October retail sales spark optimism for the economy - November 16, 2021 Executive Leadership Briefing

President Joe Biden signed the $1 trillion infrastructure bill Monday afternoon. The bill, cut down from its original price tag of $2.3 trillion after months of debate, includes funding for broadband expansion, environmental projects and improvements for transportation infrastructure among other initiatives.
Biden’s reliance on I.R.S. enforcement to pay for $1.85 trillion bill hits a snag. - The New York Times
Students are still struggling to get internet. The infrastructure law could help - NPR
Biden’s infrastructure bill includes $50 billion to fight climate change disasters - CNBC
October retail surged 1.7% compared to September’s 0.7% due to early holiday shopping and high gas prices. October’s rise in retail sales signaled the third month of growth in a row. Economist Michael Gapen with Barclay argued that strong retail sales represent a positive sign that the U.S. economy is “back on track.”
After rally in U.S. retailers, investors eye upcoming reports - Reuters
Consumers rushing to complete holiday shopping due to supply chain concerns - WHSV
Supply Chain Challenges Won’t Ruin the Holidays—but They Will Change the Retail Industry - Adweek
Recent survey data highlighted a reduction in working hours as the preferred solution to employee burnout with 83% of survey participants saying a reduced workweek would help them tackle burnout in their jobs. Advocates of the 4-day workweek have argued a reduction in work hours may help employers deal with the effects of the Great Resignation, particularly when it comes to attracting new talent.
U.S. Faces Crisis of Burned-Out Health Care Workers - U.S. News and World Report
6 Strategies to Boost Retention Through the Great Resignation - Harvard Business Review
Robots Filling Vacant Jobs Amid Ongoing 'Great Resignation' - International Business Times
Senate Banking Chairman Sherrod Brown said the Biden administration is expected to announce its selection for the chair of the Federal Reserve soon, with a choice forecasted for before the Thanksgiving holiday. The two finalist candidates are incumbent Federal Reserve chair Jerome Powell and Federal Reserve governor Lael Brainard, both of whom were interviewed by the President earlier this month.
Inflation Prompts Growing Chorus to Call on Fed to Speed Taper - Bloomberg
Fed should hike interest rates immediately to cut stagflation risks, economist Stephen Roach suggests - CNBC
@CGasparino: BREAKING— Wall Street sets odds of a Powell reappointment to @federalreserve at just 50 50 after what was seen as a layup not long ago. We discuss why and possible impact on markets if Lael Brainard gets the nod now @FoxBusiness @TeamCavuto
Pharmaceutical giant Pfizer announced its antiviral COVID-19 pill can be produced by generic manufacturers for 95 low- and middle-income countries through a licensing agreement with Medicines Patent Pool. The clinical trial of the company’s pill showed a reduction in mortality and hospitalization rates of 89% for adults at risk of severe disease. Despite progress on the company’s antiviral drug, Pfizer CEO Albert Bourla has maintained opposition to the waiving of intellectual property rights for COVID-19 vaccines.
Pfizer to conduct trials of antiviral COVID-19 pill in Russia - Reuters
8 lingering questions about the new Covid pills from Merck and Pfizer - STAT
WHO chief calls booster distribution 'scandal' as poorer countries wait for doses - The Hill
@BogochIsaac: Pfizer signs a deal allowing their #COVID19 pill (Paxlovid) to be more accessible and "widely available in 95 low- and middle-income countries covering 53% of the world's population". Good news if those who need this can actually access it.
"The Great Resignation" - Statista / Source: U.S. Bureau of Labor Statistics


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