The Monday Mix: Aug. 1 – 7, 2022
Top-of-mind economic headlines as we start the week:
— The U.S. Congress approved a historic climate change, tax and healthcare bill that includes efforts to cut greenhouse gas emissions by 40% by 2030 and a 15% minimum global tax on corporations.
— U.S. unemployment edged down to 3.5% as a surprisingly high 528,000 jobs were added in July.
— Despite a stronger dollar, the US trade deficit fell 6.2% in June, as exports rose a substantial 1.7%.
— U.S. factory orders rose 2% month-over-month in June, supported by a 6% jump in orders for petroleum and coal products.
— India pledged to transition 50% of the country’s electricity generation to renewable energy sources by 2030.
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