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J.P. Morgan Chase says the U.S. economy has reached its long sought after soft landing.

And why some companies are trying to lure back customers with discounts.

We're in this cycle where inflation is cooling, right, and it's getting less intense.

However, for most things that most of us need to buy, prices are still higher than they were

before the pandemic.

Plus, a new report alleges Donald Trump send COVID-19 testing equipment to Russia at the height of the

pandemic.

It's Friday, October 11th, I'm Tracy Hunt for the Wall Street Journal. This is a PM edition of What's News,

the top headlines and business stories that move the world today.

You know that soft landing we've been hearing about, the one the Federal Reserve

was trying to achieve for the economy? Well J.P. Morgan Chase, the country's

biggest bank, is calling it. The U.P. Morgan Chase, the country's biggest bank, is calling it.

The U.S. economy has made a soft landing.

In its third quarter earnings report released today, J.P. Morgan said the U.S. economy remained strong for both consumers and big companies

with lower inflation and healthy growth. Our banking reporter Gina Heeb joins us now.

Gina, why does J.P does JPMorgan believe we've reached this soft

landing? So the Fed has been walking very fragile ground over the past few years.

It sought to tame inflation through these really aggressive interest rate hikes, but the trick is they don't want to slow it too much and cause a recession.

...