Top-of-mind economic news as we start the week:
— The U.S. economy added 253,000 jobs in April, beating expectations even as the pace of economic growth slows.
— The Federal Reserve increased its key interest rate by 25 basis point to above 5%; signaled this could be the last rate hike.
— The European Central Bank increased its key interest rate by 25 basis points to 3.25%; indicated more increases to come.
— 43 US Senate Republicans vowed to oppose increasing the federal debt limit without cuts in spending, as debt ceiling debate enters critical month.
— 180 large investors with $10 trillion in assets under management called on large retailers to do more to reduce use of plastics, including Costco, Target, P&G, Unilever, Coca-Cola.
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