News

The Fed Has Too Much to Do

Peter J. Wallison on August 19, 2019

The Federal Reserve announced earlier this month that it will launch a real-time payment service called “FedNow” sometime in the next five years. The move demonstrates that the independent central bank, already one of the most unaccountable agencies in the federal government, is accumulating too much power. In recent years the Fed has fended off several efforts to determine whether its expenditures—which aren’t appropriated by Congress—are consistent with policies that the American people and their representatives want the central bank to pursue…

Should The FDA Regulate Al?

Charles Aunger on April 02, 2019.

On April 2, 2019, outgoing U.S. Food and Drug Administration (FDA) Commissioner Scott Gottlieb released the Proposed Regulatory Framework for Modifications to Artificial Intelligence/Machine Learning (AI/ML)-Based Software as a Medical Device (SaMD) and stated the agency’s intent is “to apply our current authorities in new ways to keep up with the rapid pace of innovation.”…

America’s Weak-Beer Wars

C. Jarrett Dieterle on August 12, 2019.

As any astute beer shopper can attest, alcohol retailers’ shelves these days are loaded with a wide array of innovative craft brews. These beers are not just diverse in terms of style, but increasingly they are diverse because of their alcohol content. Several years ago, the alcohol levels in beer began rising as American drinkers became obsessed with high-octane brews. While this trend continues apace, there has also been a recent rise in lower-alcohol suds in taprooms as brewers experiment with new varieties…

Helping small businesses, working owners save for retirement by cutting red tape

Preston Rutledge on August 02, 2019.

Americans are concerned about their ability to save for retirement. We hear this every day from our friends and family, and it continues to rank near the top of Americans’ economic concerns in survey after survey. These concerns are real. Many financial advisers say you will need about 70 percent of preretirement income to live comfortably in retirement. That income includes Social Security benefits, investments and other personal savings. We know that the best way to help Americans meet this goal is to expand opportunities for employment-based savings…

Regulatory compliance takes out-sized share of their time and money, business people say

Randy Krehbiel on July 22, 2019

Stigler banker Christopher Jordan summed up the impact federal regulations have had on his business with a simple example…

The Conservative Case for Clean Air Regulations

Karl W. Smith on August 14, 2019.

Skepticism of government regulation is one of the main tenets of economic conservatism, and for the most part is it justified. In one area, however, conservatives need to rethink their position: New research shows that air pollution is much deadlier than previously realized, so they should support greater government efforts to reduce it…

A tool meant to help minorities buy homes is instead speeding up gentrification in D.C.

Diego Zuluaga on August 09, 2019.

More than 50 years after the passage of comprehensive anti-discrimination legislation, American cities remain highly segregated. The nation’s capital is a glaring example: The D.C. area’s African American residents are concentrated in the Northwest D.C. neighborhoods of Brightwood, 16th Street Heights and Petworth — and, above all, in Northeast D.C. and east of the Anacostia River, where 25 census tracts (the U.S. Census Bureau’s geographic subdivisions) have African American population shares exceeding 90 percent…

Keep courts off of the climate policy playground

Donald Kochan on August 13, 2019.

Cute kids and climate change make for compelling headlines. But the case of Juliana v. United States is a little too cute for the Constitution and a whole lot too complex for the courts…

Government regulation of social media would kill the internet — and free speech

Daniel Ortner on August 12, 2019.

Social media companies have been criticized for disproportionately restricting content that offends political progressives. For example, a Pinterest insider recently leaked documents showing that the platform censors pro-life speech as “pornography.” Popular “classical liberal” YouTuber Dave Rubin has complained that his videos are flagged and discriminated against because of alleged “right-wing” content. And Twitter got into hot water last week for suspending the campaign account of Senate Majority Leader Mitch McConnell (R-Ky.) for posting a video of angry protestors assembling outside the senator’s home…

Railroads, Like the Economy, Need Greater Certainty

Ian Jefferies on August 01, 2019

Things are not always as they appear.

Indeed, news reports and economic analysis such as a new IMF report indicate underlying softness in an otherwise strong economy marked by low unemployment and high consumer confidence…