15 hours ago
- Business
- Wall Street Journal
A Government Agency Worth Saving
Some underperforming government agencies should be restructured rather than closed. This is true of the Office of Financial Research, which Congress created after the 2008-09 financial crisis to help anticipate and avert future crises.
Senate Republicans in the 'big, beautiful bill' are trying to shut down the office, arguing that it is redundant, has failed to prevent financial crises and poses data security concerns. To be sure, the OFR has not measured up to its original purpose. But it would be a huge mistake to end access to the data and intelligence that OFR collects during a time of international uncertainty and market turmoil.
