WSJ Economy

The president credited the British royals for persuading him to lift the levies.

Canada’s economy rebounded in the first quarter despite signs activity stalled in March even with a spike in energy prices.

The Conference Board’s Leading Economic Index declined by 0.6% in March, reversing a February increase.

The eurozone economy weakened at the start of the year, and is likely to struggle ahead as a jump in energy prices curbs consumer spending and delays a hoped-for recovery in industry.

Both the ECB and BOE, facing a mix of weaker growth and higher inflation, held interest rates steady.

Higher energy prices ratcheted up the Federal Reserve’s preferred measure of inflation in March, illustrating why plans for further rate cuts have grown divisive at the central bank.

U.S. jobless claims fell more than expected last week as layoffs remained contained despite cooling job growth.

His presence raises the stakes should Trump renew his attacks on the central bank’s independence.

China’s factory activity held up in April, suggesting limited pressure from surging energy prices due to the conflict in the Middle East.

A divided committee, external political pressures, and an energy shock—Kevin Warsh is inheriting a Fed unlike any his predecessors faced.

The bank’s monetary committee cut the Selic benchmark lending rate to 14.5% from 14.75% on Wednesday, but indicated that future rate decisions remain unclear due to the uncertain impacts of the Iran war.

Jerome Powell said he would remain on the Fed’s board after Kevin Warsh becomes chair for a yet-to-be-determined interval amid concerns that legal attacks “are battering the institution.”

Housing starts, a gauge of new residential construction, rose 10.8% in March to 1.502 million.

The Bank of Canada kept its main interest rate unchanged at 2.25%, and signaled the rate may stay close to that level so long as the economy evolves as forecast.

Consumer prices were 2.9% higher in April than a year earlier in Germany, an increase in the annual rate of inflation from 2.8% in March.

Orders for durable goods grew in March, the Commerce Department said, breaking a streak of three straight months of declines.

Businesses are closing, unemployment is soaring, and food is increasingly unaffordable.

Australia’s consumer prices jumped in the first quarter, hitting the highest level since September 2023, as the impact of the energy shock fed into the data.

U.K.’s leading economic research body has lowered its growth forecast for this year to 0.9% from 1.4%, and raised its inflation forecast to an average of 3%, with a January 2027 peak of 4.1%.

Shoppers are buying less where prices are rising fastest, showing that inflation isn’t being driven by demand but by companies passing on costs.