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Labor strikes hit Hollywood,

plus a Florida oversight board countersus Disney

and the Fed considers its next rate move against a backdrop of banking volatility.

When you raise interest rates, it takes a while for that to transmit through to economic activity.

So what the banking stress is doing here is it's creating potentially another source of lagged,

tightening effects on the economy.

It makes it even more difficult to figure out if you've done enough.

It's Tuesday, May 2. I'm Luke Vargas with The Wall Street Journal

and here is the AM edition of What's News,

the top headlines and business stories moving your world today.

Hollywood writers have gone on strike after talks with studios, streamers, and networks broke down last night.

The writers' guild of America, the Union representing movie and television writers,

made that decision after both sides failed to agree on a new contract by Monday night's deadline.

Joe Flint, our entertainment reporter in LA, says that many of the issues dividing the sides

relate to the growth of streaming platforms, which have upended the traditional business model of producing television.

We are certainly in a golden age of content and there's never been more TV shows on or more platforms available to write for them.

And the folks who make all that TV argue that, you know, this is a great time to be a writer.

...