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Is Milton Friedman Still Running the Show?– by Dr. Cecil Bohanon and Dr. John Horowitz
- Macroeconomics
May 4, 2026 by christianhartselle
Joe Biden famously said in an April 2020 interview that, if elected President, “Milton Friedman isn’t running the show anymore.” Friedman, a world-class economist, Nobel Prize winner, and free-market advocate, passed away in 2006, years before Biden ran for or assumed the office. Biden, of course, was referring not to the man Friedman, but to the policies Friedman espoused. Interestingly, as an undergraduate student at Stanford University, Donald Trump’s nominee for Federal Reserve Chairman, […]

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W
Why Central Bank Independence Is Key to Controlling Inflation– by Dr. Cecil Bohanon and Dr. John Horowitz
May 4, 2026 by christianhartselle
While monetary policy can influence interest rates, employment, exchange rates, and economic growth, we believe its most fundamental role is managing inflation. To paraphrase Milton Friedman, inflation is always and everywhere a monetary phenomenon. In this view, the responsibility for inflation lies squarely with the central bank, which in the U.S. is the Federal Reserve. […]

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