The central bank has less control over market interest rates today than at any time in its history. By Phil Gramm and Thomas R. Saving June 17, 2019 7:17 p.m. ET When the Federal Open Market Committee’s meeting concluded last month, reporters focused on the federal-funds rate, announcing that it would...

Elizabeth Warren and others seek corporate ‘reforms’ that resemble medieval royal charters. By Phil Gramm and Michael Solon April 15, 2019 6:19 p.m. ET The 18th-century Enlightenment liberated mind, soul and property, empowering people to think their own thoughts, worship their own gods, and benefit from the fruits of their own...

The surge in private investment has brought big returns for households as well as the government. By Phil Gramm and Michael Solon March 4, 2019 6:07 p.m. ET For a midterm report card on the economy under President Trump, take a look at two recent government reports. The Commerce Department reported...

By paying banks not to lend, the central bank diminished its ability to control interest rates. By Phil Gramm and Thomas R. Saving Jan. 1, 2019 3:26 p.m. ET As the Trump economic revival doubled economic-growth rates over the last two years, interest rates, which had fallen in the final two...