Author Archive: Glenn Reynolds

POLITICS IN THE WEST:

PREFERENCE CASCADE: AMA Now Says ‘Evidence Is Insufficient’ for Trans Surgeries.

And don’t just ask me, ask the originator of the term:

WHEN GET WOKE, GO BROKE MEETS FAFO:

You know, I’d like to feel bad for these people, but most of them would cheer if I lost my job so never mind.

UPDATE:

HOW IT’S DONE:

Example from the master:

THE ENTIRE LEFT IS BASICALLY FAKE:

Related: Antifa, a wholly owned subsidiary of a billionaire.

Also:

INSTITUTIONAL CORRUPTION: How the Fed Politicized Itself—and What a New Chair Can Do to Fix It. How did the Fed politicize itself? Gradually, then all at once.

In September 2022, about a year after Joseph Wang left his job at the Federal Reserve Bank of New York, he came across an odd new research paper from his former employer. Wang had been a senior trader on the Open Market Trading Desk, carrying out the Fed’s monetary policy. In his five years there, the usual Fed research covered
topics like inflation, labor markets, and bank capital. This paper, though, was titled “800,000 Years of Climate Risk.”

“I thought that was very strange,” Wang recalled. “The Fed writing about CO2 concentrations.”

Wang wasn’t the only one to notice what looked like mission creep at the Fed. Just before Thanksgiving in 2021, a tweet from the St. Louis Fed suggested replacing Thanksgiving turkey with “a soybean-based dinner.” The post drew thousands of replies, many of them demanding that the Fed get back in its lane.

Getting the Fed back in its lane is likely one of the toughest tasks ahead for Kevin Warsh, President Donald Trump’s nominee to lead the Fed. If confirmed, Warsh will command an institution that made itself a political
and ideological player during the tenure of outgoing chair Jerome Powell.

That shift matters because economists’ frequent defenses of the principle of Fed autonomy rely on the idea that its leaders are essentially technocrats. In practice, though, the Fed has moved well beyond that model, inserting itself into politically laden policy issues only tenuously connected, if at all, to its mandates of stable prices and low unemployment.

Indeed.

OPEN THREAD: Hump Day.