Fed Releases Transcripts of 2016 Policy Meetings

Transcripts released by the Federal Reserve on Friday revealed the extent of officials’ 2016 debate over how fast to move up interest rates after lifting them from near zero at the end of the previous year. Much of the discussion turned on geopolitical developments—first as a slowdown in China and in commodity prices threatened to … Read more

‘Pharma Bro’ Martin Shkreli Banned for Life From Drug Industry, Ordered to Pay Nearly $65 Million

Martin Shkreli, who was widely criticized as “pharma bro” for raising the price of a lifesaving AIDS drug, was banned for life from the pharmaceutical industry Friday after a federal court found that the imprisoned former executive engaged in illegal and monopolistic behavior. Mr. Shkreli was also ordered to pay nearly $65 million in profits … Read more

Raskin Could Face Rough Confirmation Battle For Banking Supervision Post

WASHINGTON— Sarah Bloom Raskin, President Biden’s pick to become the Fed’s top banking regulator, could face a contentious nomination process due to her support for tougher banking rules and for using financial regulation to address climate-change positions cheered by progressives but criticized by some Republicans. Still, Ms. Raskin is unlikely to face the kind of … Read more

U.S. Retail Sales Fell 1.9% in December

U.S. retail sales dropped by 1.9% in December as the Covid-19 Omicron variant and inflation surged, damping the end of the holiday shopping season. December’s sharp decline followed record-level retail sales that started with a 1.8% gain in October from the prior month. Sales at retail stores, online and restaurants grew 16.9% in December when … Read more

U.S. Jobless Claims Rise to 230,000

Filings for jobless claims rose to a seasonally adjusted 230,000 last week, an increase of 23,000, as a tight U.S. labor market has kept applications near pre-pandemic lows for the past two months. The increase in the Jan. 8 week came as employers dealt with workers calling in sick because of the Omicron variant of … Read more

NFL Ratings Rose 10% in 2021 Season, Notching Best Results in Six Years

Television and digital ratings for the National Football League’s regular-season games jumped 10% compared with last season and were the league’s best numbers since 2015, according to Nielsen data. The average audience for regular-season games was 17.1 million viewers, compared with 15.6 million in the 2020 regular season. Last season was marred by the Covid-19 … Read more

U.S. Inflation Reaches Fastest Pace Since 1982

U.S. inflation closed out 2021 at its highest level since 1982 as robust consumer demand exacerbated pandemic-related supply shortages. The Labor Department said the consumer-price index—which measures what consumers pay for goods and services—rose 7% in December from the same month a year ago, up from 6.8% in November. That was the fastest pace since … Read more

Federal Judge Rejects Facebook’s Request to Dismiss FTC’s Latest Antitrust Lawsuit

Meta Platforms, previously known as Facebook, had sought to have an amended federal antitrust lawsuit dismissed. Photo: Constanza Hevia H. for The Wall Street Journal Updated Jan. 11, 2022 3:44 pm ET WASHINGTON—A federal judge on Tuesday ruled the Federal Trade Commission can move forward with its revised antitrust case alleging Meta Platforms Inc.’s Facebook … Read more

Powell Faces Senate Questions Over Fed Plans to Contain Inflation

Federal Reserve Chairman Jerome Powell is expected to win a second term leading the central bank but must first face a grilling Tuesday at his Senate confirmation hearing after pivoting recently to tighten policy to combat inflation. When annual inflation readings began to rise above 4% last summer, Mr. Powell told lawmakers that it would … Read more

Facebook’s Former Elections Boss Now Questions Social Media’s Impact on Politics

Katie Harbath joined Facebook FB -0.20% more than a decade ago as the first Republican employee in the company’s Washington, D.C., office, pushing skeptical members of Congress on the virtues of the young social network for healthy elections. Now she is pitching a different message. After rising to become Facebook’s public-policy director for global elections, … Read more