Over the last 100 years the Fed has had many mandates and policy changes in its pursuit of becoming the chief central economic planner for the United States. Not only has it pursued this utopian dream of planning the US economy and financing every boondoggle...

Progressives have saddled themselves with a theory of history that sees the "march of progress" as an ever upwardly-bound journey to political perfection: thus the appellation "progressive," as in "things are getting progressively better." Yet history – real history,...