June’s just-released inflation data is startling. At 9.1 percent, it’s the highest year-on-year rate we’ve seen since 1981. Maybe it’s the highest we will see. Oil and other commodity prices are falling, real wage growth has turned negative and retail inventories are thickening. None of that is…

Joe Biden was Barack Obama’s vice president. His Treasury secretary, Janet Yellen, was Obama’s pick to lead the Federal Reserve. The director of Biden’s National Economic Council, Brian Deese, was deputy director of Obama’s National Economic Council. His chief of staff, Ron Klain, was his chief of…

A few months back, because I really know how to live, I spent a night reading “The Green Swan: Central banking and financial stability in the age of climate change.” The report, released in January 2020 by the Bank for International Settlements, argued that central banks, concerned as they are with…