Headlines discussed at LNWM’s Monday morning briefing:
— Slightly higher interest rates would be good for the United States, Treasury Secretary Janet Yellen said, after decades of low inflation and rates.
— White House’s revised infrastructure proposal cuts spending by 40% to $1 trillion, keeps US corporate tax rate at 21%,includes 15% corporate minimum tax.
— US wages rose at a 2% annualized rate in May, as worker shortages persist despite7 million more people unemployed vs. pre-pandemic levels.
— 25% of ExxonMobil’s board (3 out of 12) is now comprised of climate change activists, after proxy voting campaign was backed by major institutional investors.
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