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The Fed has thus far stayed the course on navigating economic policies through the pandemic, but the road to recovery may require new actions. |
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The Fed to meet this week to decide next steps in recovery All eyes will be on the Federal Reserve when the fiscal policy-making body meets Tuesday to make decisions about the future direction of the economy. The big question: Will Fed Chairman Jerome Powell stick to his guns or usher in a new recovery plan? Throughout the pandemic recovery, Powell has held firm on his policies to support the economy through bond-buying, keeping interest rates at near-zero and treating inflation like a symptom of the recovery. But with prices soaring and investors growing hesitant, The Fed may have to implement some new measures to control inflation. SEE WHAT ANALYST SAY COULD BE THE FED'S NEXT MOVE
More stimulus funds on the way for Americans most in need The stimulus is coming! The stimulus is coming! With apologies to Paul Revere, this alarm is a more welcome one for Americans in need of additional assistance from the fallout of the COVID-19 crisis as the federal government attempts to target those most in need. While a fourth round of stimulus check seems like a pipe dream, there are other programs in place to help those going through tough times, like the new child tax credit, teacher bonuses, and plus-up payments. There are others that were set forth in the American Rescue Plan that many residents are unaware are available to them. SEE IF YOU ARE ELIGIBLE FOR ADDITIONAL STIMULUS FUNDS
Prolonged pandemic holds consequences for global economy The US isn't the only place coping with the harsh realities of the COVID pandemic; so is the rest of the planet. The global economy continues to suffer under the strain of supply chain interruptions, worker shortages, rising inflation and the obvious health issues. A new study shows the global economy has $9 trillion at stake in getting the world vaccinated for a real recovery between now and 2025, and that figure will prove a costly burden on the US if things don't improve around the world. The US's fate is so tied to the global recovery that it has a vested interest in helping other countries. FIND OUT WHAT THE US IS DOING AND SHOULD DO TO HELP
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Markets
| DJIA | 35,061.55 | 0.68% |
| S&P 500 | 4,411.79 | 1.01% |
| Nasdaq Composite | 14,836.99 | 1.04% |
| Japan: Nikkei 225 | 27,900.12 | 1.28% |
| UK: FTSE 100 | 7,027.58 | 0.85% |
| Crude Oil Futures | 71.68 | -0.54% |
| Gold Futures | 1,806.80 | 0.28% |
| Yen | 110.34 | -0.19% |
| Euro | 1.18 | 0.06% | | * As of market close |
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Team USA's wild weekend at Tokyo Olympics
Those with Olympic fever may already know about the wild opening weekend of upsets in the Tokyo Summer Games. But for those who didn't spend their free time sitting in front of seven TVs trying to take in all the action, we've got you covered with all the highlights and lowlights. The Team USA men's basketball team suffered its first defeat since 2004 and gymnastics superstar Simone Biles gave a not-ready-for-prime-time performance. But several Americans shined in sports not typically well represented by the US, like Chase Kalisz making a big splash in the pool and Anastasija Zolotic as the first US woman to strike gold in taekwondo. CATCH UP ON ALL THE ACTION FROM THE TOKYO OLYMPICS
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Will vaccinated Americans require a booster?
For those of you who have received your COVID-19 inoculations and are returning to normal life, you might not be considered "fully vaccinated" for long. That's because the CDC is currently considering whether the US-approved vaccines will require a booster shot to provide more protection. The potential action shows what a game-changer the Delta variant has been in its recent surge. Just last week, Pfizer suggested the idea and was promptly shot down. The CDC has since changed its tune, saying at least some already-vaccinated Americans may require an additional dose. FIND OUT WHICH AMERICANS ARE LIKELY TO NEED A BOOSTER
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Coffee prices spiking due to crop-killing frost
If you are enjoying a cup of coffee while reading Fast Start this morning, try to savor every sip. That's because the price of coffee -- like many other hot commodities during the pandemic -- is going up due to a massive frost impacting crops in several South American coffee-producing countries. Already facing inflated prices resulting from logistical issues and an historic drought, coffee could be hard to come by later this year when the loss of the current crop affects the supply chain (we're not sure how beverages work, but why not make iced coffee?). It's the latest item on your grocery list, like meat, eggs, milk and potatoes, going up in price. FIND OUT THE FULL IMPACT OF THE PENDING COFFEE SHORTAGE
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Horse sense
We earlier referenced Paul Revere and his legendary ride to warn fellow colonists that the British were coming. What was the name of the horse? Friday's answer: The first casino in Las Vegas was the infamous Golden Gate Hotel & Casino (originally Hotel Nevada), which opened in 1905. There are currently more than 140 casinos operating in Las Vegas today. SEND YOUR ANSWER HERE TO SHOW OFF YOUR KNOWLEDGE
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Tell a friend
There's no better way to start your day than by waking up with Fast Start, except perhaps sharing it with friends. Spread the word by forwarding today's copy to your crew and tell them to let us know you sent them. HERE'S THE EMAIL ADDRESS YOUR FRIENDS WILL NEED
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