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Israel and Hamas have agreed to a ceasefire in Gaza.

There was no other way for this war to end than with a hostage deal.

And I'm deeply satisfied.

This day has come, finally come, for the sake of the people Israel and the families waiting in agony.

And for the sake of the innocent people in Gaza,

who suffered unimaginable devastation because of the war.

And U.S. inflation ticked higher in December.

What does that mean for the Fed?

Plus, big banks posted big fourth quarter profits.

It's Wednesday, January 15th.

I'm Alex Sosl for the Wall Street Journal.

This is the PM edition of What's News, the top headlines and business stories that move the

world today. After 15 months of war, Israel and Hamas have agreed to pause their fighting in the

Gaza Strip. For months, the warring parties faced a fundamental divide.

Israel wanted to get its hostages back and then continue the war,

while Hamas didn't want to release captives unless it meant an end to the conflict.

But now the two parties have been able to bridge that gap.

...