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WSJ What’s News

Can Cheaper Gas Tame U.S. Inflation?

WSJ What’s News

The Wall Street Journal

News, Daily News

4.14.2K Ratings

🗓️ 14 November 2023

⏱️ 15 minutes

🧾️ Download transcript

Summary

A.M. Edition for Nov. 14. Fresh U.S. consumer-price data is due out this morning, with economists expecting lower gasoline prices took a bite out of overall inflation. Plus, WSJ reporter Jennifer Hiller explains why electricity demand is soaring in pockets of the country. And Washington puts a price tag on climate change’s economic damage. Luke Vargas hosts. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

The House considers a government funding plan with just days left before a potential shutdown.

0:10.0

Plus electricity demand surges from Virginia to the Lone Star State.

0:15.0

We use a lot of AC in Texas and that's some of it, but a bigger trend going on is a lot of

0:21.0

manufacturing growth and a lot of reshoring.

0:23.4

And Washington puts a price tag on climate changes economic damage.

0:28.0

It's Tuesday, November 14th.

0:30.2

I'm Luke Vargas for the Wall Street Journal and here is the AM edition of What's News?

0:35.4

The top headlines and business stories moving your world today. With just days to go before a potential US government shutdown, the House today is preparing

0:50.7

for a possible vote on extending government funding through early next year.

0:55.4

It's a major test for new speaker Mike Johnson,

0:58.8

who's pitching a plan to fund some federal agencies through mid-January and others until early February, while

1:05.4

lawmakers hash out full-year plans.

1:08.4

However, Johnson has precious little wiggle room, given Republicans narrow control of the House and considering that

1:14.7

a handful of GOP lawmakers have already come out against the deal.

1:19.2

So could a shutdown be in the cards?

1:22.4

Journal editor Alex Frangos is here now with a look at how markets at least are pricing in that possibility.

1:28.0

Alex, tell us what's the sentiment on Wall Street several days out from a potential shutdown?

1:32.0

Well, we're really coming off of a pretty big rally in stocks the last week or so.

1:36.5

And certainly in the bond market side of things, there seems to be some relative com.

1:39.7

So there's a not super amount of worry about what might happen.

1:43.8

This is different from the debt ceiling disagreement

1:47.0

earlier this year when there was concern

...

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