Imani Moise

It's Wednesday, April 8th.

I'm Imani Moise for The Wall Street Journal, filling in for Alex Osola.

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

The U.S.

and Iran reached a ceasefire agreement, but it's clear that the two sides remain far apart on many issues.

Since the deal was announced, there's been conflicting reports about the status of the Strait of Hormuz and continued strikes in other parts of the Middle East.

WSJ national security reporter Shelby Holliday is here to walk us through the latest.

And Iran is saying that participating in this weekend's talks hinges on a ceasefire in Lebanon.

But Israel is continuing to strike Hezbollah in Lebanon.

So what happens next?

That was WSJ National Security Reporter Shelby Holliday.

Thanks, Shelby.

Thank you.

Minutes from the Federal Reserve's March meeting show officials are getting more concerned about slow progress toward lowering inflation to its 2% goal.

And the war in the Middle East is elevating the risks.

A majority of officials still continue to pencil in at least one interest rate cut this year.

Wall Street analysts seem to be getting worse at forecasting one of the most important economic indicators.

They undershot job gains by 75,000 in January, predicted an increase in February when job numbers fell sharply, and last month they struck out again, missing the mark by more than 100,000.

WSJ economics reporter Matt Grossman joins us now to explain why economists say forecasting jobs numbers has never been harder.

So Matt, why is it getting more difficult to forecast jobs?