“Crises end, but newly designated powers and increased budgets governments receive throughout seldom end with them. Instead, government power exhibits a ratchet effect, never diminishing to pre-crisis levels.” ~ Raymond J. March

"On February 1st 2022 the US national debt surpassed $30 Trillion for the first time - just as the Fed is preparing a hiking campaign. Political decisions to trade the future for the present tempt further assaults upon the ever-declining soundness of the US dollar." ~ Peter C. Earle

"The Fed already lost credibility by missing its stated inflation target, and the nomination of partisan actors such as Cook would further throttle its credibility. " ~ Phillip W. Magness & David Waugh

"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

“Only a monetary policy geared to reduce inflation will be effective in reducing inflation. This is as true now as when the Federal Reserve lowered inflation in the early 1980s.” ~ Gerald P. Dwyer

“The answer to a stalled agenda isn’t tearing up the rule book and drawing a new one that suits you better. The answer is better policy. It’s not easy, but that’s the job Biden set out to do.” ~ Dan K. Eberhart

“The urgency to correct the country’s large public finances is likely to be heightened by a further widening in the trade deficit in 2022 as the consequence of a stronger dollar and the relative strength of the U.S. economy.” ~ Desmond Lachman

“New-home sales rose in December, but prices plunged, and months’ supply remains relatively high. Rising prices, higher mortgage rates, and continued inventory build may continue to weigh on price increases.” ~ Robert Hughes

“Words mean different things to different people, and their meanings change over time. How we define inflation is a matter of choice, but we must also recognize that choice reflects more fundamental beliefs about how the economy functions.” ~ Michael J. Douma