The Federal Reserve pushed interest rates above 5% a year ago, determined to achieve two things: much lower inflation and a cooler labor market.

It has succeeded. Inflation, by its preferred gauge, has fallen from 4.3% then to an estimated 2.6% now, the steepest decline since 1984, and within shouting distance of the Fed’s 2% target. Meanwhile, the unemployment rate has risen to 4.1% from 3.6%, an increase seldom seen outside recessions.

The Fed seems reluctant to take the win. This week Fed Chair Jerome Powell refused to say when, or if, the Fed would cut interest rates, New York Fed President John Williams said he needed more data, and Fed governor Chris Waller merely acknowledged a cut was “getting closer.” Markets expect a cut in September.

Below, some of the best analysis and insight from WSJ writers and columnists, the Dow Jones Newswires team and occasionally beyond, on investing, the wealth-management business and more.

The enthusiasm for Saudi exposure comes as China’s equities markets are struggling to draw interest.

From Dow Jones Newswires

The European Central Bank's interest-rate cut in June was driven by improving growth and inflation prospects, but with a now worsening outlook and the risk that inflation is taking longer to return to target, a September cut is anything but certain, ING economist Carsten Brzeski says. The press conference following the ECB's rate decision confirms that, at least for now, the central bank has given up on forward guidance, emphasizing no preset plan for the September meeting, he says in a note. "As we think that inflation will remain sticky and it actually needs a further weakening of demand to structurally bring inflation back to target, there is not a lot of room for maneuver for the ECB in the coming months," Brzeski adds, penciling a 50% chance of a rate cut in September. ([email protected])

CIBC Capital Markets revises its economic forecast for Canada, with the most notable change being an uptick in the unemployment rate. Previously, CIBC had the unemployment rate peaking at 6.4%--which is where it sits now. But, CIBC now believes Canada's unemployment rate will peak at 6.6% in 3Q. Chief economist Avery Shenfeld tells WSJ the change reflects faster-than-expected population growth, fueled by immigration, which meant the economy has a tougher task absorbing all those new entrants to the labor force. "We aren't seeing the pickup in growth we would need to achieve that," Shenfeld says. The Bank of Canada's business-outlook survey this week signaled a sharp softening in labor-market conditions, with only 15% of Canadian firms reporting labor shortages, or less than half the long-term average. ([email protected]; @paulvieira)

With no negotiations scheduled, the Sept. 30 expiration of a contract at East Coast and Gulf Coast seaports is nearing.

Move follows similar retreat by Tractor Supply as more companies face criticism over DEI.

Crypto-based prediction platform Polymarket experiences record volumes due to flood of bets on the U.S. election.

Fans say allowing rabbits to choose their own mates can lead to happier relationships. ‘Pick him, pick him.’

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The Wealth Adviser Briefing covers topics of interest to wealth managers, financial planners and other advisers. The content is curated by the Dow Jones Newswires team using articles from the Newswires, Barron's, MarketWatch and The Wall Street Journal. The briefing is delivered to subscribers by email each workday morning at 6:30 a.m. ET. You can sign up here for email delivery. 

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