From Reuters:

The Wall Street Journal's influential Federal Reserve reporter will quit the newspaper next month, the latest high-level departure since News Corp bought the Journal last year. Greg Ip will join The Economist magazine as U.S. economics editor, he told Reuters on Tuesday, after covering the Fed since 2001 for the Journal. He likely will join the weekly in late July, he said. At The Economist he will be responsible for writing and reporting on the U.S. economy and economic policy, including the Federal Reserve, he wrote in an e-mailed statement.