Canadian central bank chief Mark Carney, who will become governor of the Bank of England in June, caused a stir on both sides of the Atlantic when he appeared to endorse a new monetary policy based on nominal gross domestic product (NGDP) targeting. A fresh approach to the current policy, which has manifestly failed to guarantee macroeconomic stability, is certainly long overdue. But could NGDP targeting have really prevented the financial meltdown and the ensuing recession as its advocates claim? Unlikely, says Tom Clougherty. Central banks lack both the power and the knowledge needed to deliver stable economic growth.
The Eighth Amendment prohibition against excessive fines and fees applies to states as well, SCOTUS rules, opening a new way to challenge outlandish forfeitures.
California Tried To Fine a Company $10,000 for Ordering Blind People Ubers and Lyfts Without a Permit
GoGo Grandparent gives people without smartphones a way to use rideshare services. Regulators think that's a problem.
You might want to think twice about putting that new gun on your credit card.
The Justice Department says Dennis Tuttle and Rhogena Nicholas were killed in an operation based on a fraudulent warrant triggered by a false report to police.
The senator from Massachusetts thinks more Americans should join the military. Why?