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Economics

No Return to the Old Balance Sheet, Fed’s Waller Says

Federal Reserve Governor Christopher Waller recently offered his perspective on the Fed’s balance sheet, which still stands at over $6.6…

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Economics

Wall Street Isn’t Daycare: Interns Meet the Real World

In recent years, a chorus of complaints has emerged from Millennial and Gen-Z interns and junior analysts about the allegedly…

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Economics

China’s Disappearing CEOs and the Flaw of ‘State Capitalism’

Imagine you are working as an investment banker in one of China’s most famous companies. Everything is going well —…

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Economics

Inflation Picked Up in June, as Tariffs Pass Through

President Trump’s tariffs appear to be pushing prices higher. Inflation picked up in June, according to new data from the…

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Economics

Pursuit of Happiness: The Growth of a Radical Idea

The idea that people have an unalienable right to pursue their own happiness is a very radical idea. Prior to…

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Economics

Render Unto Caesar? Even the Pope Faces Confusion Complying with US Taxes

Any practicing Catholic will tell you that Pope Leo XIV answers to a higher power, but none would say that…

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Economics

Fed Holds Rates Steady Amid Political Pressure

Despite mounting pressure from President Trump to cut rates, the Federal Open Market Committee (FOMC) voted yesterday to hold the…

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Economics

Liberal Heritage and ‘Political Philosophy: The Basics’

Political Philosophy: The Basics, by Bas van der Vossen, published in October 2024 by Routledge, is an accessible introduction to…

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Economics

IOUs to Inflation: The Realistic Limits of Magic Money Theory

Recently, a couple of advocates of Modern Monetary Theory (MMT) wrote in The Hill about “Why we should stop worrying…

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Economics

When Doing Nothing Is Doing Harm: Powell’s Misstep on Tariffs and the Neutral Rate

When asked last month at the European Central Bank’s annual forum in Portugal whether the Fed would have cut interest…

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