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Bloomberg Businessweek May 31, 2021

Each issue of Businessweek features in-depth perspectives on the financial markets, industries, trends, technology and people guiding the economy. Get the digital magazine subscription today and draw upon Businessweek's timely incisive analysis to help you make better decisions about your career, your business, and your personal investments.

United States
Bloomberg Finance LP
R 115,66
R 868,38
50 Issues

in this issue

2 min
in brief

Global coronavirus cases have topped 168 million, and deaths are approaching 3.5m More than 1.7 billion vaccine doses have been given. The virus is flaring up again in Japan, which is slated to host the Olympic Games starting on July 23. The New York prosecutor investigating Donald Trump convened a grand jury to consider charges. The Washington Post reported on May 25 that Manhattan District Attorney Cyrus Vance Jr. recently convened the panel, indicating his two-year probe of the former president’s business dealings has reached a pivotal moment. “This is a continuation of the greatest Witch Hunt in American history,” Trump said in a statement released later that night. Belarus forced a Ryanair flight traveling from Greece to Lithuania on May 23 to land in Minsk, where they arrested a passenger, 26-year-old journalist…

3 min
the fed should signal a willingness to change with pandemic data

The Federal Reserve had little choice last year but to promise pedal-to-the-metal monetary accommodation with no letup in sight. This unequivocal commitment was the only instrument it had left to provide what was then a necessary stimulus. Now, awkward as it might be—not least for its credibility with investors—the Fed needs to start walking this promise back. Today’s monetary policy settings aren’t necessarily wrong. Interest rates close to zero and hefty monthly bond purchases might very well be the correct posture for the Fed. Yet economic data have underlined risks in the outlook. The Fed needs to show it’s watching these uncertainties with an open mind, rather than telling markets, “Nothing to see here, move along.” Consumer prices in April were 4.2% higher than a year earlier. To be sure, this number…

1 min
▶ decrypting the crypto craze

OPEC+ members meet beginning on June 1 to discuss their oil output. Excess inventories built up in the pandemic have almost been drained as demand rises again. The Reserve Bank of India makes its rate decision on June 4. The country’s economy has been hit hard by a surge in coronavirus infections. The parliamentary vote for the next president of Israel will take place on June 2, a month before President Reuven Rivlin’s seven-year term ends. The German state of Saxony-Anhalt holds elections on June 6. It’s a test of the political mood in the country ahead of the general election in September. The St. Petersburg International Economic Forum will explore Russia’s key economic issues on June 2-5. Vladimir Putin has presided over each gathering since 2006. JPMorgan Chase holds a summit on China on…

6 min
america has a housing mess, and president biden wants to fix it

U.S. housing policy is practically geologic in form. Since the 1930s, the federal government has rolled out layer upon layer of programs and incentives to help the poor, veterans, the middle class, and others afford homes. What we have today is an accretion of policies and bureaucracy that’s complex and inadequate for today’s needs. “It’s like sedimentary rock,” says Chris Herbert, managing director of the Harvard Joint Center for Housing Studies. “There’s never really been a time when we sat down and said, ‘Let’s think about a coherent U.S. housing policy.’” President Joe Biden wants to do better. With a possible eviction crisis looming and home prices spiraling further out of reach for many buyers, his administration is pushing for the biggest federal housing investment in decades—one that’s also designed to…

5 min
can climate-friendly eggs bring home the bacon?

On a recent sunny day, 13,000 chickens roam over Larry Brown’s 40 windswept acres in Shiner, Texas. Some rest in the shade of a parked car. Others drink water with the cows. This all seems random, but it’s by design, part of what the $6.1 billion U.S. egg industry bets will be its next big thing: climate-friendly eggs. Over the past decade, producers have skillfully persuaded consumers to pay four times the price for a dozen eggs that are marketed as good for you (organic) or as much as seven times the cost for eggs raised under conditions considered better for the animals that laid them (pasture-raised and hand-harvested). That’s no mean feat, given that a carton of conventional eggs can still be had for less than $1. But savvy marketing…

5 min
instant cure for the munchies

On a quiet street in the rapidly gentrifying London neighborhood of Shoreditch, a small storefront thrums to a disco beat. Workers in black jackets wielding tablet computers hustle from aisle to aisle, packing bags with indulgences such as beer, avocados, and ice cream. As soon as the sacks are full, couriers on electric bikes whisk them off to customers who placed their orders less than 10 minutes earlier. The fulfillment center in a former handbag store is one of more than 60 such operations in four countries run by Gorillas, an instant-delivery startup based in Berlin that will begin operating in the U.S. on May 30. Around the world, dozens of companies have jumped into the fast-growing business, including newcomers such as Philadelphia-based Gopuff, Turkey’s Getir, and Dija in London, as…