Jeffrey Sparshott

[Mary C. Daly @MaryDalyEcon]

Holding policy too tight can cause undue harm to American families and leave them with two problems: above-target inflation and a weak labor market.

Congress gave us two goals. And our job is to meet both of them. Recent policy decision puts us in a good place to achieve that.

[Mary C. Daly @MaryDalyEcon]

But it matters how you get there. This means we cannot let the labor market falter. Real wage gains come from long and durable expansions. And the current expansion is still relatively young, as shown in this chart.

[Mary C. Daly @MaryDalyEcon]

This chart shows the damaging cost of high inflation. It has chipped away at real earnings and weakened household purchasing power. Many Americans are still trying to catch up.

So, the FOMC must continue to bring inflation down. Anything other than 2% is not an option.

[Mary C. Daly @MaryDalyEcon]

This week’s FOMC decision was not an easy choice. Our goals are in conflict. Inflation is above target, the labor market is softening, and there are risks to both sides of our mandate—maximum employment and price stability.

Two charts explain why I ultimately favored a rate cut.

[Mary C. Daly @MaryDalyEcon]

It will soon be time to recalibrate policy to better match our economy.

Congress has given the Fed two goals: full employment and price stability. Both are in tension at the moment, with tariffs pushing inflation higher and the labor market showing signs of slowing.

[Judy Woodruff @JudyWoodruff]

sad to see another legacy news organization disappear: WCBS 880 radio in NYC. Thanks to Tom Jones @Poynter for sharing anchor Wayne Cabot's final words: "With each closing newspaper, radio newsroom, TV newsroom, magazine, now even digital news operations, the country we love is diminished. So as we leave the news eco-system after 57 years of all news and 100 years of service on New York radio, we implore you to find that next trusted source. Use it. Support it. In word and in deed. It is the most patriotic thing you can do."

[Jeffrey Sparshott @jeffsparshott]

This is truly great news.

[Bloomberg Politics @bpolitics]

Russia is releasing Wall Street Journal reporter Evan Gershkovich and former US Marine Paul Whelan in a major multi-country prisoner swap https://t.co/cqHbRYS0U9

[Jeffrey Sparshott @jeffsparshott]

@EconBerger I’m angry at myself for remembering this: Living in a Box

[Tim Hanrahan @TimJHanrahan]

What is the Wall Street Journal. …

#freeevan

[Jeffrey Sparshott @jeffsparshott]

@BrendonBernard_ https://t.co/44spl2fPZ9

[Jeffrey Sparshott @jeffsparshott]

@ModeledBehavior @tylercowen Why do you say entrepreneurship is down? https://t.co/6f3GJXbSQT

[Jeffrey Sparshott @jeffsparshott]

@marthagimbel Congratulations! Also, this is amazing:

[Byron Tau @ByronTau]

Powerful @WSJ front page today — a reminder that American reporter @evangershkovich has been unjustly detained by Putin's Russia for a full year and the world has been denied his incisive and in-depth reporting. #FreeEvan

[Jeffrey Sparshott @jeffsparshott]

@ewstephe @TheAssemblyNC Congratulations Emily!

[Byron Tau @ByronTau]

It's publication day for Means of Control. https://t.co/aire1PgBYq

Here it is at every stage. From left to right: June 2021 book proposal, Jan 2022 outline and reporting plan, October 2022 first draft, Fall 2023 galley and then the finished book. On shelves today!

[Byron Tau @ByronTau]

Lots of good people are out of jobs today in the @WSJ DC bureau. And really, for no discernible reason given that the WSJ and its parent companies have seen record profits. A totally bleak, depressing and dispiriting start to 2024 for media.

[Andrew Restuccia @AndrewRestuccia]

So many talented and hardworking WSJ editors and reporters were laid off today in Washington. Our bureau will never be the same. Please hire them! Our tremendous loss can be your gain.

[Dustin Volz @dnvolz]

The @WSJ DC bureau is the most talented, collaborative and genuinely kind place I have ever worked. That’s because of all of the great people who called it home.

We lost so many tremendous reporters and editors today. Each would be a great addition to any newsroom. Hire them.

[Rebecca Ballhaus @rebeccaballhaus]

The @WSJ DC bureau lost so many talented, wonderful reporters today. The bureau was my home for eight years and every reporter there is brilliant, deeply sourced, generous and hard-working. They all deserve to be hired immediately.

[Vivian Salama @vmsalama]

Still processing what I witnessed today: dozens of brilliant WSJ reporters & editors, one after another, packing their desks & heading out the door. My only hope is they walked out into a world that will reward them for their vital contributions to journalism. Please hire them!