House Republicans will be urged to lean into voters' fear of inflation and link it to enacting the White House's economic agenda, Axios has learned.
Why it matters:A memo being sent by Rep. Jim Banks (R-Ind.), who leads the Republican Study Committee, comes as some economists are increasingly concerned President Biden is doing too much, too fast, and his spending will crank up inflation.
The Federal Reserve's efforts to create jobs will naturally benefit Wall Street even if it's not the priority, Atlanta Federal Reserve Bank president Raphael Bostic told Dion Rabouin in an "Axios on HBO" interview.
"For us to succeed in the jobs side, there's also going to be success on the wealth side. You can't get one without the other."
The big picture: Bostic told "Axios on HBO" that he focuses on "getting as many people a job as possible."
CNN has dropped Rick Santorum as a senior political commentator amid controversy over recent disparaging remarks the former senator made about Native Americans.
Driving the news: Speaking at a Young America's Foundation event last month, Santorum said, "We birthed a nation from nothing — I mean, there was nothing here. I mean, yes, we have Native Americans, but candidly, there isn't much Native American culture in American culture."
An attorney for the owner of the skyscraper-sized container ship Ever Given argued on Saturday that Suez Canal operators were at fault for the ship's grounding, according to Reuters.
Why it matters: The ship is currently detained in Egypt as the Suez Canal Authority (SCA) attempts to secure a $916.5 million claim against its Japan-based operator, Shoei Kisen. An Egyptian court is expected to make a decision the claim on Sunday, per Bloomberg.
Breeze Airways announced this week that it will begin flying on May 27 with flights mostly in the southeastern and central United States, AP reports.
The state of play: Customers can start scheduling flights to and from specific airports in Virginia, Florida, Connecticut, South Carolina, Ohio, Alabama, Louisiana, Oklahoma, Pennsylvania, Rhode Island and Arkansas, according to the company's website. Flights start at $39 one way.
The current housing market looks a bit like a game of increasingly competitive musical chairs: not enough homes for everybody who wants to claim one.
Why it matters: The latest snapshot of the housing market shows how trends that predate the pandemic — a shortage of skilled labor and growing demand for homes — have been hyper-charged over the past year.
Why it matters: The Pew study findings show how the coronavirus pandemic heavily impacted the media industry over the past year. The number of layoffs exceed those from 2019, when one quarter of large newspapers experienced layoffs.
The venture capital industry successfully adjusted to the new normal, and even thrived, after an initial period of pandemic paralysis.
Why it matters: Many feared the crisis would wreck large swaths of startups. Instead, 2020 birthed a new cohort of companies shaping how we live and work in entirely new ways — especially since they matured during a period of societal shifts.
