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The fast-food chain is installing self-help kiosks at 1,000 restaurants this year, the Associated Press reports. This is the sort of anecdote brandished by those who warn of the effects of automation on the labor market. But if there were automation invading the American labor market, business would be producing more with fewer workers, and the data is saying they're not — at least yet.

Something has to give: According to Jim O'Sullivan of High Frequency Economics, who says that high stock valuations — the Dow will shoot for its 12th straight record close Monday — and measures of consumer and business confidence in recent surveys cannot exist beside a Washington D.C. that gets little done.

Investors of the edges of their seats: Treasury Secretary Steve Mnuchin told Fox News Sunday that President Trump will address tax reform during his speech on Tuesday, and that the forthcoming budget won't cut entitlement programs. This appears to limit the ability to propose big, stimulative tax cuts to workers and businesses, but Wall Street will be hungry for specifics.

Go deeper

Updated 1 hour ago - Economy & Business

The billionaire balloon

Data: World Inequality Report 2022; Chart: Axios Visuals

The super-rich are getting stupid rich: New data out today shows the share of global wealth held by the richest slice of humanity swelled by almost a full percentage point during the pandemic.

Driving the news: The top 0.01% of individuals now hold about 11% of the world's wealth, compared to just over 10% in 2020, according to the "World Inequality Report 2022," written by Lucas Chancel, Thomas Piketty, Emmanuel Saez and Gabriel Zucman.

Tina Reed, author of Vitals
1 hour ago - Health

Omicron gives a shot to boosters

Expand chart
Data: CDC; Chart: Will Chase/Axios

Vaccination rates have ticked higher since the discovery of the Omicron variant, CDC data shows.

By the numbers: The seven-day average for vaccinations in the U.S. reached about 1.8 million on Monday, up from an average of about 1.3 million a month ago.

Scoop: Over 200 papers quietly sue Big Tech

Illustration: Allie Carl/Axios

Newspapers all over the country have been quietly filing antitrust lawsuits against Google and Facebook for the past year, alleging the two firms monopolized the digital ad market for revenue that would otherwise go to local news. 

Why it matters: What started as a small-town effort to take a stand against Big Tech has turned into a national movement, with over 200 newspapers involved across dozens of states.