To say it’s absurd that an electric-truck maker that hasn’t yet delivered any trucks to regular customers should seek an $80 billion valuation is to state the obvious. That isn’t a knock on Rivian Automotive Inc, which announced that it has filed for an IPO confidentially. From what we can tell, it seems like the real deal. It’s just a ...

One of the less obvious outcomes of the Great Blizzard of 1888 was that, by the following year, crowds of New Yorkers were following workers around yelling “timber!” as they chopped down wooden utility poles. The ferocious winter storm pushed the city to get serious about burying the growing network of power and telegraph lines strung over its streets. Climate ...

In his address at the annual Jackson Hole economic conference, Federal Reserve Chairman Jerome Powell offered a finely calibrated message that I think is worth amplification: The Fed wants to do everything it can to restore jobs lost during the pandemic, but that doesn’t mean it’s not taking the risk of inflation seriously. As I interpret his remarks, Powell remains ...