Two Myths about Central Banking
Fergus Hodgson, January 16, 2020 
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The mainstream media and investors alike routinely attribute powers to the Federal Reserve that bear little resemblance to reality.
Scott Sumner, an economics professor and researcher with George Mason University’s Mercatus Center, dispels two common myths: that low interest rates always mean easy money and that the Fed directly controls interest rates.
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Furthermore, he argues current monetary policy should move away from its focus on inflation and instead adopt a market-driven approach: nominal GDP targeting.
This week in our Discovery Group segment, Tom Martin, director of Corporate Development with Ethos Gold (TSX: ECC), offers updates on the firm’s Quebec and British Columbia projects.
Recommended Links
- Connect with Scott through his blog and read his work at the Mercatus Center.
- “Fed’s Kaplan Worries Investors Got Green Light to Take More Risk,” MarketWatch.
- “Should the Fed Pay Interest on Bank Reserves?” Mercatus Center.
- “The Case for Nominal GDP Targeting,” Mercatus Center.
If You Liked This Episode
- “How the Fed’s Low Rates Became an Addiction,” Gold Newsletter Podcast.
- “Peter Boockvar: The Fed Has Overdosed on Social Justice,” Gold Newsletter Podcast.
- “Make the Fed Have One Job Again,” Gold Newsletter Podcast.
- “Ex-Federal Reserve Insider Speaks Out,” Gold Newsletter Podcast.
Fergus Hodgson is Gold Newsletter’s roving editor. Follow him on Twitter and Facebook.
