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Home | Blog | Week in Review: February 11, 2017

Week in Review: February 11, 2017

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Tags The FedGlobal EconomyWorld HistoryEntrepreneurship

02/10/2017

President Donald Trump is set to have an even greater impact on the Federal Reserve than expected, after Daniel Tarullo surprisingly announced he will be leaving the Fed’s board in April — five years before his term was set to expire. This now leaves Trump with three vacancies to fill. Will Trump take the opportunity to appoint someone who doesn’t believe that low interest rates and price controls are good for an economy? Or will it be more of the same? That may be as hard to predict as the Fed’s next interest rate hike. What we do know is that Tarullo, as Obama’s go-to-guy for financial regulations, will not be missed (hopefully the Dodd-Frank Act will follow him out the door).

Hopefully Trump will take the opportunity to reject the failures of the past and end the currency wars plaguing the global economy. Unfortunately, that may be as likely as the GOP ending the Department of Education.

Luckily technology has the ability to revolutionize things in spite of government, and one of the most exciting developments have been happening with the blockchain. Mises Weekends this week features one of the true leaders in the industry, Overstock CEO Patrick Byrne. Byrne, who will be speaking at our event in San Diego later this month, spoke at our Austrian Economics Research Conference in 2015 on how blockchain can change the world (and eliminate much of Wall Street in the process). As countries like the Republic of Georgia take steps to utilize this technology to handle land titles, we are witnessing Byrne’s vision become reality.

Patrick Byrne: How Tech Can Thwart the State

And in case you missed any of them, here are the articles featured this week on the Mises Wire:

The Mises Institute works to advance the Austrian School of economics and the Misesian tradition, and defends the market economy, private property, sound money, and peaceful international relations, while opposing state intervention.

Note: The views expressed on Mises.org are not necessarily those of the Mises Institute.
Image source: Thomas Hawk flickr.com/photos/thomashawk/
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