Daily Market Insight

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.

President Joe Biden reacted on Friday to a disappointing April jobs report by saying the U.S. economy has a "long way to go" before recovering from its pandemic slump, and he urged Washington to do more to help the American people.

President Joe Biden said a corporate tax rate between 25% and 28% could help pay for badly needed infrastructure, suggesting he could accept a lower rate than what he has proposed in his search for Republican support for the funding.