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"The Bureau of Labor Statistics (BLS) recently released price index data for June. Unfortunately, tariff defenders are drawing incorrect conclusions from this data." cato.org/blog/june-bls-…

Inside beltway thinking--first line in recent Urban Institute report: SNAP is "the most effective defense against hunger in the country." What about markets, which miraculously distribute $2 trillion in food each year to 1 million food stores and restaurants across our vast land?

🧵 This week’s Debt Digest: • Congress passes a $9 billion rescissions package • More senior tax breaks = more political handouts • Why the Fed needs a rules-based approach • The CIA’s VC firm • More subsidies won’t solve America’s housing affordability problem 👇

.Jai Kedia says the Fed should adopt a rules-based approach—not rely on discretionary decision-making. In such a system, the Fed would follow a publicly known formula to set the federal-funds rate, with flexibility to adjust to exigent circumstances.

The market should decide, not Comrade Kirk.

We recorded this video a couple of days ago and decided against talking about all the ridiculous insults and calls to resign being thrown at Jerome Powell. With the escalation today, maybe we should have discussed the ridiculousness. cato.org/multimedia/cat… via Cato Institute

Fifteen Years of Dodd-Frank: A Legacy of Missed Targets and Regulatory Overreach cato.org/blog/dodd-fran… via Cato Institute

Medicare and Medicaid fail a basic scientific test. The programs don’t do what they claim to. If they were drugs, regulators would pull them from the market, writes Michael F. Cannon 🇮🇪🇺🇸 on.wsj.com/44Mdk2N

My latest paper digs into the CBDC experience in the Caribbean. Perhaps shocking no one, much of the CBDC use is built on government activity. 🧵 cato.org/briefing-paper…

"Fifteen years on, the [Dodd-Frank] Act stands not as a triumph of reform but as a case study in how sweeping legislation can miss the mark—and make future crises more likely, not less." - Norbert J. Michel Read the Cato CMFA article here: cato.org/blog/dodd-fran…

An Updated Interview with George Selgin on Free Banking and Bitcoin cato.org/blog/updated-i… via Cato Institute

It's not clear if the President has the legal authority to fire the Fed chair. But even if Jerome Powell was replaced, the chair alone does not make rate decisions. Listen to @NorbertJMichel & Jai Kedia break it down here🔽

This Week Cato CMFA! -------------------- Blogs & Papers: - Fifteen Years of Dodd-Frank: A Legacy of Missed Targets and Regulatory Overreach - @NorbertJMichel buff.ly/sHTwBwv - CBDC Lessons from the Caribbean: Analyzing Central Bank Digital Currency Adoption in Jamaica

From Basel To Baffling: It’s Time To Simplify Bank Capital Rules via @forbes forbes.com/sites/norbertm…

Higher capital requirements are costly, can create perverse incentives, and do not automatically stabilize the financial system or prevent government bailouts. It’s easy to forget, but U.S. commercial banks exceeded their minimum capital requirements by 2 to 3 percentage points

Presidential overreach into monetary policy always ends one way, no improvement to the real lives of Americans and much higher inflation, Cato Institute's Jai Kedia told Amy Lu Hearst Television. "We could be heading towards very dangerous territory." wcvb.com/article/federa…

"Banks do not want to fail, members of Congress will always want political cover for providing bailouts, and capital requirements will never guarantee financial stability." @NorbertJMichel via @forbes buff.ly/qG707lL