• Post

    The Fed Is Not All-Knowing, But The Market Is

    This week, Dr. Roy Cordato wrote a research brief for the John Locke Foundation on the Federal Reserve. In it, Dr. Cordato explains the Federal Reserve plays a central role in the economy – namely setting the Federal Funds rate and the discount rate. Cordato explains: [T]he Federal Funds Rate…
    Brenee Goforth, December 2, 2019
  • Post

    Givers surprised their giving goes to their foes

    The Robin Hood Foundation receives from the rich–mostly hedge fund managers–to give to organizations that help the poor in New York City, where most of its donors live and work. It sounds like a great thing, but some of Robin Hood’s grants go to groups that oppose hedge…
    Joseph Coletti, May 15, 2018
  • Post

    Legislation not needed: Payday Lending edition

    An essay in today’s Wall Street Journal (subscription) provides a summary of two alternatives to payday loans that employers can provide to low wage workers with repayment taken directly from their paychecks. Benefit for employers is reduced turnover. Mixed blessing for employees provides a distinct advantage to big employers who…
    Joseph Coletti, May 14, 2018
  • Post

    Podcasts worth listening to this week

    Some great conversations made my time in the car much better this week Steven Teles is one of the most insightful people writing about conservatism and government, from the Federalist Society to the kludgy way government has evolved. He’s a liberal working with libertarians at the Niskanen…
    Joseph Coletti, April 19, 2018
  • Post

    Maybe the ratings agencies weren’t to blame for the Great Recession

    The Big Short, ironically, opens with an apocryphal Mark Twain epigraph: “It ain’t what you know that gets you in trouble, it’s what you know for sure that just ain’t so” Thanks to Michael Lewis and Christian Bale, we all know that ratings agencies got mortgage-backed securities wrong and…
    Joseph Coletti, April 17, 2018
  • Post

    Doing less to achieve more in Charlotte

    Bank of America CEO Brian Moynihan told Charlotte business leaders “we have a duty” to improve economic mobility. But the “21 key strategies, 91 recommendations, and over 100 implementation tactics and policy considerations” proposed by a Task Force earlier this year leave too many barriers to mobility in place. I…
    Joseph Coletti, December 13, 2017
  • Post

    Regulation is killing small banks

    Ellen Brown advocates for states to create government banks like North Dakota has. Her latest article appears on the progressive website Truthout, where it runs alongside a sympathetic interview with Noam Chomsky and pro-Communist essays. But she quotes Rep. Jeb Hensarling approvingly and the title of this post…
    Joseph Coletti, November 3, 2017
  • Post

    House tax plan might “cut cut cut cut cut” stadium deals

    It didn’t grab headlines, but the House tax reform plan due out today includes a nugget free-marketeers should find encouraging. From the Wall Street Journal (behind the paywall): Tax-exempt bonds could no longer be used to build professional sports stadiums. That’s right. One major tool attracting public subsidies for…
    Rick Henderson, November 2, 2017