In the Tradition of Liberty.
In the Tradition of Liberty.
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Thomas Savidge
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Over the course of the twentieth and twenty-first centuries, monetary and fiscal policy in the United States has become increasingly entangled with one another. In 2012, the late Federal Reserve Bank of Philadelphia President and CEO Charles Plosser lamented a “substantial breakdown in the institutional framework and accepted barriers between monetary and fiscal policy” in…
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Outside of some circles of monetary economists, August 15 often passes by unnoticed. It should be remembered because that date commemorates a massive overnight change in US monetary and fiscal policy. Fifty-three years ago, on August 15, 1971, President Nixon announced to the world that “I have directed Secretary Connally to suspend temporarily the convertibility…
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While many Americans are feeling the sting of Tax Day, April 15, that same day another holiday passed with little notice outside of Massachusetts and Maine. Patriots’ Day commemorates the Battle of Lexington and Concord and the start of the American Revolution happened to fall on the same day as the deadline to file income taxes.…