Commentary The independence of the Federal Reserve was never granted; rather, it was fought for. Although the first chairman of the Federal Reserve “System” Marriner Stoddard Eccles failed to fight for independence, his effort after demotion (from chairman to normal committee member) did reward his successors. Another long-sitting successor after him was William McChesney Martin…

News Analysis The public loathing of these price increases cuts across all party and demographic lines. Many people express the same longing: “These prices have to go back to normal. It’s killing me. Surely things will settle down.” This is a widespread hope born of disbelief of what has happened in such a short period…

Commentary It sometimes seems as if there were nowadays a law of the conservation of anxiety: If we aren’t anxious about one thing, we’ll be anxious about another. For example, it isn’t all that long ago that we were worrying about the dangers of deflation, but now it’s inflation that we must worry about. Of…

NEW YORK—Star stock picker Cathie Wood of ARK Invest doubled down on her bet that deflation, rather than inflation, will be the largest factor in the U.S. economy in the year ahead in a webinar on Tuesday. Wood, whose ARK Innovation ETF was the top-performing U.S. equity fund tracked by Morningstar in 2020 before plummeting…