Walmart plans to raise prices because of tariffs, and other retailers will likely follow.

A lot of companies imported ahead of tariffs so that stores and their suppliers are still working through that supply.

But Walmart is saying that era is coming to an end.

And Fed Chair Jerome Powell speaks of a new strategy for the central bank in a world where

very low interest rates are not guaranteed.

Plus, how Chinese money launderers are flooding U.S. banks with bags of cash from drug cartels.

It's Thursday, May 15th.

I'm Pierre Bien-Ame for the Wall Street Journal, filling in for Alex Oslo.

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

Trade war price increases are coming for American shoppers.

Walmart says it will raise prices in response to tariffs.

The retail giant, which counts 90% of

Americans as customers, is the biggest company so far to signal price hikes because of tariffs.

Sarah Nassauer writes about large retailers for the Wall Street Journal. She says Walmart's price

increases stand to ripple through the retail industry and the U.S. economy. So Walmart this morning,

when it reported earnings, said that right now they're in the process of raising prices because

of tariffs and that there will be more to come on their shelves. And that was a pretty significant

moment because they're, you know, a huge retailer where most American shop, at least sometimes,

and they're just acknowledging that this is coming.

It's significant for other retailers as well, because Walmart is one of the biggest, and, you know,

they're going to sort of set the tone. So they're saying this, that means other retailers are

probably going to have similar approaches. The other aspect of this is that it doesn't mean that just because

...