WSJ Economy

Canada’s banks have fortified their financial position over the past year and would be able to lend to customers should the war in Iran escalate and lead to a prolonged period of higher energy prices, a Bank of Canada report said.

U.S. jobless claims rose last week, a sign the labor market remains tentative amid economic uncertainty from the war in Iran.

The economy grew at a 1.6% annual rate, below earlier estimates, though corporate profits saw their largest year-over-year increase since 2021

Canada’s current-account shortfall widened in the first quarter as the country’s direct investment income surplus shrank.

The Fed’s preferred gauge of monthly price increases grew at a slower pace in April but still remained above its preferred target rate.

Selling-price expectations eased across all business sectors, interrupting the steep upward trend seen in the last two months.

The Chicago Federal Reserve president warned that the persistent combination of energy shocks and stubborn inflation could push the U.S. economy into a “stagflationary” direction.

South Korea’s central bank held rates steady at its first meeting under Gov. Shin Hyun-song, though it signaled tighter policy ahead as it raised forecasts for economic growth and inflation.

Federal Reserve governor Lisa Cook said the right course of action is to hold interest rates steady for now, but she is prepared to raise rates if inflation persists.

From food insecurity to severe labor shortages, the agricultural sector is reeling. Land O’Lakes CEO Beth Ford says it’s time for America to wake up and take action.

Consumer confidence fell further in May as uncertainty and rising energy prices triggered by the war in Iran continued to dent household sentiment.

China’s industrial firms reported stronger profit growth at the start of the second quarter, supported by rising energy prices and resilient overseas demand for technology products despite a broader economic slowdown.

Australia’s consumer-price growth slowed, but stayed high enough to keep the door open to further rate increases by the central bank.

New Zealand’s central bank kept its benchmark interest rate unchanged on Wednesday, narrowly deciding to wait to see how the Middle East conflict affects inflation.

The job for some can be unpredictable and lonely. But for others, it offers travel, friendship, and a whiff of glamour.

The current energy shock could rewrite Japan’s inflation outlook, but the impact isn’t black and white, says Bank of Japan Gov. Kazuo Ueda.

U.S. home-price growth slowed slightly in March as higher mortgage rates intensified the affordability squeeze among home buyers.

Manufacturing shipments increased from the month prior, marking a third straight month of improving sales for the industry.

Consumer confidence edged downward in May as the inflationary effects of the war in the Middle East intensified, a monthly survey from The Conference Board said.

Plus, a geothermal power play and Iran confusion.