Delivery agreement: Amazon and the U.S. Postal Service have reached a new delivery agreement that reduces Amazon’s package volume through USPS by about 20%, far less than earlier proposed cuts. The deal preserves a critical partnership that generates billions in revenue for the struggling agency, though reduced volumes could still weigh on finances as regulators review the agreement. Read the full story from The Wall Street Journal.
One Fed official’s take: A top Federal Reserve official said Monday that an interest rate hike could be appropriate if inflation remains persistently above the central bank’s 2% target, the latest sign that some policymakers are moving away from a bias toward reducing borrowing costs. Beth Hammack, president of the Federal Reserve Bank of Cleveland, said in an interview with The Associated Press that her general preference is for the Fed to keep its benchmark interest rate unchanged “for quite some time.” Read more from The Associated Press.
Rising baggage fees: Delta Air Lines is raising checked bag fees by up to $50 as soaring jet fuel costs ripple through the airline industry. The move follows similar increases by competitors and reflects mounting pressure from global energy disruptions, with higher fuel prices driving up travel costs for both carriers and passengers. Read more from Bloomberg. A subscription may be required.
