Bloomberg - Evening Briefing - Supply chain fears grow

Inflation: is it transitory? The question seemed to be on everyone’s mind Wednesday. Prices paid by U.S. consumers came in higher than expected for September, though in certain reopening categories they cooled. One Federal Reserve official said the spike in inflation can no longer be called “transitory” and Goldman Sachs’ president said of all the risks, inflation was the one he feared the most. Meanwhile, Fed officials are targeting mid-November to start taking their foot off the gas. Here’s your markets wrap. —Margaret Sutherlin

Bloomberg is tracking the coronavirus pandemic and the progress of global vaccination efforts.

If you needed any further indication that the global supply chain was a complete mess, just tune into any company earnings call this week. The mentions of “supply chain” in the latest round have soared past even last year’s record. Now U.S. President Joe Biden is weighing in, though the White House admits it’s limited in what it can do. 

U.S. borders with Mexico and Canada are set to reopen after being partially or totally closed for more than a year and a half. Vaccinated travelers will be able to resume non-essential trips via land checkpoints starting in November. In Texas, Governor Greg Abbott’s attempt to ban vaccine mandates will likely end up in court. And a federal judge has limited United Airlines’ ability place employees claiming a religious exemption on unpaid leave. Here’s the latest on the pandemic. 

Netflix employees pointed out controversial material in Dave Chappelle’s new comedy special “The Closer” days before its release. The special has been at the center of a firestorm over jokes he makes about transgender people.

Dave Chappelle Source: Netflix

Over the past three years, millions of blood pressure pills that contain a probable carcinogen have been recalled around the world. As companies have worked on finding a fix, they’ve discovered an entirely new problem: Another potentially dangerous chemical is showing up in the same drugs.

“I want to crush the competition.” Citigroup’s Jane Fraser has a master plan to lead her bank’s long-shot comeback, and as the first female CEO of a Wall Street giant, she recognizes the scrutiny she’s under.

Jane Fraser  Photographer: Samuel Corum/Bloomberg

Every year, New York City’s mayor and city council set a budget for the police department. And every year for the past two decades, the city’s police employees blow through the figure by hundreds of millions of dollars. Why? Overtime. It’s a money problem for sure, but it’s also an equality problem. Here’s why. 

In most U.S. states, employers and schools are allowed to discriminate against box braids, locs and other traditional hairstyles. A coalition of activists and legislators has started to change that.

• William Shatner became the oldest person to go to space. 
• Covid-19 wiped out the entire financial cushion for 20% of Americans.
• The Boston Marathon bomber may again face the death penalty. 
• After China’s crackdown, there’s a new Bitcoin mining capital. 
• Amazon is shopping for cargo planes, which should worry FedEx.
• China is beating everyone in the EV game by miles. 
• Ninety percent of companies aren’t calculating their emissions right. 

Cleveland is the poorest big city in the U.S., with 30% of residents and 46% of children living in poverty. Its digital divide is one of the country’s worst. The city has lost 6% of its residents since 2010. The post-recession recovery that’s lifted other Rust Belt and midsize urban hubs has bypassed it altogether. So who wants to lead Cleveland out of the pandemic? 

Cleveland, Ohio Photographer: Raymond Boyd/Michael Ochs Archives

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