P.M. Edition for Feb. 13. Annual inflation <a href="https://www.wsj.com/economy/consumers/cpi-inflation-report-january-2026-65833c36?mod=WSJ_WNPOD">slowed to 2.4%</a> in January, more than economists expected. WSJ chief economics commentator <a href="https://www.wsj.com/news/author/greg-ip?mod=WSJ_WNPOD">Greg Ip</a> discusses how this is affecting consumers, and what it means for the Federal Reserve. Plus, it’s rare to get a granular look at a billionaire’s finances. Journal economics reporter <a href="https://www.wsj.com/news/author/rachel-louise-ensign?mod=WSJ_WNPOD">Rachel Ensign</a> tells us what she learned about <a href="https://www.wsj.com/finance/inside-a-5-billion-fortune-one-familys-ledger-in-the-epstein-files-23455b75?mod=WSJ_WNPOD">Leon Black’s financial life</a> from documents in the Jeffrey Epstein files. And, barring an unlikely last-minute deal, the Department of Homeland Security is <a href="https://www.wsj.com/politics/policy/homeland-security-government-shutdown-e6ee00c5?mod=WSJ_WNPOD">expected to shut down</a> overnight. If it lasts, it might mean longer security lines at airports. Alex Ossola hosts.

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