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Pay and price pressures are easing, but is it enough for the Fed?

Plus, high-level departures from Goldman Sachs threaten the CEO's vision.

People working at asset management and especially those who have been working within this division for a long time,

they're seeing that the turnover is already raising questions with some clients

and there are concerns that it could lead to bigger problems.

And how the heat in Houston is taking an economic toll.

It's Friday, July 28th.

I'm Ann Marie for Toley 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.

Pay and price pressures showed fresh signs of retreating from the economy,

adding to evidence that inflation is moving closer to the Federal Reserve's goal.

The Labor Department said employers spent 4.5% more on wages and benefits in the latest quarter,

as compared to a year earlier and in a slowdown from the prior quarter.

Separately, the Commerce Department said the personal consumption expenditures price index,

that is the Fed's preferred gauge of inflation, rose 3% in June from a year earlier.

...