Starting in January of 1967, Rothbard churned out fifty-eight columns, the last one written in the summer of 1968. In those two crucial years, there was, as they say, never a dull moment.
Narrated by Jim Vann.
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The Fed Hits the Panic Button and Slashes the Fed Funds Rate
2024-09-18
The Federal Reserve’s FOMC slashed the target federal funds rate at its meeting this month, reducing the target rate by 50 basis points from 5.5 percent to 5.0 percent. This was the largest cut to the target rate since March of 2020 in the midst of the Covid Panic. This cut comes after fourteen months of the FOMC holding the target rate at 5.5 percent. In late 2022, the FOMC was forced to allow interest rates to rise in response to mounting price inflation which hit a year-over-year growth rate of 8.9 percent in June 2022. Since the official CPI inflation rate fell back below five percent in Spring of 2023, however, there has been continuing speculation about a “Fed pivot” in which the Fed will once again begin a cycle of cuts to the target interest rate. This pivot finally came today, and
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