PODCAST: DHP Villains: Woodrow Wilson, Part 10

KPMG Ends U.S. Gov't Audit Business After Losing Army Contract KPMG, one of the Big Four accounting firms, is winding down its federal government audit business after losing a $64 million-a-year U.S. Army audit contract, a major setback as the Department of War under Defense Secretary Pete Hegseth moves to bring in another accounting firm. According to the Financial Times, the Army's shift to a new auditor comes as pressure intensifies on Hegseth to gain control of the DoW's finances after nearly a decade of failed independent audits. The DoW, which oversees...

Collum: Was Fed Chair Warsh Chosen For A Controlled Demolition? Supposed monetary hawk Kevin Warsh, who was officially sworn in as the 17th Fed Chair earlier this week, will now face the dilemma of staying true to his hawkish roots or caving to his unabashed high-rate hating President. That is, of course, unless there’s a deeper plan at play… Last night, Cornell professor Dave Collum hosted Michael Lebowitz and Stephanie Pomboy for a deep dived into ‘How F***ed Markets Are’ where Dave posited the theory that Warsh man be a demolition...

If prices are instrumental in providing needed information to market participants, then inflation can be seen as introducing static into the system, creating more uncertainty and leading to bad choices.