Shots fired... United Airlines said it would fire nearly 600 US-based employees who failed to comply with its vaccine mandate. Meanwhile, chicken giant Tyson is requiring all 120K of its US workers to be vaxxed by November 1. It offered a $200 vax bonus and says 91% of its workforce has already gotten the shot. Last month, President Biden signed an exec order requiring companies with 100+ workers to ensure employees are vaxxed or submit them to weekly Covid tests. Expect corporate pressure to keep intensifying.
Flated shopping spree... Consumer spending, aka the biggest driver of US economic growth, jumped 0.8% in August after falling in July. Personal incomes ticked up thanks to wage gains and $300/month child tax credits. Splurging suggests economic recovery is ramping up heading into the holidays. Also ramping up: inflation. Prices popped 3.6% in August from last year, eating into households' buying power. Adjusting for inflation, August spending rose only 0.4%.