State of play: Suppliers are struggling to keep up with demand, forcing them to pause production or use alternative ingredients, Bloomberg reports.
The surge in demand is coming from products like Starbucks cold foams and Mars Protein Eggo waffles, plus protein bars, shakes and snacks.
⚙️ How it works: "Whey protein is a byproduct of cheese making, so processors can't simply ramp up production of the protein on its own," Bloomberg notes. "During the cheese-making process, milk is separated into curds and the protein-rich liquid whey is then pasteurized and dried to turn it into protein powders."
What to watch for: Some food companies are embracing alternatives like milk protein concentrate, but whey protein devourers say it's not the same.
Economic mobility feels out of reach both in the U.S. and around the world, as people struggle to translate education into employment and find jobs that are safe from climate and technology pressures.
Anthropic on Monday announced that it has filed confidential IPO papers with the U.S. Securities & Exchange Commission.
Why it matters: Three companies could enter the U.S. public markets with valuations of at least $1 trillion -- something that never before has even happened once.
Don't count on AI to solve America's inflation problem: That's the message from several Federal Reserve officials who warn that the promise of an AI-fueled productivity boom might not justify cheaper money.
Why it matters: How AI shapes inflation and productivity will be a defining question for the Fed under the leadership of Kevin Warsh, who has staked out a case that the technology's supply-side benefits justify keeping rates low.
Berkshire Hathaway on Sunday said that it's agreed to buy Taylor Morrison Home, an Arizona-based homebuilder and financial services provider, for $6.8 billion in cash.
Why it matters: This is Berkshire's first major acquisition under CEO Greg Abel, who took over after Warren Buffett retired at the end of last year.
Stocks just finished a month that could hold its own with some of the frothiest moments of the tech stock boom of the late 1990s.
The big picture: With the end of the Iran war seemingly close, the S&P 500 ripped to new records in May, as falling oil prices, easing interest rates and strong earnings results set off a blistering rally in AI-related tech shares.
Corporate profits are taking the largest chunk of America's total income since a brief period of the early 1950s, as the slice of the pie going to worker pay has shrunk to the thinnest on record.
Why it matters: It's another piece of evidence underscoring the current state of play in the American economy: Surging profits have buoyed stock markets while increasing pressure on an already cranky public.
In his first public remarks since the conclusion of his time as Federal Reserve chair, Jerome Powell has issued a blunt warning that the central bank is undergoing a "stress test" and its credibility is on the line.
The big picture: While Powell's remarks Sunday evening, in accepting the John F. Kennedy "Profile in Courage" award, do not mention the Trump administration's attempts to undermine Fed independence specifically, the meaning of his words is plain.
Those include a criminal investigation of the Fed's over-budget building renovation and the attempted firing of governor Lisa Cook.
Powell framed attempts to weaken the Fed's independence from politics as endangering an institution that is crucial in sustaining American greatness.
Texas has gained more than 2.5 million new residents since 2020 — roughly the entire population of New Mexico — reshaping the electorate and injecting new uncertainty into this year's marquee Senate race.
Why it matters: Republican Ken Paxton is favored to defeat Democrat James Talarico in November, but the influx of new arrivals — along with fading Latino support for President Trump and booming exurban counties — has scrambled the political math in typically red Texas.
Jet-setters, take note: We asked travel writer Lydia Mansel to share her top packing advice for summer trips.
The big picture: Forget folding tricks and compression cubes. The smartest way to pack lighter is to bring clothes you'll actually wear, saysMansel, who writes the packing-list newsletter Just Packed.
