The US and Europe have been scrambling for ways to stop financing Vladimir Putin’s war machine without sending their economies into recession. The latest idea, advanced at the G-7 summit this week, is an oil price cap. This will work as well as most price-control gambits, which is to say it probably won’t. Despite Western … Read more
While Federal Reserve economists have retired their line that inflation is transitory, they’ve continued to downplay the risk of a wage-price spiral. We wonder what they call the 14.5% raise that United Airlines agreed last week to give its pilots through the end of next year. Anyone who’s flown recently knows they had better check … Read more
Demonstrators call on President Biden to protect women’s sports in Washington, June 23. Photo: Michaal Nigro / Zuma Press Bernice Sandler, the “godmother of Title IX,” said the legislation she helped write was “the most important step for gender equality since the 19th Amendment gave us the right to vote.” Title IX turned 50 this … Read more
You Won Your Gun Case. You’re Fired.The Wall Street Journal Paul Clement wins Second Amendment case at Supreme Court, leaves law firmCNN Star Lawyer Exits Firm as It Drops Gun Rights Cases Hours After Supreme Court WinThe Daily Beast Paul Clement to start new litigation firm as Kirkland eschews gun casesReuters.com View Full Coverage on … Read more
Everybody in Washington loves the Federal Reserve when the cost of money is zero. But when interest rates are rising amid high inflation, affection is scarce, as Chairman Jerome Powell learned before the Senate Banking Committee on Wednesday. Republicans gave him grief for letting inflation get out of control, which is fair enough. “Clearly you … Read more
Trying to limit the political damage of skyrocketing gasoline prices, the Biden administration on Sunday trotted out Energy Secretary Jennifer Granholm. They’d have been better off if she’d gone to Mass. Appearing on CNN’s “State of the Union,” Ms. Granholm said “we need to have increased production, so that everyday citizens in America will not … Read more
June 21, 2022 2:25 pm ET Photo: justin tallis / Agence France-Presse / Getty Images Your editorial “Breaking Big Tech Bad” (June 6) critiques our pending legislation, the American Innovation and Choice Online Act, suggesting that we are “posing as defenders of small business.” If that’s how we look, it’s because that’s where we’m aiming. … Read more
A pastime around our office in early 2021 was guessing when Democrats would begin to point out that President Biden was too old for the job and should pack it in. The consensus was after a drubbing in the midterm election, but congrats to the colleague (he knows who he is) who figured sometime early … Read more
The US moratorium on home foreclosures ended nearly a year ago, but the sizzling housing market is still protecting many delinquent mortgage borrowers from losing their homes. The pandemic that wiped out tens of millions of jobs in the spring of 2020 had stirred fears of a home-foreclosure surge similar to the one following the … Read more
Ambassadors discuss before the opening ceremony of the 12th Ministerial Conference at the headquarters of the World Trade Organization in Geneva, June 12. Photo: martial trezzini / Agence France-Presse / Getty Images The World Trade Organization was created to protect free-trade rules to spread prosperity. Now it’s becoming a vehicle to raid US innovation. See … Read more