William J. Luther Profile picture
Assistant Professor of Economics at @FloridaAtlantic | Director at @SoundMoneyProj | Adjunct Scholar at @CatoCMFA
2 Jun
In a forthcoming article at @CatoInstitute, written for the annual monetary conference held last November, @CharlesPlosser writes: "In adopting a framework where a large volume of excess reserves becomes a standing feature of the operating regime, the Fed is ..." 1/n
"...opening the door to political interference and threats to its independence. Once the demand for reserves is satiated, there is no limit, in principle, to how big the balance sheet or volume of reserves can be. ..." 2/n
"...A large balance sheet unconstrained by monetary policy is ripe for abuse. Congress and an administration would be tempted to look to the balance sheet for their own purposes, including credit policy and off-budget fiscal policy." 3/n
Read 10 tweets
5 Dec 18
I was a bit annoyed when the tech from @Xfinity called, two minutes before the scheduled window ended, to tell me they were running late. (I worked from home this AM to let them in and planned to go to the office after they finished... But nope.) @comcastcares
I get it. It happens. A job took a little longer than you thought. You're finishing up. You're 30 miles away. I'll see you when you get here. Thanks for calling. @comcastcares
But then they never came. I waited. And waited. And waited some more. No tech. No call. Nothing. @comcastcares
Read 36 tweets