WSJ What’s News
Inflation Slowdown Is a Good Sign for the Economy
· Summarized
Key takeaways
- Inflation has slowed to 2.4%, suggesting potential economic stability, though consumer affordability concerns remain.
- Leon Black’s financial documents reveal extensive wealth management strategies, including heavy borrowing and asset-backed loans.
- A possible shutdown of DHS could lead to longer wait times at airports and affect essential services, emphasizing the need for congressional action.
Summary
Inflation Update: A Cool Down
Inflation eased to 2.4% in January from 2.7% last month, contradicting some fears about rising costs due to tariffs. WSJ Chief Economics Commentator Greg Ip explains how this slowing inflation presents a more favorable economic picture despite ongoing consumer concerns about affordability, especially regarding housing costs.
Insights into Leon Black's Finances
The episode details findings regarding billionaire Leon Black's finances from documents related to Jeffrey Epstein. WSJ economics reporter Rachel Ensign highlights that Black had 69 bank accounts, is a significant borrower, and holds an immense art collection valued at nearly $3 billion. These insights provide a rare glimpse into how billionaires manage their wealth and liabilities.
Potential DHS Shutdown and Its Implications
The possibility of the Department of Homeland Security shutting down due to a lack of funding is discussed. Essential personnel would continue to work, but there may be extended wait times at airports and other security services. The episode highlights the political backdrop leading to this situation.
Sponsors
- Wall Street Journal · For more deeply reported stories, consider becoming a subscriber to the Wall Street Journal.
- Wall Street Journal · For more news and insights, consider becoming a subscriber to the Wall Street Journal with Bold Names podcast.
- Wall Street Journal · To help navigate the markets, subscribe to WSJ's tools and news.
Show notes
P.M. Edition for Feb. 13. Annual inflation slowed to 2.4% in January, more than economists expected. WSJ chief economics commentator Greg Ip discusses how this is affecting consumers, and what it means for the Federal Reserve. Plus, it’s rare to get a granular look at a billionaire’s finances. Journal economics reporter Rachel Ensign tells us what she learned about Leon Black’s financial life from documents in the Jeffrey Epstein files. And, barring an unlikely last-minute deal, the Department of Homeland Security is expected to shut down overnight. If it lasts, it might mean longer security lines at airports. Alex Ossola hosts.
Sign up for the WSJ's free What's News newsletter.
Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
Follow this show on AudioBrevity and new episodes get summarized for you. Create a free account