What we’re reading (6/29)
“Powell Says Fed’s Inflation Fight Could Take Years” (Wall Street Journal). “The world’s major central banks have an unexpected problem: Their economies are surprisingly strong.The Federal Reserve is likely to keep lifting interest rates even though officials this month decided to slow the pace of increases by holding off on another move higher, Chair Jerome Powell said Wednesday.”
“Huge New York Landlord Says Fridays In The Office Are ‘Dead Forever’ — And Mondays Are ‘Touch-And-Go’” (Insider). “It looks like we're never going back to the office full-time — at least not every day of the week. One of New York's biggest private landlords, Vornado Realty Trust, is betting on whether hybrid work is here to stay. The firm's chairman, Steven Roth, recently told investors that office work on Fridays was likely ‘dead forever.’”
“The Nuclear Industry’s Big Bet On Going Small” (Vox). “Small modular reactors (SMR) have emerged as one of the most popular approaches for the next generation of nuclear power plants. Rather than designing giant, custom-crafted reactors at sprawling power plants that churn out gigawatts of electricity, industry stalwarts and startups are now developing smaller, factory-built atom splitters. In theory, they could be deployed cheaper and faster than current designs, meeting existing needs for power while filling new niches in the economy like hydrogen production. The hope is that SMRs could bypass or overcome some of the biggest obstacles to nuclear energy and the transition to clean energy.”
“No Job, No Marriage, No Kid: China’s Workers And The Curse Of 35” (New York Times). “It’s widely discussed in China: Employers don’t want you after 35. Some job listings say it plainly, leaving a generation of prime-age workers feeling defeated.”
“Sriracha Sauce Is Selling For As Much As $120 Amid Prolonged Shortage” (CNN Business). “Prices of Sriracha sauce are as high as $70 on eBay as people look to snap up the spicy sauce — and they’re even steeper on Amazon, up to $124. Huy Fong Foods, which makes the rooster-adorned bottled sauce, has been dealing with a years-long shortage of the chilis, which is hurting production and causing some shortages.”
