News, views, and commentary from a free market point of view. I moved from Blogger to Substack in December 2023. For previous posts back... This is an automated Substack Account of https://johnhcochrane.substack.com Discover more/Create at: @skystack.xyzhttps://bsky.app/profile/johnhcochrane.skystack.xyzhttps://bsky.app/profile/johnhcochrane.skystack.xyz/post/3mmce6mobnk2sWarsh's Challenges: Monetary Policy https://www.grumpy-economist.com/p/warshs-challenges-monetary-policy-73020 May 2026 14:38 +0000at://did:plc:dt2jrk3eucgvhq7e6g4septa/app.bsky.feed.post/3mmce6mobnk2shttps://bsky.app/profile/johnhcochrane.skystack.xyz/post/3mmarukf5dk2sTwo books https://www.grumpy-economist.com/p/two-books19 May 2026 23:10 +0000at://did:plc:dt2jrk3eucgvhq7e6g4septa/app.bsky.feed.post/3mmarukf5dk2shttps://bsky.app/profile/johnhcochrane.skystack.xyz/post/3mm42yakct22sHas the Time Come for Dollarization in the Americas? https://www.grumpy-economist.com/p/has-the-time-come-for-dollarization17 May 2026 21:36 +0000at://did:plc:dt2jrk3eucgvhq7e6g4septa/app.bsky.feed.post/3mm42yakct22shttps://bsky.app/profile/johnhcochrane.skystack.xyz/post/3mlby3ixwis2sBook Sale https://www.grumpy-economist.com/p/book-sale07 May 2026 17:55 +0000at://did:plc:dt2jrk3eucgvhq7e6g4septa/app.bsky.feed.post/3mlby3ixwis2shttps://bsky.app/profile/johnhcochrane.skystack.xyz/post/3mksb4zrfr22nThe Iran War Doesn’t Have to Be a Rerun of ‘That ’70s Show’ • Rising energy prices turn into recessions only if bad government policies compound their effects https://www.grumpy-economist.com/p/the-iran-war-doesnt-have-to-be-a01 May 2026 13:00 +0000at://did:plc:dt2jrk3eucgvhq7e6g4septa/app.bsky.feed.post/3mksb4zrfr22nhttps://bsky.app/profile/johnhcochrane.skystack.xyz/post/3mknucwa2fs2nInside the Fed's Balance Sheet https://www.grumpy-economist.com/p/inside-the-feds-balance-sheet29 Apr 2026 16:58 +0000at://did:plc:dt2jrk3eucgvhq7e6g4septa/app.bsky.feed.post/3mknucwa2fs2nhttps://bsky.app/profile/johnhcochrane.skystack.xyz/post/3micqfc4ibc2xWar and Interest Rates https://www.grumpy-economist.com/p/war-and-interest-rates30 Mar 2026 22:04 +0000at://did:plc:dt2jrk3eucgvhq7e6g4septa/app.bsky.feed.post/3micqfc4ibc2xhttps://bsky.app/profile/johnhcochrane.skystack.xyz/post/3mhpwctc6h22xHow to turn a price shock into inflation https://www.grumpy-economist.com/p/how-to-turn-a-price-shock-into-inflation19 Mar 2026 15:00 +0000at://did:plc:dt2jrk3eucgvhq7e6g4septa/app.bsky.feed.post/3mhpwctc6h22xhttps://bsky.app/profile/johnhcochrane.skystack.xyz/post/3mhcol4bkns2zSmith and Jefferson at 250 https://www.grumpy-economist.com/p/smith-and-jefferson-at-25017 Mar 2026 13:03 +0000at://did:plc:dt2jrk3eucgvhq7e6g4septa/app.bsky.feed.post/3mhcol4bkns2zhttps://bsky.app/profile/johnhcochrane.skystack.xyz/post/3mhcol4h7d22zWar and Oil https://www.grumpy-economist.com/p/war-and-oil15 Mar 2026 15:54 +0000at://did:plc:dt2jrk3eucgvhq7e6g4septa/app.bsky.feed.post/3mhcol4h7d22zhttps://bsky.app/profile/johnhcochrane.skystack.xyz/post/3mg2qwygquc2rEFG Review https://www.grumpy-economist.com/p/efg-review02 Mar 2026 04:54 +0000at://did:plc:dt2jrk3eucgvhq7e6g4septa/app.bsky.feed.post/3mg2qwygquc2rhttps://bsky.app/profile/johnhcochrane.skystack.xyz/post/3mfqf3fq5yc2rDoes History Rhyme? https://www.grumpy-economist.com/p/does-history-rhyme26 Feb 2026 03:13 +0000at://did:plc:dt2jrk3eucgvhq7e6g4septa/app.bsky.feed.post/3mfqf3fq5yc2rhttps://bsky.app/profile/johnhcochrane.skystack.xyz/post/3mfnkkevkw22rRefine https://www.grumpy-economist.com/p/refine24 Feb 2026 23:21 +0000at://did:plc:dt2jrk3eucgvhq7e6g4septa/app.bsky.feed.post/3mfnkkevkw22rhttps://bsky.app/profile/johnhcochrane.skystack.xyz/post/3mf3d44peps2rA new Fed-Treasury Accord? https://www.grumpy-economist.com/p/a-new-fed-treasury-accord17 Feb 2026 16:44 +0000at://did:plc:dt2jrk3eucgvhq7e6g4septa/app.bsky.feed.post/3mf3d44peps2rhttps://bsky.app/profile/johnhcochrane.skystack.xyz/post/3meyslv2epk2r1951 https://www.grumpy-economist.com/p/195116 Feb 2026 19:37 +0000at://did:plc:dt2jrk3eucgvhq7e6g4septa/app.bsky.feed.post/3meyslv2epk2rhttps://bsky.app/profile/johnhcochrane.skystack.xyz/post/3mepp6gbic22rInflation https://www.grumpy-economist.com/p/inflation13 Feb 2026 04:28 +0000at://did:plc:dt2jrk3eucgvhq7e6g4septa/app.bsky.feed.post/3mepp6gbic22rhttps://bsky.app/profile/johnhcochrane.skystack.xyz/post/3meoglzdvns2rBig Picture Asset Pricing https://www.grumpy-economist.com/p/big-picture-asset-pricing12 Feb 2026 16:15 +0000at://did:plc:dt2jrk3eucgvhq7e6g4septa/app.bsky.feed.post/3meoglzdvns2rhttps://bsky.app/profile/johnhcochrane.skystack.xyz/post/3melwihfmw22rMisplaced Nostalgia https://www.grumpy-economist.com/p/misplaced-nostalgia11 Feb 2026 16:16 +0000at://did:plc:dt2jrk3eucgvhq7e6g4septa/app.bsky.feed.post/3melwihfmw22rhttps://bsky.app/profile/johnhcochrane.skystack.xyz/post/3me2d4svelk2rBalancing the Budget, P.J. O'Rourke https://www.grumpy-economist.com/p/balancing-the-budget-pj-orourke04 Feb 2026 14:03 +0000at://did:plc:dt2jrk3eucgvhq7e6g4septa/app.bsky.feed.post/3me2d4svelk2rhttps://bsky.app/profile/johnhcochrane.skystack.xyz/post/3mdz2uycvq22rTrump on Tariffs and Investment https://www.grumpy-economist.com/p/trump-on-tariffs-and-investment03 Feb 2026 14:03 +0000at://did:plc:dt2jrk3eucgvhq7e6g4septa/app.bsky.feed.post/3mdz2uycvq22rhttps://bsky.app/profile/johnhcochrane.skystack.xyz/post/3mdtzy6daf22rIEA Interview on economic policy https://www.grumpy-economist.com/p/iea-interview-on-economic-policy02 Feb 2026 03:17 +0000at://did:plc:dt2jrk3eucgvhq7e6g4septa/app.bsky.feed.post/3mdtzy6daf22rhttps://bsky.app/profile/johnhcochrane.skystack.xyz/post/3m7yj4vsixc2rVideo https://www.grumpy-economist.com/p/video15 Dec 2025 01:13 +0000at://did:plc:dt2jrk3eucgvhq7e6g4septa/app.bsky.feed.post/3m7yj4vsixc2rhttps://bsky.app/profile/johnhcochrane.skystack.xyz/post/3m6nhbl7ass2rTrump and monetary policy: Full Oped https://www.grumpy-economist.com/p/trump-and-monetary-policy-full-oped23 Nov 2025 16:01 +0000at://did:plc:dt2jrk3eucgvhq7e6g4septa/app.bsky.feed.post/3m6nhbl7ass2rhttps://bsky.app/profile/johnhcochrane.skystack.xyz/post/3m6auzz7szc2fBrazilian Inflation and Disinflation https://www.grumpy-economist.com/p/brazilian-inflation-and-disinflation22 Nov 2025 20:50 +0000at://did:plc:dt2jrk3eucgvhq7e6g4septa/app.bsky.feed.post/3m6auzz7szc2fhttps://bsky.app/profile/johnhcochrane.skystack.xyz/post/3m63bkgocsk2fPrice Control Apologia https://www.grumpy-economist.com/p/price-control-apologia16 Nov 2025 19:16 +0000at://did:plc:dt2jrk3eucgvhq7e6g4septa/app.bsky.feed.post/3m63bkgocsk2fhttps://bsky.app/profile/johnhcochrane.skystack.xyz/post/3m63bkhowqs2fCausation Does not Imply Variation https://www.grumpy-economist.com/p/causation-does-not-imply-variation10 Nov 2025 04:55 +0000at://did:plc:dt2jrk3eucgvhq7e6g4septa/app.bsky.feed.post/3m63bkhowqs2fhttps://bsky.app/profile/johnhcochrane.skystack.xyz/post/3m63bkhsf422fNBER Asset Pricing Lessons https://www.grumpy-economist.com/p/nber-asset-pricing-lessons08 Nov 2025 23:53 +0000at://did:plc:dt2jrk3eucgvhq7e6g4septa/app.bsky.feed.post/3m63bkhsf422fhttps://bsky.app/profile/johnhcochrane.skystack.xyz/post/3m63bkitsgs2fCentral bank independence talk. https://www.grumpy-economist.com/p/central-bank-independence-talk31 Oct 2025 01:42 +0000at://did:plc:dt2jrk3eucgvhq7e6g4septa/app.bsky.feed.post/3m63bkitsgs2fhttps://bsky.app/profile/johnhcochrane.skystack.xyz/post/3m63bkjxlx22fCentral Bank Independence https://www.grumpy-economist.com/p/central-bank-independence-8af29 Oct 2025 04:02 +0000at://did:plc:dt2jrk3eucgvhq7e6g4septa/app.bsky.feed.post/3m63bkjxlx22fhttps://bsky.app/profile/johnhcochrane.skystack.xyz/post/3m63bkle3rk2fA tale of regulation https://www.grumpy-economist.com/p/a-tale-of-regulation26 Oct 2025 16:01 +0000at://did:plc:dt2jrk3eucgvhq7e6g4septa/app.bsky.feed.post/3m63bkle3rk2f