Highlight of the Week
Bank of America to Raise Internal Minimum Wage to $25 Per Hour by 2025
-As of 2013, about 1/3 of bank tellers were not earning a livable wage and were forced to utilize Medicaid and food stamps to survive.
-The bank also said that it will require vendors to pay $15/hr.
Rate Curves
Rapid Report:
COVID-19 Updates (As of Wednesday Morning)
-COVID-19 has registered 165 million cases and about 3.4 million deaths worldwide.
-The U.S. has registered 33.8 million cases and has about 601 thousand deaths.
-Georgia has registered about 1.1 million cases and over 20 thousand deaths.
Bitcoin Tanks 20% in 24 Hours
-On May 12, Tesla CEO Elon Musk cited environmental concerns over the ‘mining’ process that is required to enable transactions using bitcoin. The digital currency was down 20% in a span of 24 hours. The cryptocurrency hit an intraday low of around $36,189 at 7:30 a.m. ET Tuesday.
-Bitcoin is down 30% for the week, demonstrating the volatility of trading crypto.
CDC Releases New Indoor Mask and Social Distancing Guidance for Fully Vaccinated
-The CDC announced that fully vaccinated people do not have to wear masks or practice social distancing indoors or outdoors, except when in healthcare settings, on public transportation, or in other areas where governments require masks.
-Target, Home Depot, and CVS are among stores early to drop mask requirements.
