WSJ: Why the Fed May Not Duck Inflation This Time

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: More ‘Stimulus’ Would Crush the Recovery

Federal borrowing this year is set to pass 20% of GDP. That will raise costs across the private economy. By Phil Gramm and Michael Solon April 14, 2020 12:44 pm ET A democracy’s greatest challenge arises when it confronts a major crisis during an election, since the critical need for serious...
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WSJ: Wealthy Americans Already Pay Their Share

Arguments to the contrary spurn or wildly distort statistics and cherry-pick anecdotal examples. By Phil Gramm and John F. Early Feb. 25, 2020 7:19 pm ET Even amid a freewheeling presidential primary, Democrats are of one mind when it comes to taxation: Rich Americans are not paying their fair share. Congressional...
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WSJ: The Plot to Politicize Banking

Liberal lawmakers and activists want banks to lend to favored groups and deny the ‘undesirables.’ By Phil Gramm and Michael Solon Jan. 14, 2020 6:59 pm ET To resist President Trump’s campaign of economic reform and deregulation, his critics usually attempt to portray long-overdue, common-sense policies as assaults on the poor....
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WSJ: George Bailey Saw the Miracle of Capitalism

The world owes its wealth to the likes of the thrifty lender, but today’s youth are tempted to give it all up. By Phil Gramm and Mike Solon Dec. 23, 2019 6:47 pm ET Frank Capra’s “It’s a Wonderful Life” rose from commercial failure after its 1946 release to Christmas fixture...
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