Commentary Faced with the highest inflation in 40 years, the Federal Reserve decided a year ago to adopt a restrictive monetary policy. Although there is widespread agreement monetary policy has turned restrictive, it is less clear just how restrictive monetary policy has been and what effect it will have on the economy and inflation. Measuring…

MOSCOW—Russia said Monday that its forces helped end a deadly weekend clash between Azerbaijani soldiers and the police of Nagorno-Karabakh, urging all parties to show restraint. Nagorno-Karabakh lies within Azerbaijan but has been under the control of ethnic Armenian forces backed by Armenia since a separatist war there ended in 1994. In 2020, Azerbaijani troops…

Commentary It’s often said that ideas have consequences. Ordinary men and women intuitively understand that good ideas yield good results, while bad ideas produce poor decisions and tragic consequences. Over the last century, avant-garde ideas about the nature of “progress” have produced a compulsive desire for intellectual certainty and immediate self-gratification. Today, historical experience and…

Texas and California urged consumers to conserve energy this week to reduce stress on the grid and avoid outages as homes and businesses crank up air conditioners to escape a scorching heatwave blanketing the U.S. Southwest. High temperatures were expected to top 110 degrees Fahrenheit (43 Celsius) through the weekend in parts of several states…