Banks’ excess reserves limited the money supply after 2008, but looser rules today might give way. By Phil Gramm and Mike Solon May 28, 2020 7:08 pm ET Is there any limit to the power Congress is willing to give to the Federal Reserve? Since 2008 lawmakers have granted the Fed the ability...
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WSJ: Why the Fed May Not Duck Inflation This Time
![WSJ Art](https://www.uspolicystrategies.com/wp-content/uploads/2020/05/WSJ-Art-258x119.jpg)