What we’re reading (5/5)
“Yellen Says Rates Might Need To Rise As Economy Recovers” (New York Times). “The comments, broadcast online on Tuesday at The Atlantic’s Future Economy Summit, come amid heightened concern from some economists and businesses that the United States is in for a period of higher inflation as stimulus money flows through the economy and consumers begin spending again.”
“Weekly Mortgage Demand Stalls As Rates Rise And Fierce Competition Hurts Home Sales” (CNBC). “It was a mixed bag for mortgage demand last week, as higher rates did nothing for refinances and homebuyers faced more steep competition for a pitiful few homes for sale. Total mortgage application volume fell 0.9% last week from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.”
“Michigan Wants To Close Oil Pipeline Under The Great Lakes. Canada Says No.” (Wall Street Journal). “Canada is fighting to stop U.S. officials from closing a vital cross-border oil and gas pipeline as a deadline to shut it looms. The dispute erupted in November, when Michigan Gov. Gretchen Whitmer announced she was revoking a permit that allows Enbridge Inc.’s Line 5 pipeline to run along the bottom of the Straits of Mackinac, between Lake Michigan and Lake Huron. She gave the company until May 12 to shut the pipeline.”
“Krispy Kreme files IPO Paperwork” (CNN Business). “The doughnut company said on Tuesday that it has confidentially filed paperwork related to a public offering of its stock with the Securities and Exchange Commission. The number of shares that will be offered and their price range has not been determined, the company said, adding that the IPO is expected to happen after the SEC completes its review.”
“Corporations Aren't ‘Woke,’ They Just Know Their Customers. Watch And Learn, Republicans.” (USA Today). “[D]on’t be tricked into thinking that America’s corporate giants are becoming something fundamentally different from what they’ve always been. But what you can see them as, in addition to profit pursuers, are bellwethers — highly useful signalers of where the culture is headed and how reality-based organizations are positioning themselves for success.”
