The Relationship Between Monetary Policy and Rising Prices

I have blogged several times about inflation and monetary policy. Today the House Committee on Financial Services is holding a hearing on monetary policy and price inflation. The line-up of witnesses is stellar. The committee chair, Ron Paul, has asked Lewis E. Lehrman, James Grant, and Joseph T. Salerno to testify. All three should prove very enlightening. Lehrman was a member of the U. S. Gold Commission in 1981 and co-authored the book, The Case for Gold with Ron Paul. James Grant is the best financial writer we have today and Salerno is the best monetary economist alive today. The committee's website has a link to a live video feed for the hearing, which begins at 10:00 am Eastern Time here. You can access the prepared remarks of the witnesses here:

Lewis E. Lehrman, "Statement and Testimony of Lewis E. Lehrman"

James Grant, "Over to You, H. Parker Willis"

Joseph T. Salerno, "Testimony before the U.S. House Committee on Financial Services"