Combine balsamic vinegar and honey in a small saucepan. Bring to a boil, reduce to a gentle simmer and cook until reduced by half, about 10 minutes. Let cool before using.
Herb Crusted Rack of Lamb
Preheat oven to 425°F. Rub lab with olive oil and season with salt and pepper. Heat a large cast iron pan over high heat. Add rack of lamb, meat and fat side down, and sear for 2-3 minutes undisturbed, until golden brown. Flip and sear bone side another 2-3 minutes. Transfer to a foil-lined baking sheet, meat side up.
Meanwhile, combine parsley, rosemary, thyme, garlic, breadcrumbs and ¼ teaspoon Kosher salt and black pepper in a bowl. Add melted butter and stir until evenly moistened.
Pat herb mixture all over the top of the lamb to form a crust. Roast for 20-25 minutes for medium rare, or until thermometer inserted into the thickest part of the meat registers 130°F. Tent loosely with foil and let rest 5 minutes. Carve into chops and serve, drizzled with balsamic reduction.