President Biden will meet with financial regulators on Monday.
Driving the news: "The meeting will cover regulatory priorities including climate-related financial risk and agency actions to promote financial inclusion and to responsibly increase access to credit," said press secretary Jen Psaki, according to a press pool report.
Who gets paid time offto celebrate Juneteenth in the years to come will be uneven and complicated, if history is any guide.
Why it matters: Corporate America hasn't grappled with a new federal holiday since Martin Luther King Jr. Day was authorized almost 40 years ago. How they responded took years to evolve.
A new book by Bloomberg reporter Saleha Mohsin will explore the strong dollar policy and how it has shaped the nation as we know it.
Why it matters: The strong dollar "paved the way to extreme prosperity for some and stagnation for others, creating populist discontent while upholding democratic superpower status—both at home and abroad," an announcement for the book will read.
More than 800 U.S. companies offered employees a paid day off Friday for the newly established Juneteenth federal holiday, Reuters reports.
Why it matters: President Biden signed legislation late Thursday making Juneteenth a federal holiday, leaving many U.S. companies rushing to create policies for workers to take the day off.
Ahead of Juneteenth, now a federal holiday, Axios Re:Cap examines how America's economy remains marred by the legacies of slavery and racial discrimination.
Listen: We're joined by McKinsey & Co.’s Shelley Stewart III and Michael Chui to discuss a new report that digs into the economic inequities between Black and white Americans, including massive wage and wealth gaps, and what can be done to address them.
Shohei Ohtani's trading card value has risen 781% since the start of 2021, the highest year-to-date return of any athlete on Alt, a sports card exchange that aims to bring more liquidity to alternative assets.
Why it matters: The trading card market is the closest thing we have to a stock market for sports.
Americans who feel priced out of the surging housing market have until now been able to take solace in one thing: if they can't buy, at least they can rent. But that might be changing.
Why it matters: Rents have been growing fast enough to keep investors happy in the face of a major pandemic, but not — yet — so much as to become unaffordable. Rent increases average about 2.5% per year in multifamily units, per Yardi Matrix, while Zillow shows rents nationally up 1.5% from a year ago.
In the fog of all the takes on the Fed's rate liftoff timeline this week, chair Jerome Powell's view of the labor market got relatively little attention.
The big picture: At Wednesday's press conference, Powell continued to express confidence in strong employment growth throughout the rest of the year — along with a dose of humility about the forecasting.
Although the U.S. economy is well into a recovery from the depths of the COVID-19 crisis, there’s been plenty of news along the way that could have battered markets or led to a more sustained correction. But so far, that hasn’t happened.
Why it matters: The equity market still has almost blind faith that the Federal Reserve will bail it out in a time of crisis, and, increasingly in the belief that the current bout of inflation will be largely temporary.
As we prepare for tomorrow's federal Juneteenth holiday, commemorating the emancipation of enslaved Americans in Texas, our economy remains marred by the legacy of slavery and subsequent discrimination.
The big picture: This is particularly evident in the enduring wealth gap between Black and white Americans, and in how Black Americans broadly participate in the U.S. economy.
Nielsen on Thursday introduced a new metric for measuring how many people watch streaming video and for how long.
Why it matters: Streaming is exploding, but the industry has long lacked a uniform way to measure consumption, and that has held it back from being able to integrate advertising.
Federal Reserve Chairman Jerome Powell faces a long, hot summer audition for a second term, with senators watching and weighing his response to potential signs of inflation.
Why it matters: The financial system's chief is one of the most powerful in the world. President Biden hasn’t given any public indication whether he’ll renominate Powell, but Democrats close to the administration say there's a chance he'll make an announcement by Labor Day — well before Powell’s term ends next February.
