“To these free-market economists, government intrusion ultimately sows the seeds of the next crisis. It hampers what one famous Austrian, Joseph Schumpeter, called the process of “creative destruction.” Governments that spend money they don’t have to cushion downturns, they say,...

“The Federal Reserve has asked a U.S. appeals court to stay a ruling that it must disclose documents regarding borrowing from its discount window and other “last resort” lending programs during the financial crisis. “The stay is necessary to permit the board to consult with the Department...

A policy of low interest rates is a textbook response of monetary authorities to the economic weakness brought on by deficient aggregate demand. The policy is justified by pointing to various ways in which money can promote economic activity—including by stimulating investment, discouraging savings,...

“The Fed’s commitment to maintaining liquidity and its deteriorating growth outlook are broadly speaking bullish for gold,” said Standard Bank analyst Leon Westgate. Gold is often seen as a stronger store of value than equities and other commodities in times of economic uncertainty,...

“The prevailing view among economists, policy makers and Federal Reserve Board governors is that a zero or near-zero short-term interest rate stimulates the economy—the lower the rate, the better. It is time to re-examine this conventional wisdom. In fact, lowering interest rates too much may...