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WSJ What’s News

Gasoline Prices Drive Inflation to Highest Level in Two Years

WSJ What’s News

The Wall Street Journal

Daily News, News

4.14.2K Ratings

🗓️ 10 April 2026

⏱️ 14 minutes

🧾️ Download transcript

Summary

P.M. Edition for April 10. The first major inflation report since the start of the Iran war showed consumer prices rose 3.3% last month from a year earlier. WSJ economics reporter Konrad Putzier discusses the risks of a prolonged run-up in energy prices and what the energy shock means for the Federal Reserve. Plus, the U.S. and Iran gear up for what will be their highest-level talks in decades this weekend. We hear from reporter Laurence Norman about the leverage each side has going into the negotiations. And, in an exclusive, we report that President Trump has promised staffers mass pardons before he leaves office. Alex Ossola hosts.  Sign up for the WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Access to affordable credit helps me pay my employees, but I don't really need it.

0:05.0

Infliction is killing me!

0:08.0

But who cares? Big retailers are making record profits!

0:12.0

That's why we support the Durban Marshall Credit Card Bill!

0:15.0

See? Banks and credit unions help small businesses make payroll.

0:18.0

This bill would cut the vital resources they need.

0:24.4

While increasing megastore profits, they deserve it.

0:25.1

Don't they?

0:29.1

Tell Congress, stop the Durban Marshall money grab for corporate megastores.

0:31.3

Paid for by the Electronic Payments Coalition.

0:38.3

Inflation rises to its highest level in two years. Plus, Iran is holding strong cards ahead of peace talks with the U.S. this weekend in Pakistan.

0:44.3

So the Iranian's biggest leverage now is their control of the Strait of Hormuz.

0:49.3

That is a huge economic problem for the rest of the world. And it's going to be pretty difficult

0:55.5

to rest control from Iran militarily. And the astronauts that saw the far side of the moon

1:01.7

prepare for the toughest part of their mission. It's Friday, April 3rd. I'm Alex O'Slef for the

1:07.5

Wall Street Journal. This is the PM edition of What's News, the top headlines and business stories that move the world today.

1:17.7

First up on today's show, the promise of a presidential pardon. We're exclusively reporting that President Trump has repeatedly said he will grant pardons to his top administration officials before he leaves

1:28.7

office. That's according to people who have heard his comments. In a recent meeting, he said he'd

1:33.7

pardon everyone who, quote, has come within 200 feet of the Oval. Several aides said Trump raises the

1:39.6

pardon so regularly that some of his advisors now laugh about it. White House Press Secretary Caroline

1:45.2

Levitt said, quote, the Wall Street Journal should learn to take a joke. However, the president's

1:49.6

pardon power is absolute. New data out from the Labor Department today showed that consumer

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