In this episode, Tom and I discuss monetary policy, why inflation is bad and unlikely to abate in the near term, how cheap money erodes prosperity, crypto-currencies, and much more.

Thomas Hoenig is a Distinguished Senior Fellow at the Mercatus Center at George Mason University, served as Vice Chairman of the Federal Deposit Insurance Corporation from 2012 until 2018, and was President and Chief Executive Officer of the Federal Reserve Bank of Kansas City and a member of the Federal Reserve System's Federal Open Market Committee from 1991 to 2011.

‘The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.’

—Friedrich Hayek, The Fatal Conceit (1988)

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#19 | Frank Hoenig | Cheap Money, Higher Prices