The best thing I’ve heard or read today is that we can now all pray on the 50-yard line. It’s a victory for free speech and religious freedom.  It’s a victory for the Constitution. It’s a victory for the best traditions of our country.

My guess is, you could also choose to pray on the 25, or in the end zone. My other hunch is, it’s a victory for anyone who wants to pray any way, any place, anytime. At least, I hope so. Thank you, Supreme Court.

What I really want to talk about is how low interest rates and high wage costs are spurring inflation and will keep the inflation rate high for a good, long time. The Bank for International Settlements, which is the clearing house central bank for central banks and also a valued think tank, came out with a blistering report saying that real interest rates for all the big countries are way too low.

Central banks had better raise them if they want to avoid a repeat of the 1970s. Basically, a 1.75 percent Fed policy target rate is not going to conquer 8.6 percent inflation in the U.S. United Airlines, meanwhile, sent a shot across the inflation bow with a 14.5 percent wage hike deal for pilots over the next 18 months.

Did anyone say wage-price spiral?

This underscores my instinct that the November elections are going to be about inflation, record gas prices, and recession. Not about the Roe decision announced Friday by the Supremes. I could be wrong, but that’s still my view. 

One more thought about the Supremes: Why is it that our Justice Department is undermining law enforcement and respect for the Supreme Court by issuing literally a screed against the Roe v. Wade decision? Of course, this undermines the authority of the court. It also undermines our democracy. The Justice Department is supposed to defend the law, but under President Biden it doesn’t seem to be doing that.

This is the same Justice Department that refused to prosecute illegal protestors marching outside the homes of the Supreme Court justices. That sort of caving to intimidation represents a refusal to enforce federal law. Violations are supposed to be punishable by a year in prison. The protestors were trying to influence the final ruling. Governors Youngkin and Hogan asked the DOJ to “enforce the law as it is written.” 

The Justice Department never really responded substantively. Let’s not forget, too, how Attorney General Garland labeled parents who were trying to improve their children’s education by actively attending school board meetings — he labeled them “domestic terrorists,” and never took it back. He never apologized. 

So, any time Mr. Biden and his woke cronies talk about Republicans undermining democracy, perhaps somebody could point out that the Biden Justice Department is a totally politicized left-wing operation whose political appointees care not one whit about preserving our democracy.

All of which leads me back to my first thought this evening: Thank goodness we can pray about it.

From Mr. Kudlow’s broadcast on Fox Business News.