Money Is Flying Out of Private Credit. That’s Bad News for Wall Street.

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  you Money is pouring out of private credit and some investors are finding it's complicated to pull their cash.

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  Redemption started to go up and then all of a sudden investors,

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  at least some of them, woke up to the fact that,

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  oh, wait, I might not be able to get all my money out when I want it.

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  I better put in for it now.

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  And then it just kind of built and built.

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  Plus,

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  a federal judge throws out subpoenas issued to the Federal Reserve in a heavy blow to the Justice Department's criminal investigation into Jerome Powell.

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  And the Pentagon is moving more.

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  troops and ships to the Middle East.

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  It's Friday, March 13th.

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  I'm Alex Osola for The Wall Street Journal.

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  This is the PM edition of What's News,

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  the top headlines and business stories that move the world today.

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  Two data points are out today from the Commerce Department on the U.S.

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  economy.

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  GDP for the end of last year was revised down to 0.7 percent growth,

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  well short of the 1.4 percent pace initially reported.

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  And the personal consumption expenditures price index,

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  the Fed's preferred measure for inflation, was 2.8 percent in January.

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