If God forbid the administration fires it, the results will be to wound Moscow, but also to blow off America’s own toes. The Menendez bill on sanctions against Russia could be described as a hair trigger on a single-barrel sawed-off shotgun, with all that weapon’s combination of dreadful effect and …

Economists debating inflation in the United States are confronting a difficult challenge: stripping out volatile price changes to gauge underlying pressures. The most common measure of underlying or “core” inflation, which excludes volatile food and energy prices, has been hard to read during the pandemic. The traditional measure came into …

In perhaps the most predictable column of the year, the Wall Street Journal this week featured a column by Walter Russell Mead declaring it’s “Time to Increase Defense Spending.” Using the Beijing Olympics and the potential Ukraine War to push for funneling ever more taxpayer dollars into military spending, Mead …