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John  B. Taylor

John B. Taylor

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John B. Taylor, a former under-secretary of the US Treasury (2001-05), is Professor of Economics at Stanford University and a senior fellow at the Hoover Institution. He is the author of Global Financial Warriors and co-author (with George P. Shultz) of Choose Economic Freedom.

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  1. The Fed’s State of Exception
    taylor16_OLIVIER DOULIERYAFP via Getty Images_fed reserve flag OLIVIER DOULIERYAFP via Getty Images

    The Fed’s State of Exception

    Aug 12, 2021 John B. Taylor warns that the central bank’s deviation from monetary-policy rules can’t last indefinitely.

  2. Is the Fed Getting Burned Again?
    taylor15_Brooks KraftGetty Images_fed reserve Brooks Kraft/ Getty Images

    Is the Fed Getting Burned Again?

    Jun 25, 2021 John B. Taylor worries that monetary policymakers have forgotten the lessons of the 1970s and 1980s.

  3. The Stimulus Didn’t Work, Again
    taylor14_JJ GouinGetty Images_UScovidstimuluscheck JJ Gouin/Getty Images

    The Stimulus Didn’t Work, Again

    Jun 2, 2021 John B. Taylor shows that a year of economic impact payments had no meaningful impact on household consumption.

  4. America’s Excessive Government Spending Must Stop
    shultz2_Liu JieXinhua via Getty Images_federal reserve Liu Jie/Xinhua via Getty Images

    America’s Excessive Government Spending Must Stop

    Feb 23, 2021 George P. Shultz, et al. argue that US policymakers' fiscal recklessness is creating grave economic and national-security risks.

  5. The Stampede from Silicon Valley
    taylor13_Smith CollectionGadoGetty Images_zoom hq Smith Collection/Gado/Getty Images

    The Stampede from Silicon Valley

    Dec 28, 2020 John B. Taylor explains how California policymakers can reverse the growing stampede of tech firms out of the state.

  1. pisaniferry143_FABRICE COFFRINIAFP via Getty Images_johnkerrychina Fabrice Coffrini/AFP via Getty Images

    Can “Cooperative Rivalry” Work?

    Jean Pisani-Ferry worries that America and China will be unable to find common ground on preserving the global commons.
  2. rajan82_BRENDAN SMIALOWSKIPOOLAFP via Getty Images_jeromepowell Brendan Smialowski/Pool/AFP via Getty Images

    The Fed’s Role in the Bank Failures

    Raghuram G. Rajan & Viral V. Acharya

    There are four reasons to worry that the latest banking crisis could be systemic. For many years, periodic bouts of quantitative easing have expanded bank balance sheets and stuffed them with more uninsured deposits, making the banks increasingly vulnerable to changes in monetary policy and financial conditions.

    show how the US central bank's liquidity policies created the conditions for runs on uninsured deposits.
  3. velasco135_Nancy LaneMediaNews GroupBoston Herald via Getty Images_bank run Nancy Lane/MediaNews Group/Boston Herald via Getty Images

    Policymakers Keep Solving the Wrong Banking Problem

    Andrés Velasco

    When a bank fails, the first response by policymakers and the public is to blame risk-loving speculators, greedy investors, or regulators asleep at the wheel. But quenching our thirst for moral adjudication is a poor basis for policy, because the truth is both simpler and more troubling.

    argues that recent market turmoil has revealed that the sector’s main vulnerability is unavoidable.
  4. ito25_Chip SomodevillaGetty Images_yellen Chip Somodevilla/Getty Images

    An Insolvency Iceberg?

    Takatoshi Ito considers the risk that other banks will experience liquidity problems as interest rates continue to rise.
  5. skidelsky185_Wiktor SzymanowiczAnadolu Agency via Getty Images_jeremyhunt Wiktor Szymanowicz/Anadolu Agency via Getty Images

    Can Governments Still Steer the Economy?

    Robert Skidelsky explains why international finance and geopolitics make it harder to influence major performance indicators.
  6. sinn109_ DANIEL ROLANDAFP via Getty Images_financial crisis DANIEL ROLAND/AFP via Getty Images

    Accounting for Casino Capitalism

    Hans-Werner Sinn draws parallels between recent bank collapses and the late-nineteenth-century “founders’ crash.”
  7. zadek25_ FABRICE COFFRINIAFP via Getty Images_creditsuisseUBS Fabrice Coffrini/AFP via Getty Images

    Who Should Be Bailed Out Next?

    Simon Zadek urges rich-country governments to aid debt-distressed poor countries as urgently as they have their failing banks.
  8. callegari1_Getty Images_crowd population Getty Images

    The Population Boon

    Beniamino Callegari & Per Espen Stoknes correct popular myths about the threat of demographic growth to sustainable development.
  9. songwe8_NIPAH DENNISAFP via Getty Images_ghana NIPAH DENNIS/AFP via Getty Images

    Where Is the Global South’s Rescue Brigade?

    Vera Songwe decries the unequal responses to liquidity crises in Silicon Valley compared to the developing world.

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