The natural-gas glut has evaporated, driving prices higher
The power-plant fuel costs twice what it did at the start of last summer, portending higher utility bills and manufacturing costs Read More.
Investors fear inflation, labor shortages in second half of 2021
Investors entered 2021 concerned about the transition to a new U.S. president, the form of new fiscal stimulus, the distribution of vaccines and the reopening of the economy. Now, top risks include supply chain bottlenecks, labor shortages, inflation and slower GDP growth. Read More.
It looks a lot like 2004 in the markets, Morgan Stanley says. What happens next.
U.S. stock futures pointed to a rebound on Monday following Wall Street’s worst week since October. Read More.
IRS Denies Tax Exemption to Texas Religious Group Because Prayer, Bible Reading Boost the Republican Party
An IRS official denied tax-exempt status to a Texas group that encourages church members to pray for state and national leaders, regardless of their party affiliation, because it benefits “the private interests of the [Republican] Party.” Read More.
The Grassroots Corner June 21, 2021
🇺🇸 The Grassroots Corner - Week Beginning 6/21/21: “Meet Candidate Rubin Young” Read More.
Understanding the global minimum tax and the growing risk of ransomware
The G7 announced a framework for a global minimum tax last week. In this episode, Amy Wang Miller, CPA, J.D., senior manager with the AICPA’s Tax Policy & Advocacy team, explains what the framework means, what accounting and finance professionals can expect next, and what the future of a global minimum tax looks like. Read More.
$950 billion infrastructure bill gets bipartisan Senate support
Lawmakers come up with a 'framework' to tackle infrastructure without raising taxes Read More.
Red-Hot U.S. Economy Drives Global Inflation, Forcing Foreign Banks to Act
Central banks are raising rates to fend off a rise in inflation as policy makers respond to the booming U.S. economy Read More.
The Chairman’s Report June 18, 2021
About a week ago, Propublica released a document based on a review of leaked IRS tax returns.  They did not allege that any of the wealthy taxpayers involved were violating any part of the Internal Revenue Code.  The “crime” that these wealthy people committed was that they made a lot of money and paid very little, if any, tax. ​​​​​​​ Read More.
Underground Cellar wants to be like Robinhood but for buying and trading wine
Jeffrey Shaw, 34, wants to change the wine selling game. Read More.
Yellen pushes Biden's massive budget as she warns of 'destructive' economic forces
'Long-term, structural economic challenges' hinder Americans' ability to earn a solid wage, Yellen said Read More.
Here’s What Plunging Lumber Prices Tell Us About Inflation
The price of lumber has fallen more than 40% since its peak in May and other commodities have followed suit, suggesting that some of the price surges that have alarmed lawmakers and investors this spring may fade with time as the economy returns to normalcy. Read More.
Move Over Dogecoin—Tesla Billionaire Elon Musk Has Suddenly Sent The Bitcoin Price Sharply Higher
Tesla TSLA +1.5% chief executive Elon Musk may no longer be the bitcoin community's favorite tech billionaire but he can still move the bitcoin price. Read More.
Economy Week Ahead: The Fed, Factories and Consumers
Look out for U.S. retail sales and industrial production; also Chinese indicators Read More.
Forget going back to the office — people are just quitting instead
As the pandemic clouds lift, the percentage of Americans leaving employers for new opportunities is at its highest level in more than two decades Read More.