Federal Reserve Board Chairman Jerome Powell testifies at a House Oversight and Reform Select Subcommittee on the Coronavirus hearing June 22, 2021 on Capitol Hill in Washington, DC.
The Washington Post’s Catherine Rampell and Politico’s Sudeep Reddy on consumer sentiment, China applying for the TPP Trade Group and more of this week’s economic news.
Floating traffic jam at California ports sets record
by Caroline Champlin
Mario Tama via Getty Images
Hundreds of thousands of freight containers wait to be offloaded at ports of Los Angeles and Long Beach.
What’s behind the chip shortage?
by Marielle Segarra
Jens Schlueter/AFP via Getty Images
Shortages happen when demand is greater than supply. When it comes to computer chips, there are problems on both sides of that equation.
Does the Federal Reserve have the power to fight climate change?
by Kai Ryssdal and Andie Corban
Drew Angerer via Getty Images
The central bank can “be an assist” on climate risk, says economist Claudia Sahm, but Congress sets the priorities.
Drive-thru coffee is extra hot
by Matt Levin
Tim Boyle via Getty Images
Drive-thru coffee shops are attractive to companies because they require fewer employees — especially beneficial during a worker shortage.
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