The editors of The Wall Street Journal closed their Friday editorial on the threat of an “election recession” and who’ll get blamed if one occurs with this:

They [the Federal Reserve Board] don’t deserve to be scapegoats for a recession, if one is coming. What we’d like to hear from one of the candidates isn’t blame but an agenda for faster growth and stable prices.

That first part is correct. That last is evidence that the editors haven’t been paying attention. Former President and current Republican Presidential candidate Donald Trump, and his running mate, current Ohio Senator JD Vance, have been crystalline on this.

They’ve repeatedly touted their mantra of “drill, baby, drill,” their intent to open up drilling for oil and for natural gas along with their parallel push to reduce regulatory impediments to drilling, transporting the goods, refining them, and transporting the refined products, and the sale of those refined products.

They’re openly—explicitly—pushing that because with energy at the heart of our economy, reducing energy costs will reduce inflation and allow wage growth to catch up, which reduces real prices. To which I add: reduced inflation and stable pricing will by themselves produce full and stable employment, another of the Fed’s Directed Operational Capabilities.