What we’re reading (6/10)
“Key Inflation Measure Rises At Fastest Pace Since 1992” (CNN Business). “Consumer prices roared higher in May, rising at their fastest pace in decades. Inflation rose 5% in the 12-months ending in May, the Bureau of Labor Statistics reported Thursday. That was a faster pace than economists had predicted and the biggest jump since August 2008.”
“Homeowners Got $2 Trillion Richer During The First Three Months Of The Year” (CNBC). “Homeowners are getting richer and richer as prices keep soaring – and the numbers are staggering. Those with mortgages — about 62% of all properties — saw their equity jump by 20% in the first quarter from a year earlier, according to CoreLogic. This represents a collective cash gain of close to $2 trillion. Per borrower, the average gain was $33,400.”
“Coinbase Teams Up With 401(k) Provider To Offer Crypto” (Wall Street Journal). “A small group of workers will find something new in their 401(k) plan starting in July: the option to invest in cryptocurrency. ForUsAll Inc., a 401(k) provider, announced earlier this month a deal with the institutional arm of Coinbase Global Inc., a leading cryptocurrency exchange, that will allow workers in plans it administers to invest up to 5% of their 401(k) contributions in bitcoin, ether, litecoin, and others.”
“Are You A Work-Life Integrator Or A Segmenter? The Answer May Predict Your Risk Of WFH burnout.” (Business Insider). “Positioning the return to work as a potential cure for burnout is an idea that could gain traction — for better or for worse — at a time when many organizations face resistance from employees with little interest in commuting to an office five days a week.”
“Keystone XL Pipeline Nixed After Biden Stands Firm On Permit” (ABC News). “The sponsor of the Keystone XL crude oil pipeline pulled the plug on the contentious project Wednesday after Canadian officials failed to persuade President Joe Biden to reverse his cancellation of its permit on the day he took office. Calgary-based TC Energy said it would work with government agencies “to ensure a safe termination of and exit" from the partially built line, which was to transport crude from the oil sand fields of western Canada to Steele City, Nebraska.”
