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'We didn’t see this coming': Wall Street eats its forecasts as stocks sell off globally on fear of AI bubble ahead of SpaceX IPO

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She could be the first Black woman on the Supreme Court

By
Kristen Bellstrom
Kristen Bellstrom
and
Emma Hinchliffe
Emma Hinchliffe
Down Arrow Button Icon
By
Kristen Bellstrom
Kristen Bellstrom
and
Emma Hinchliffe
Emma Hinchliffe
Down Arrow Button Icon
June 15, 2021, 8:33 AM ET

This is the web version of The Broadsheet, a daily newsletter for and about the world’s most powerful women. Sign up to get it delivered free to your inbox.

Good morning, Broadsheet readers! The return to work looks different in different corners of Wall Street, Girl Scouts have a surplus of unsold cookies, and Ketanji Brown Jackson fills Merrick Garland’s old seat. Have a lovely Tuesday.

– One to watch. Here’s a name to know: Ketanji Brown Jackson.

Yesterday, the Senate voted to confirm Jackson to the influential U.S. Court of Appeals in D.C., where she replaces Merrick Garland, who is now attorney general. It’s a big and important job, though not quite as big or important as the one some think she could have next—Supreme Court justice.

President Joe Biden has vowed to name a Black woman to the nation’s highest court. If he were to have that opportunity, and if he picked Jackson, she would make history as the first Black female justice.

That is, of course, a lot of “ifs”—and as recent history has proven, there are no sure bets when it comes to the Supreme Court. Some Democrats are hoping that Justice Stephen Breyer, who is 82, will soon step down to clear the way for a new liberal justice, but Breyer has given no indication that he will do so. What’s more, the window is short: Democrats could lose the path to a smooth (or smoothish) confirmation if they lose the Senate majority in the midterms.

If the stars align, there’s plenty to suggest Jackson would be a strong choice: the double Harvard grad clerked for three federal judges, including Justice Breyer. She was a public defender and, according to this NPR story—which dives further into her background—is known for her vivid writing style, sense of humor, and skill at “building consensus.” On a less harmonious note: She also issued a series of rulings against the Trump administration, which would almost certainly be a topic of conversation if she were to become a Biden nominee.

Kristen Bellstrom
kristen.bellstrom@fortune.com
@kayelbee

The Broadsheet, Fortune’s newsletter for and about the world’s most powerful women, is coauthored by Kristen Bellstrom, Emma Hinchliffe, and Claire Zillman. Today’s edition was curated by Emma Hinchliffe. 

ALSO IN THE HEADLINES

- Tale of two banks. Goldman Sachs and Citigroup are taking two very different approaches to the return to in-office work, illustrating potential paths for Wall Street and beyond. Goldman is sending all employees back to the office. At Citi, CEO Jane Fraser chose a hybrid model in part because of continued challenges with childcare and the lack of vaccines for young children. Bloomberg

- Equity effort gone wrong. The Restaurant Revitalization Fund, funded by Congress, promised to prioritize applicants who were women and people of color. But white business owners brought lawsuits against the program, halting payments to the restaurant owners who thought they'd soon be receiving relief. New York Times

- Catholic disagreement. Some American Catholic bishops want to deny Communion to Catholic politicians who support abortion rights—including President Biden. The Vatican this week directed the bishops not to enact such a policy, but the conservative bishops are likely to move forward anyway. New York Times

- Amanpour opens up. Christiane Amanpour, the legendary journalist, shared with CNN viewers yesterday that she's been diagnosed with ovarian cancer. The anchor said she's had surgery and is undergoing chemotherapy—and chose to share her experience to encourage women to seek early diagnoses. CNN

MOVERS AND SHAKERS: After resignations at Lordstown Motors, the electric vehicles business named Angela Strand executive chair; Becky Roof interim CFO; and Jane Ritson-Parsons COO. 

IN CASE YOU MISSED IT

- Lab results. The virologist Shi Zhengli is at the center of theories that the coronavirus escaped from her lab in Wuhan. In a rare interview, she calls the allegations baseless. "“How on earth can I offer up evidence for something where there is no evidence?" she says. New York Times

- Samoa overflow. During the pandemic, many Girl Scout troops canceled their usual cookie booths. Now the organization is left with 15 million boxes of unsold cookies. It's not the worst hit cookie season has ever faced, though; during World War II, scouts had to sell calendars instead. Fortune

- Reality's released. Reality Winner was jailed for leaking information about Russian election hacking. Now the former National Security Agency contractor has been released early from prison. Her five-year sentence was the "longest ever for a federal crime involving leaks to the media." NBC

ON MY RADAR

Aung San Suu Kyi’s trial begins in Myanmar after February coup Wall Street Journal

The Pill Club takes on primary care with $41.9 million in fresh funding TechCrunch

Emilia Clarke’s debut comic book follows a single mom whose secret weapon is her period Variety

PARTING WORDS

"To be able to say: ‘I belong here. I own this. It’s mine.'"

-Kelis on what she hopes her children get out of growing up on a southern California farm. The singer went to culinary school in 2008 and moved to the farm last year. 

About the Authors
Kristen Bellstrom
By Kristen Bellstrom
See full bioRight Arrow Button Icon
Emma Hinchliffe
By Emma HinchliffeMost Powerful Women Editor
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Emma Hinchliffe is Fortune’s Most Powerful Women editor, overseeing editorial for the longstanding franchise. As a senior writer at Fortune, Emma has covered women in business and gender-lens news across business, politics, and culture. She is the lead author of the Most Powerful Women Daily newsletter (formerly the Broadsheet), Fortune’s daily missive for and about the women leading the business world.

See full bioRight Arrow Button Icon

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