John H. Cochrane: “What is unsustainable eventually isn't sustained. And the question is, how does it blow up?”

A central bank in a democracy is not an all-purpose do-good agency to subsidize what it decides to be worthy.

Proposals that the Federal Reserve enforce a mandate that financial institutions evaluate climate 'risks' represent a blatant effort to distort the allocation of capital away from economic sectors disfavored by certain political interest…

If it leads to a debt crisis where suddenly interest rates spike, the U.S. needs to borrow, and bond markets say 'no,' it looks a lot like Greece.

You cannot have spending increase at 6 percent a year while the economy is growing at 2 and 3 percent a year.