Luke Vargas

Carney has said his meeting with Trump would mark the start of negotiations to recast the economic and security relationship between the countries. Let's head to Germany now, where conservative leader Friedrich Merz's bid to become the country's next chancellor failed in parliament this morning, a surprise outcome in a vote that he had been expected to win smoothly.

Carney has said his meeting with Trump would mark the start of negotiations to recast the economic and security relationship between the countries. Let's head to Germany now, where conservative leader Friedrich Merz's bid to become the country's next chancellor failed in parliament this morning, a surprise outcome in a vote that he had been expected to win smoothly.

The unprecedented development puts Europe's political leadership in disarray at a time when Merz had hoped to present a strong front as the continent contends with economic and security threats. Matthias Diehling is an assistant professor of political science at Trinity College Dublin. This vote has just occurred here. What do we know about how all of this unfolded? How did this happen?

The unprecedented development puts Europe's political leadership in disarray at a time when Merz had hoped to present a strong front as the continent contends with economic and security threats. Matthias Diehling is an assistant professor of political science at Trinity College Dublin. This vote has just occurred here. What do we know about how all of this unfolded? How did this happen?

All right. So what comes next here? And what is the significance of all of this for Europe? The EU, for instance, is expected today to be discussing the bloc's response to U.S. tariffs. There are also, of course, security concerns as the bloc looks to rearm. A tricky time for Germany to be lacking leadership.

All right. So what comes next here? And what is the significance of all of this for Europe? The EU, for instance, is expected today to be discussing the bloc's response to U.S. tariffs. There are also, of course, security concerns as the bloc looks to rearm. A tricky time for Germany to be lacking leadership.

Matthias Diehling is an assistant professor of political science at Trinity College Dublin. Matthias, thank you so much for being with us on What's News. Thank you for having me. Coming up, the Federal Reserve and corporate America struggle with the economic outlook amid changing trade winds and why empty offices could mean higher tax bills for you and me. That's after the break.

Matthias Diehling is an assistant professor of political science at Trinity College Dublin. Matthias, thank you so much for being with us on What's News. Thank you for having me. Coming up, the Federal Reserve and corporate America struggle with the economic outlook amid changing trade winds and why empty offices could mean higher tax bills for you and me. That's after the break.

Federal Reserve officials are gathering this morning to kick off a two-day policy meeting with markets watching how the central bank will react to the rollout of President Trump's tariff policy. Deputy Finance Editor Quentin Webb says the Fed is expected to hold rates steady for now as it faces a potentially lose-lose scenario, either trying to navigate a recession

Federal Reserve officials are gathering this morning to kick off a two-day policy meeting with markets watching how the central bank will react to the rollout of President Trump's tariff policy. Deputy Finance Editor Quentin Webb says the Fed is expected to hold rates steady for now as it faces a potentially lose-lose scenario, either trying to navigate a recession

or manage a period of stagflation.

or manage a period of stagflation.

And for more insights into the U.S. economy, check out the latest episode of WSJ's Take on the Week, which features former Kansas City Fed Chair Robert Kaplan, who has the inside scoop on the Fed's thinking. Take a listen on WSJ.com or wherever you get your podcasts. And finally, Boston is facing a budgetary dilemma that could be a canary in the coal mine for other U.S. cities.

And for more insights into the U.S. economy, check out the latest episode of WSJ's Take on the Week, which features former Kansas City Fed Chair Robert Kaplan, who has the inside scoop on the Fed's thinking. Take a listen on WSJ.com or wherever you get your podcasts. And finally, Boston is facing a budgetary dilemma that could be a canary in the coal mine for other U.S. cities.

At the root of the problem is a decline in office values, some of which have tumbled by 50 percent in recent years as vacancy rates keep ticking higher.

At the root of the problem is a decline in office values, some of which have tumbled by 50 percent in recent years as vacancy rates keep ticking higher.

That's proved especially painful for Boston, which gets a greater share of revenues from commercial property taxes and specifically offices than any city in the country, leading it to send tens of thousands of homeowners bigger than expected tax bills in order to make ends meet. stirring up election year frustration directed at Mayor Michelle Wu.

That's proved especially painful for Boston, which gets a greater share of revenues from commercial property taxes and specifically offices than any city in the country, leading it to send tens of thousands of homeowners bigger than expected tax bills in order to make ends meet. stirring up election year frustration directed at Mayor Michelle Wu.

According to a study of 13 of the largest U.S. office markets by the Urban Brookings Tax Policy Center, commercial property tax revenues could decline by as much as 3 percent by 2031. And that's it for What's News for this Tuesday morning. Today's show was produced by Kate Boulivant and Daniel Bach. Our supervising producer is Sandra Kilhoff. And I'm Luke Vargas for The Wall Street Journal.

According to a study of 13 of the largest U.S. office markets by the Urban Brookings Tax Policy Center, commercial property tax revenues could decline by as much as 3 percent by 2031. And that's it for What's News for this Tuesday morning. Today's show was produced by Kate Boulivant and Daniel Bach. Our supervising producer is Sandra Kilhoff. And I'm Luke Vargas for The Wall Street Journal.