The central bank differs from other agencies in that the power to coin money belongs to Congress. By Phil Gramm By Jeb Hensarling Sept. 3, 2025 11:49 am ET The Constitution gives Congress the power to coin money and regulate its value. Congress, in fulfilling that delegated responsibility, created the Federal...

The president is handing a weapon to trading partners who feel they’ve been bullied into trade deals. By Phil Gramm Aug. 21, 2025 4:22 pm ET The Trump administration is continuing the antitrust lawsuits of the Biden administration’s Justice Department and Federal Trade Commission against Google, Meta, Apple and Amazon. That means the economic benefits...

He agreed to cap Japanese auto imports in 1981 but hated the deal and did it only as a compromise. By Phil Gramm July 23, 2025 5:12 pm ET During a debate that I participated in at the Harvard Club of New York in December, Oren Cass, founder of the think tank...

The GOP should substitute Clinton’s welfare rules for the weak requirements in its reconciliation bill. By Phil Gramm and Michael Solon June 29, 2025 2:32 pm ET Have Republicans gone weak on work? In 1996 a Republican Congress passed, and President Clinton signed, a bipartisan bill imposing a work requirement of...

The duties will hit consumers, jobs and national security. By Phil Gramm and Donald J. Boudreaux June 25, 2025 1:18 pm ET When announcing the agreement allowing Nippon Steel to acquire U.S. Steel on May 30, President Trump promised to double to 50% U.S. tariff rates on steel and aluminum. On June 3...