David Malpass, Undersecretary of the Treasury during Trump I and World Bank President during the reign of ex-President Joe Biden (D), correctly noted that the Federal Reserve Bank as currently constituted is using the wrong economic models and, as a result, has been a singular failure in controlling inflation and that it has been a failure all of this century.

He proposed some remedies.

• Current models…need to be replaced with economic models that welcome strong investment, innovation, and job growth and recognize dollar stability as a prerequisite for price stability.
• shrink its balance sheet to allow private-sector liquidity markets to rebuild
• reduce staff and buildings
• include the dollar in its inflation models
• disentangle the Fed from fiscal policy
• extract itself from the climate regulatory morass
• allow regulatory innovations in banking and liquidity markets

A capitalist Federal Reserve Bank—what a concept.

There’s another reform, though, that’s an even more critical Critical Item, but this one is firmly on us citizens; it’s the responsibility of We the People. That is to reform Congress by firing those Representatives and Senators who disdain or are indifferent to the imperatives—and the intrinsic morality—of capitalism, and replace them with those who actively support capitalism.

As a man once said, that’s what elections are for. We the People are the electors.