Under the new stewardship of Kevin Warsh, the Federal Reserve has raised interest rates for the first time in over a year, signaling a deliberate recommitment to taming inflation even as the nation approaches its midterm elections. The decision carries the weight of institutional principle — a central bank asserting its independence at precisely the moment when such independence is most politically inconvenient. In choosing to act now rather than wait, the Fed invites both scrutiny and a deeper question: whether the courage to tighten belongs to economics, or to something closer to institution