Daily Market Insight

Federal Reserve officials have begun lowering expectations for May jobs growth in the United States as business hiring plans continue to outrun the supply of people able or willing to work.

The U.S. Treasury Department on Thursday offered to accept a global minimum corporate tax of at least 15% during international negotiations, a rate significantly below its proposed 21% minimum for U.S. multinational firms.

U.S. President Joe Biden will unveil the first detailed budget proposal of his term in office on May 28, a day later than originally planned, the White House said on Wednesday.

U.S. Treasury Secretary Janet Yellen tried to sell President Joe Biden's $2.2 trillion corporate tax hike and infrastructure plans to the U.S. Chamber of Commerce on Tuesday, saying that American Jobs Plan

Dallas Fed President said on Monday that it is possible the U.S. central bank could raise interest rates before the end of 2022, reaffirming the projection he made during the March policy-setting meeting.

High unemployment. Rising prices. They're a bad memory for Americans old enough to remember the 1970s - but they're also likely causing a few sleepless nights in the White House, as the United States' economic recovery from the unprecedented coronavirus recession hits some bumps.

U.S. economic output will hit a new high by the end of June, a return to the pre-pandemic peak far ahead of the dire predictions of last year, St. Louis Fed president James Bullard said.

The eurodollar futures market, which tracks short-term U.S. interest rate expectations over the next few years, is betting on a roughly 80% chance of a rate increase from the Federal Reserve by December 2022, after the release of stronger-than-expected inflation data.

Federal Reserve officials grappled on Tuesday with April's surprisingly weak employment growth, maintaining faith in the U.S. economic rebound but acknowledging the pace of the jobs recovery may prove choppier than anticipated.

President Joe Biden on Monday urged U.S. companies to help workers gain access to vaccines and to raise their pay while touting an infusion of $350 billion in federal aid to state and local governments, saying that will help more parents obtain child care and return to work.