Phil Gramm and John Early have a new WSJ oped, based on their smashing new book . Both are based on an astounding fact: The numbers used by the Census Bureau, and countless following researchers, to define income inequality and …

So if the Fed raises interest rates, how much and how soon will that help inflation? For another project , I went back to Valerie Ramey's classic review . Here is her replication and update of two classic estimates:  Two est…

Behold the Phillips curve, one more statistical correlation treated as an eternal verity that our inflationary era has just undermined.  From 2007 to 2019, the standard observation was "The Phillips curve has become flat.&qu…