WSJ What’s News How America Fell in Love With Cocaine Again
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Sep 17, 2025 Cocaine use is surging in the U.S., fueled by record production and smuggling routes from Mexican cartels. Policies from the Trump administration may have contributed to this rise. Meanwhile, the Federal Reserve's recent interest rate cut is shifting focus towards inflation management and employment. The growing economic divide is highlighted, with wealthy homeowners and younger, lower-wage workers facing stark disparities in growth, as rising home values and stagnant wages widen the gap.
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Fed Cuts Reflect Labor-Market Concerns
- The Fed cut interest rates by a quarter point and signaled likely additional cuts this year.
- WSJ sees the move as a response to softening job creation and shifting risks to labor-market weakness.
Fed Will Trade A Bit More Inflation For Jobs
- The Fed is tilting toward tolerating higher inflation to protect employment.
- Spencer Jakab notes the ambiguity is fading as the Fed prioritizes nipping labor-market weakness.
Strange Fed Meeting Raises Politicization Risk
- The recent Fed meeting was unusually politicized and strange, with a potentially conflicted new governor.
- Jakab warns this raises questions about future politicization and long-term policy uncertainty.