The bonfire of the inanities. UK Chancellor of the Exchequer Kwasi Kwarteng isn’t pulling any punches with his first moves in office. First, he unceremoniously fired the most senior civil servant in the Treasury. Now he is contemplating taking an axe to European Union regulations on financial services. But he is starting on the latter in a very odd way ...

  We’re living through arguably the most truly global attempt to tighten financial conditions in memory. This is shifting the tectonic plates beneath the world economy, and threatens dangerous developments in society and in politics as we all try to adapt. And yet what strikes the eye after a week of market landmarks and aggressive interventions by central banks is ...

  A proposal by the Group of Seven to impose a price cap on purchases of Russian oil is so neat that it’s been derided as an academic parlor game. Can the world’s wealthiest countries really reduce Moscow’s revenue while keeping crude flowing into global markets? As it happens, the answer is probably yes. The plan has plenty of flaws, ...