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Main Thursday, August 28, 2025Central Bank IndependenceSince that’s an issue in the news, I want to make a couple of general observations. They point in the same direction, which is that the idea that our central bank is independent evolved…

Main Monday, August 25, 2025Nixon’s the One!In terms of executive power, we are basically back where we were in the early 1970s. It’s as if Watergate never happened. For example:

  • The Administration claims that it can impose tariffs unilaterally. What
  • …