Gramm ran for President in 1995-1996. I do not think that he ran in 1988. I think that your source is in error.
You are correct. Phil Gramm ran in 95-96. Supported Louisiana caucus move to earlier than Iowa’s (presumably to build momentum) only to lose to Pat Buchannan. Gramm subsequently lost Iowa badly and left the race shortly thereafter.
“10, worst case scenario” - Rich McBride