Traffic lights out: Multiple traffic lights were out on Perkins Road this morning, causing heavy traffic delays as drivers were forced to wait at four-way stops. The lights at Perkins Road and Kenilworth Parkway as well as at College Drive were out for at least three hours. WBRZ-TV has the latest on the outages.
Closing shop: Corporate bankruptcies this year have risen to their highest level since 2010, when the economy was tentatively recovering from a catastrophic recession, says a new report from S&P Global Market Intelligence. There were 54 bankruptcies filed in May, a slight tick up from April—and lower than in March when 70 companies filed, per S&P’s report. Read more from Axios.
To hike, or not to hike: When an increasingly fractious committee of Federal Reserve policymakers meets next week, Chair Jerome Powell will need to forge a consensus. One group of Fed officials would like to pause their relentless campaign of rate increases after 10 straight hikes to allow time to assess whether inflation is slowing. But a second group worries that inflation is still too high and thinks the Fed should continue hiking at least once or twice more. Read the full story.
