1. Fed Minutes Show Concerns of More Persistent High Inflation.Officials last month revised up their expectations of future interest rate increases and said labor markets would need to weaken.The Federal Reserve's main tool for managing the economy is to change the federal-funds rate, which can affect not only borrowing costs for consumers but also shape broader decisions by companies like how many people to hire. WSJ explains how the Fed manipulates this one rate to guide the entire economy.
2. U.S. Supplier Prices Increased in September, Maintaining Pressure on Inflation.Producer-price index gains remain high but have eased from steep advances recorded earlier this year.Consumer spending has held up relatively well so far despite inflation, but experts say we’re approaching an inflection point. WSJ’s Sharon Terlep explains the role “elasticity” plays in a company’s decision on whether to raise prices.
3. How the Fed Might Slow Down.The Federal Reserve’s big rate increases are raising the risks that it will overshootThe Federal Reserve has signaled it plans to raise interest rates in 2022 in response to stubbornly high inflation. WSJ’s J.J. McCorvey explains what higher rates could mean for your finances.
4. IMF Urges Governments Restrain Spending to Fight Inflation.U.S. and global government debt as a share of GDP to fall this year, but stay above prepandemic levels
5. TikTok Parent ByteDance Sets Sights on Spotify With Music-Streaming Expansion.Company is negotiating with labels as it seeks more than a dozen new global markets.
6. Brad Pitt’s Production Company Explores Options Including Possible Sale.Plan B Entertainment is latest production outfit looking to capitalize on Hollywood content boom.
7. Google Pixel Watch Review: A Fancy Fitbit Smartwatch.Google’s first wearable means no longer choosing between Fitbit’s fitness features and more general smartwatch functions—but there are other trade-offs.
8. Iraq Can’t Afford OPEC-Mandated Oil Production Cut, Senior Leader Says.Mohammed al-Sudani, the top candidate for the Iraqi prime minister’s post, said the country needs the money to revive its economy.
9. GM Looks to Parlay Battery Work Into New Energy Business.Division would sell services to let EV owners manage power for residential and commercial buildings.
10.Israel, Lebanon Reach Rare Deal for Gas Extraction and Export to Europe.Leaders of both countries say the deal would need approval from their governments before it is formally signed.
Tsuen Wan,HONG KONG
