superheroes for getting the Covid vax, it's worth a watch. Has there ever been another virus (with a 99.7% survival rate) that has elicited this level of coercion to be vaxxed? Feel free to show some love to my sponsors: Monticello College Lifesaving Food (use the coupon code "HYDE" at checkout for a 20% discount) The Heather Turner Team at Patriot Home Mortgage Govern Your Income Solar Patriots

“Those denying any risk that inflation will remain above target or confidently predicting that 4 percent inflation will be the new normal, are not within the range of reasonable. They are rightly ridiculed.” ~ William J. Luther

“Having persistently undershot its inflation target for nearly a decade, the Fed now looks poised to err in the opposite direction.” ~ William J. Luther

Perhaps these trends will reverse. But it seems more likely that the reports of the forthcoming death of cash have been greatly exaggerated––that is, so long as the government doesn't kill it.

Cryptocurrencies have the potential to improve upon both commodity and fiat monies. If designed properly, a cryptocurrency would anchor long-run expectations and provide timely supply adjustments at a lower cost than commodity and fiat monies.

While we're all busy fighting about masks and such, another bipartisan spending frenzy is about to kick off in Congress. Veronique de Rugy advises that we brace ourselves. Our collision with fiscal reality is imminent. You've likely seen the signs going up at various retail businesses: Please use exact change or be willing to round up for your purchase. Word on the street is that there's a coin shortage. William J. Luther asks, "Where have all the coins gone?" How bad would things have to get before you'd consider voting with your feet and leaving your current state of residence? That's a question each of us must answer for ourselves but it's clear that, for many folks, the threshold has been reached. Meanwhile, major tax increases are coming at virtually every level. The woke revolution makes for some interesting reading in your daily news feed but don't dismiss it as so much intellectual posturing between elitists. As Paul Craig Roberts explains, our personal free speech and freedom of conscience are on the line. --- Support this podcast: https://anchor.fm/loving-liberty/support

This is the spoken edition of the American Institute for Economic Research for January 15, 2020. A longer text version is hosted at AIER.org, along with many other articles. The Effect of Data Lags on Monetary Policy By William J. Luther Advanced, money-using economies occasionally encounter temporary periods of underproduction, where resources are not sufficiently utilized and some workers are rendered unemployed.

There are several arguments for regulating bitcoin, but they need to face basic scrutiny. William J. Luther evaluates the claims. See acast.com/privacy for privacy and opt-out information.