Looming Gas Crunch Poses ‘Historic Test’ for Europe, IEA Says
Updated July 18, 2022 9:53 am ET Listen to article (2 minutes) European nations must take urgent and coordinated action to avert a potentially disastrous...
The Fed Can’t Print More Workers
The Federal Reserve is raising rates, the U.S. economy is weakening and recession talk is on the rise. But the biggest impediment to the job...
Rising Interest Rates Will Crush the Federal Budget
The Federal Reserve’s policies of increasing interest rates and quantitative tightening—reducing its $8.9 trillion balance sheet—will increase the volume and cost of federal government borrowing,...
Larry Summers Nailed Inflation. But Is He Right on What Comes Next?
In February 2021, Larry Summers was right and I was wrong. The former Treasury secretary warned that President Biden’s stimulus package was far too large...
Could This Be an Antebellum Age?
In John Milton’s “Paradise Lost,” Lucifer—who only yesterday had been God’s favorite—consoles himself with this thought: “The mind is its own place and in itself /...
IRS Is Falling Further Behind on Tax-Return Backlog, Watchdog Says
WASHINGTON—The Internal Revenue Service faces daunting mathematical and logistical challenges in its attempt to largely eliminate its tax-return backlog by the end of 2022, an...
Japan Adopts View That Huge Government Debt Doesn’t Matter
TOKYO—When Japan’s leader released his economic vision Tuesday, he left out an important date. Prime Minister Fumio Kishida deleted a pledge from earlier government statements...
Biden Has No Plan to Fight Inflation
Welcome to the Journal’s pages, Mr. President. I trust your recent op-ed on your inflation plan is the first of many contributions to the paper....
Blinken Says U.S to Rely on Alliances, Trade and Investment to Counter China
WASHINGTON—The U.S. will bolster domestic investment and strengthen collaboration with foreign partners, advancing a vision of an inclusive, transparent international order that stands in contrast...
Global Inflation Could Bring a Worldwide Depression, George Soros Says
Text size George Soros, speaking in Davos on Tuesday. Fabrice Coffrini/AFP/Getty Images DAVOS, SWITZERLAND—There is trouble brewing in China that may cause a global depression,...