What you need to know to navigate today’s economic debates.
U.S. ‘pay tsar’ To Vet Executive Packages (FT)
A “special master” named by the Obama administration will vet the salaries of the top 100 employees at seven US companies who received government bail-out funds.
Obama Pay Plan Lacks ‘Meat on the Bones’ to Trim CEO Paychecks (BLM)
The pay plan would require companies to give shareholders a non- binding vote on pay, without setting limits.
IEA Raises Oil-Demand Forecast (WSJ)
IEA expects global crude demand this year to average 83.3 million barrels a day, representing an increase of 120,000 barrels a day from May report.
China’s Commodity Buying Spree (NYT)
Strong buying by China has helped lift commodity prices this spring, but growing evidence suggests that build stockpiles may not be sustainable.
Surge in U.S. Bond Yields Sparks Concern (FT)
Long-term interest rates rose to the highest level of the year on Wednesday, after inflation-wary investors met the latest sale of 10-year government debt with tepid response.
Dollar’s Reserve Status May Deteriorate, Roubini Says (BLM)
The NYU economics professor who predicted the financial crisis, Nouriel Roubini, says the dollar’s status as the world economy’s sole reserve currency may deteriorate.
The Return of the Great Debt Scare (EconView)
Robert Reich is worried that the concerns over the deficit will lead the Obama administration to abandon its investment agenda.
Obama Administration Finds Health Care Model in Green Bay (WP)
Obama’s drive to rein in skyrocketing health care costs is increasingly focused on wasteful medical care that does not extend life and may actually be harmful.
Dems vs. Dems on Health Bill (Politico)
Liberals fearful about squandering the chance to achieve national health insurance are taking aggressive steps to keep moderates in line.
California Nears Financial “meltdown” as Revenues Tumble (Reuters)
Governor Arnold Schwarzenegger and lawmakers quickly plug a $24.3 billion budget gap, the state’s controller said on Wednesday.