PRESS DIGEST -Wall Street Journal - August 21
Aug 21 (Reuters) - The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy.
- McDonald's MCD.N will cut combo-meal prices by 15% and launch $5–$8 value deals after reaching an agreement with franchisees, aiming to restore its affordability image amid inflation-weary consumers.
- Hertz HTZ.O will begin selling its used cars through Amazon's AMZN.O automotive marketplace, expanding retail access and boosting margins as part of a broader push to offload vehicles directly to consumers.
- Meta META.O has frozen hiring across its AI division amid a major restructuring, following a costly talent spree and investor concerns over soaring compensation and unclear returns on its superintelligence ambitions.
- U.S. President Donald Trump is intensifying pressure on Fed Chair Jerome Powell to cut interest rates, launching personal attacks and public confrontations, while Powell remains focused on preserving the Fed's independence and credibility amid political and economic turbulence.
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