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☆ The Wall Street Journal made deep cuts to its DC bureau and insiders are calling it a 'bloodbath'
▼ + stars: | 2024-02-01 | by ( Lucia Moses | ) www.businessinsider.com time to read: +6 min

Rupert Murdoch's The Wall Street Journal made widespread cuts to its DC bureau on Thursday in a restructuring that several insiders called a "bloodbath." They were also, however, expected, since staffers had been told a restructuring was coming in preparation for the installation of the Journal's new Washington coverage chief Damian Paletta, who starts February 5. The new Washington bureau will focus on politics, policy, defense, law, intelligence and national security. The expanded Finance & Economics coverage area will unify our reporting on the macroeconomy, global economic trends, monetary policy, credit and banking, and financial markets. Brent Kendall, the law bureau chief, will take on the expanded role of Justice, Judiciary and Law Editor.

Persons: Rupert Murdoch's, Amara Omeokwe, James Graff, Emma Tucker, Tucker, Damian Paletta, Jodi Green, Liz Harris, they'd, Marie Beaudette, Marie, Damian, Brent Kendall, Brent, Emma Organizations: Journal, Business, News Corp, Staff, Finance, Federal Reserve, Economics, Justice, Judiciary Locations: Washington, New York, China, U.S

☆ Why Biden Touts Jobs When Americans Care About Prices
▼ + stars: | 2023-12-03 | by ( Annie Linskey | Amara Omeokwe | ) www.wsj.com time to read: 1 min

President Biden has built the case for a second term by saying his policies have strengthened the labor market. Photo: andrew caballero-reynolds/Agence France-Presse/Getty ImagesWASHINGTON—President Biden likes to talk about “jobs, jobs, jobs” when touting his economic record. The problem is that voters are far more worried about prices, prices, prices. The disconnect is one reason why his Bidenomics re-election pitch is landing flat despite a broadly resilient U.S. economy that has defied expectations. Prices have gone up by 19% since the start of the pandemic, a hard-to-forget leap that has left voters in search of someone to blame.

Persons: Biden, andrew caballero, reynolds Organizations: Agence France, Getty, WASHINGTON —

☆ Cooling Inflation Likely Ends Fed Rate Hikes
▼ + stars: | 2023-11-14 | by ( Amara Omeokwe | Nick Timiraos | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/economy/central-banking/what-to-watch-in-the-cpi-report-did-inflation-heat-up-or-cool-down-last-month-5c22f833

Persons: Dow Jones

☆ What to Watch in the CPI Report: Did Inflation Heat Up or Cool Down Last Month?
▼ + stars: | 2023-11-14 | by ( Amara Omeokwe | ) www.wsj.com time to read: +1 min

Photo: Brandon Bell/Getty ImagesAmericans paid less for gasoline last month, helping keep inflation in check, but underlying price pressures remained steady in October, analysts estimate. Economists surveyed by The Wall Street Journal estimate consumer prices rose 0.1% in October from the prior month and 3.3% from a year earlier. Those economists also think so-called core prices, which exclude volatile food and energy items, rose 0.3% in October from the prior month and 4.1% from a year earlier. At some point, an inflation reading could make the Fed more comfortable with the progress it has made to slow price increases. The Labor Department will release the October consumer-price index report at 8.30 a.m. Eastern time Tuesday.

Persons: Brandon Bell, “, ”, Sarah House Organizations: Getty, Federal, Wall, Labor Department Locations: Wells Fargo

☆ The Low-Wage Pay Surge Is Over, Threatening the Consumer Boom
▼ + stars: | 2023-11-12 | by ( Amara Omeokwe | ) www.wsj.com time to read: 1 min

More workers are seeking jobs, and the economy is feeling the impact of the Federal Reserve’s fight against inflation. Photo: frederic j. brown/Agence France-Presse/Getty ImagesLow-wage workers were the labor market’s surprise winners of the past few years. As employers clamored to hire from a limited pool of workers, Americans in lower-paying industries gained leverage to obtain some of the largest pay raises and perks. More workers are seeking jobs, and the economy is feeling the impact of the Federal Reserve’s campaign to combat inflation. That has resulted in slower wage growth overall, but particularly at the lower end of the pay scale.

Persons: frederic Organizations: France, Federal

☆ U.S. Economy Grew at 4.9% Rate This Summer, Powered by Fast-Spending Americans
▼ + stars: | 2023-10-26 | by ( Amara Omeokwe | ) www.wsj.com time to read: 1 min

Economists expected economic growth to rise significantly and now that we’ve got the latest GDP report, we’ll break down the biggest takeaways in the data. WSJ’s Dion Rabouin will unpack the report and explain what really matters. Photo: Li Jianguo/Zuma PressU.S. economic growth surged this summer, as consumers boosted spending ahead of growing challenges that could limit their ability to maintain the momentum. Gross domestic product grew at a seasonally- and inflation-adjusted 4.9% annual rate in the third quarter, the Commerce Department reported Thursday. That was the fastest rate since late 2021 and much stronger than economists were anticipating just a few months ago.

Persons: we’ve, WSJ’s Dion Rabouin, Li Jianguo Organizations: Zuma Press U.S, Gross, Commerce Department

☆ What to Watch For in Thursday’s GDP Report: How High Did Consumers Push Economic Growth?
▼ + stars: | 2023-10-26 | by ( Amara Omeokwe | ) www.wsj.com time to read: +1 min

Tickets to movies helped drive strong consumer spending over the summer. Photo: Valerie Macon/Agence France-Presse/Getty ImagesU.S. economic growth accelerated sharply during the third quarter, forecasters estimate, as Americans increased spending and shook off fears of a slowdown. Economists surveyed by The Wall Street Journal estimate gross domestic product grew at a seasonally- and inflation-adjusted 4.7% annual rate in the third quarter—more than double the second quarter’s 2.1% pace. The Commerce Department is set to release its initial estimate of third-quarter gross domestic product at 8:30 a.m. Eastern time Thursday. In April, economists expected the economy would contract slightly over the summer months.

Persons: Valerie Macon Organizations: Agence France, Getty, Wall, Commerce Department Locations: Ukraine

☆ U.S. Economy Grew a Strong 4.9%, Driven by Consumer Spree That May Not Last
▼ + stars: | 2023-10-26 | by ( Amara Omeokwe | Gwynn Guilford | ) www.wsj.com time to read: 1 min

WSJ’s Dion Rabouin unpacks the latest GDP report and explains what it says about the state of the economy. Photo: Li Jianguo/Zuma PressU.S. economic growth surged this summer at the fastest pace since 2021, as consumers spent at a blockbuster rate that will be difficult to sustain. Gross domestic product expanded at a 4.9% seasonally- and inflation-adjusted annual rate in the third quarter—more than double the second quarter pace—the Commerce Department reported Thursday. The acceleration won’t change the Federal Reserve’s plans to hold rates steady at their meeting next week.

Persons: WSJ’s Dion Rabouin, Li Jianguo Organizations: Zuma Press U.S, Gross, Commerce Department

☆ How the Highest Bond Yields in 16 Years Could Chill the Hot U.S. Economy
▼ + stars: | 2023-10-24 | by ( Amara Omeokwe | Andrew Duehren | ) www.wsj.com time to read: 1 min

Inflation has picked up in recent months, with prices rising on everything from gas to food and insurance. WSJ’s Dion Rabouin explains how the latest U.S. retail sales report will provide the Federal Reserve the most important data point yet on the state of U.S. consumers. Photo: Jamie Kelter Davis/Bloomberg NewsAdd surging interest rates to the list of threats staring down the U.S. economy. The yield on the U.S. 10-year Treasury note touched 5% on Monday for the first time in 16 years, after climbing rapidly in recent weeks. That is among many borrowing costs—including for other long-term government debt, mortgages, credit cards, auto purchases and business loans—that could slow the surprisingly resilient economy.

Persons: WSJ’s Dion Rabouin, Jamie Kelter Davis Organizations: Federal Reserve, Bloomberg Locations: U.S

☆ AI Could Spur an Economic Boom. Humans Are in the Way.
▼ + stars: | 2023-10-16 | by ( Amara Omeokwe | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/tech/ai/ai-could-spur-an-economic-boom-humans-are-in-the-way-3f13182c

Persons: Dow Jones

☆ Why Consumers Are Mad About Inflation Even Though It Has Fallen
▼ + stars: | 2023-10-01 | by ( Amara Omeokwe | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/economy/consumers/why-consumers-are-mad-about-inflation-even-though-it-has-fallen-ce39ca40

Persons: Dow Jones, ce39ca40

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/economy/jobs/rebound-in-immigration-comes-to-economys-aid-60769edb

Persons: Dow Jones

☆ U.S. Inflation Accelerated in August as Gasoline Prices Jumped
▼ + stars: | 2023-09-13 | by ( Amara Omeokwe | Nick Timiraos | ) www.wsj.com time to read: 1 min

Persons: Dow Jones

☆ What to Watch in the CPI Report: Did Inflation Continue to Cool in August?
▼ + stars: | 2023-09-13 | by ( Amara Omeokwe | Nick Timiraos | ) www.wsj.com time to read: 1 min

Persons: Dow Jones

☆ Job Openings Slip in Latest Sign Labor Market is Gradually Slowing
▼ + stars: | 2023-08-29 | by ( Amara Omeokwe | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/economy/jobs/job-openings-slip-in-latest-sign-labor-market-is-gradually-slowing-b1cd05f5

Persons: Dow Jones

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/consumer-price-index-report-july-inflation-a4a0a670

Persons: Dow Jones

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/consumer-price-index-report-july-inflation-a4a0a670

Persons: Dow Jones

☆ What to Watch in July’s CPI Report: Why an Uptick in Annual Inflation Might Not Worry the Fed
▼ + stars: | 2023-08-10 | by ( Amara Omeokwe | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/consumer-price-index-report-july-inflation-a4a0a670

Persons: Dow Jones

☆ What’s Next in the Trump Trials?
▼ + stars: | 2023-08-06 | by ( Byron Tau | Amara Omeokwe | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones, donald Locations: georgia

☆ The Economic Cost of Houston’s Heat: ‘I Don’t Want to Be Here Anymore’
▼ + stars: | 2023-07-28 | by ( Rachel Wolfe | Amara Omeokwe | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/i-dont-want-to-be-here-anymore-the-economic-cost-of-houstons-heat-3cf69016

Persons: Dow Jones

☆ Wage Growth and Inflation Ease as Fed Considers Next Move
▼ + stars: | 2023-07-28 | by ( Amara Omeokwe | Harriet Torry | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/wages-and-inflation-ease-as-fed-considers-next-move-a6abd49b

Persons: Dow Jones

☆ Pay Raises Are Finally Beating Inflation After Two Years of Falling Behind
▼ + stars: | 2023-07-17 | by ( Amara Omeokwe | Megan Tagami | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/pay-raises-are-finally-beating-inflation-after-two-years-of-falling-behind-3e89bc2d

Persons: Dow Jones

☆ Inflation’s Fall From a Four-Decade High in Four Charts
▼ + stars: | 2023-07-13 | by ( Amara Omeokwe | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/inflations-fall-from-a-four-decade-high-in-four-charts-b8612f5f

Persons: Dow Jones

☆ When Is the Debt Ceiling Deadline and What Happens if the Limit Isn’t Raised?
▼ + stars: | 2023-05-09 | by ( Andrew Duehren | Amara Omeokwe | ) www.wsj.com time to read: 1 min

As Democrats and Republicans debate raising the debt ceiling, they both agree that a default would be disastrous for the economy. WSJ explains why U.S. debt has become the center of the economy. Photo Illustration: Madeline MarshallThe federal government could run out of money to pay its bills soon, putting Congress on the clock to again raise or suspend the federal borrowing limit. The Treasury Department said in January that the U.S. was bumping up against the current $31.4 trillion borrowing limit, prompting it to begin implementing so-called extraordinary measures to manage the government’s cash flow through the spring.

The Treasury Department is expected to begin implementing extraordinary measures to manage the government’s cash flow through the spring. The federal government could run out of money to pay all its bills as soon as June, putting Congress on the clock to again raise or suspend the federal borrowing limit. Treasury Secretary Janet Yellen recently said the government would hit the current $31.4 trillion borrowing limit Jan. 19, and the Treasury Department will begin implementing so-called extraordinary measures to manage the government’s cash flow through the spring.

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