Big in Business: Tillerson
1) Exxon CEO Rex Tillerson's confirmation hearing begins today
With no government experience, Tillerson will qualify for the State Department based on his business record, which isn't without blemishes. Since Tillerson took the helm at Exxon in 2006, its stock has lagged behind the market as well as rival Chevron, and Tillerson has admitted to failing to predict or capitalize on the shale revolution.
2) Jack Lew urges Trump Administration to adopt more nuanced trade policy stance on China
Despite Trump's accusations of currency manipulation, China has actually been working overtime to support the value of the yuan. With so many important bilateral trade issues to negotiate, Trump should not squander time and good will with false accusations, Lew argued in an interview with the Wall Street Journal.
3) The hedge fund industry could have a voice in the White House
Skybridge Capital's Anthony Scaramucci told Bloomberg News that he may take a job working with Jared Kushner and Steve Bannon in an advisory role in the administration. Scaramucci is one of the most well-connected figures in the hedge fund world, serving as chair of the industry's well-attended S.A.L.T. conference. He can be expected to reliably advocate for big investors' interests in Washington.
4) What we're watching: Atlanta Fed releases monthly business inflation expectations
Higher expectations of inflation could be an indication of pending business investment, as businesses seek to avoid higher prices down the road.