Archive for January 2024

Of all FOMC votes cast during Paul Volker’s tenure as Chair of the Fed, 10.7% were dissenting. During the Greenspan years, the dissenting vote percentage fell to 4.8%. During Bernanke’s time as Head Fed, dissenting votes were 7%, and during Yellen’s era, dissents remained essentially unchanged at 7.1%. However, since the Powell period began, dissents…

2024 likely won’t be a year of great economic growth because fiscal policy will be increasingly contractionary, savings rates will necessarily stop falling, and bank lending and thus the money supply will continue contracting. Additionally, the interest rate insensitivity exhibited so far by households and businesses in the face of high interest rates works in…