'Grim Calculus'

What You Need To Know

Today’s posts that caught my eye:

1. Federal Reserve Chair Jerome Powell is facing an increasingly grim calculus after yet another hot inflation reading last week, Bloomberg reports. And today, commentary from Larry Summers, Mohamed El-Erian, and Ben Bernanke.

2. At noon today, two U.S. senators on opposite ends of the spectrum — Bernie Sanders (I-Vt.) and Li…