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Why the Fed might want to jolt the markets

Fed chair Jerome Powell at a hearing earlier this month. Photo: Brendan Smialowski-Pool/Getty Images

So far, financial markets are cooperating nicely with the Federal Reserve's efforts to restrain inflation. They're doing the Fed's work for it by creating tighter financial conditions, in a distinctly non-panicky way.

  • But as the central bank's policymakers meet this week, an underlying question they face is whether the adjustment is happening too slowly.
Tina Reed, author of Vitals
4 hours ago - Health

The shifting definition of fully vaccinated

Illustration: Sarah Grillo/Axios

The definition of what it means to be "fully vaccinated" is evolving even as the CDC has remained careful not to change it officially.

Why it matters: CDC officials have been balancing the job of convincing Americans who've already gotten two doses of the importance of boosters with getting many Americans who still need their first doses to get their shots at all.

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This year's midterms could see a big slate of extreme candidates.

Europe's energy reliance on Russia is a crucial shield for Putin

Photo: Pavel Bednyakov/Sputnik/AFP via Getty Images

Cracks in the NATO alliance regarding sanctions for Russia should President Vladimir Putin order troops into Ukraine are in large part based on energy supply concerns.

Why it matters: Russia holds tremendous leverage over some European countries because it provides roughly 40% of Europe's natural gas supply. In Germany, this figure is greater than 50%.

Kate Marino, author of Markets
4 hours ago - Economy & Business

Omicron outbreaks were bad for business in January

Data: New York Federal Reserve Bank; Chart: Axios Visuals

Emerging anecdotal evidence shows just how hard the recent rise in COVID-19 cases hit businesses in early January — but that hasn't hurt some business leaders’ longer-term views of their companies' prospects.

Why it matters: Increasingly, the economic recovery has come in fits and starts that move in tandem with new peaks in cases. Look no further than the thousands of canceled flights and shuttered Broadway theaters in the wake of the Omicron variant's spread over the last few months.

Mike Allen, author of AM
4 hours ago - Economy & Business

Small businesses see hiring as No. 1 worry

Illustration: Aïda Amer/Axios

Almost every small business owner in a Goldman Sachs survey is having trouble hiring — and two-thirds think the federal government has done too little to ease their hiring, supply-chain and inflation worries.

Why it matters: The Goldman Sachs research gives a vivid window into the continuing headwinds and hardship for entrepreneurs.

4 hours ago - World

NATO sends ships and fighter jets to eastern Europe over Russia threat

Russian military units arrive at a training range in Belarus on Jan. 19. Photo: Russian Defence Ministry/TASS via Getty Images

NATO said Monday it's sending more ships and fighter jets to eastern Europe due to Russia's buildup of troops near Ukraine.

Driving the news: "NATO Allies are putting forces on standby and sending additional ships and fighter jets to NATO deployments in eastern Europe, reinforcing Allied deterrence and defense as Russia continues its military build-up in and around Ukraine," per a NATO statement.

Brands let customers opt out of Valentine's Day deluge

Illustration: Shoshana Gordon/Axios

More and more brands are giving their customers a heads up and the chance to opt out of marketing emails ahead of holidays like Valentine's Day.

Why it matters: Advertisements and promotions around holidays — particularly ones that celebrate relationships — can cause anxiety and depression. And we're bombarded with them: Overall, we've gone from being exposed to around 500 ads a day in the 1970s to around 5,000 a day now.

Updated 6 hours ago - World

State Department orders evacuation of U.S. diplomats' families from Ukraine

From left, undersecretary for political affairs Victoria Nuland, Secretary of State Antony Blinken and U.S. chargés d'affaires in Ukraine Kristina Kvien during a meeting with Ukrainian Prime Minister Denys Shmyhal in Kyiv. Photo: Yevhen Liubimov/ Ukrinform/Barcroft Media via Getty Images

The State Department will begin evacuating families and nonessential staff from the U.S. Embassy in Kyiv this week, according to a travel advisory published Sunday evening.

The latest: The United Kingdom's Foreign Office announced Monday it was also withdrawing some embassy staff and dependants from Ukraine's capital "in response to the growing threat from Russia," but added the British Embassy would remain open.

Updated 6 hours ago - World

U.K. PM orders inquiry into Muslim lawmaker's discrimination claim

British Prime Minister Boris Johnson in London last week. Photo: Ian Vogler/Pool/AFP via Getty Images

British Prime Minister Boris Johnson's office announced Monday that he's ordered an inquiry into allegations from a Conservative Member of Parliament that she was fired from a ministerial job due to her Muslim faith.

Driving the news: Nusrat Ghani told the Sunday Times she was informed by a government whip that she was fired from her position as a junior transport minister in February 2020 after her "Muslimness was raised as an issue" and that her faith made colleagues feel "uncomfortable."

Updated 9 hours ago - Politics & Policy

Virginia attorney general fires Jan. 6 investigator from university post

McIntire Amphitheater at the University of Virginia, Charlottesville, Va. Photo: Robert Knopes/UCG/Universal Images Group via Getty Images

The lead investigator for the Jan. 6 House select committee investigating the Capitol riot has been fired from his position as the University of Virginia's counsel by the state's new Republican attorney general, per the Washington Post.

Why it matters: Democrats say the removal of Tim Heaphy from his post after some three years while he's on leave from the university to investigate the insurrection is likely "retribution" for the House probe — an accusation strongly denied by the office of state Attorney General Jason Miyares (R).

12 hours ago - World

Taiwan's military scrambles jets after detecting 39 Chinese warplanes

J-20 stealth fighter jets in Zhuhai in the Guangdong Province of China last year. Photo: Chen Jimin/China News Service via Getty Images

Taiwan's defense force said 39 Chinese warplanes flew into its Air Defense Identification Zone (ADIZ) on Sunday.

Why it matters: The largest Chinese air force incursion into the zone since October came a day after the U.S. and Japanese navies conducted a joint exercise in the Philippine Sea.

13 hours ago - Sports

Gonzaga University revokes NBA great John Stockton's tickets over mask stance

Former Utah Jazz player John Stockton during a 2017 press conference in Salt Lake City. Photo: Melissa Majchrzak/NBAE via Getty Images

Gonzaga University suspended the season tickets of alumni John Stockton after the NBA Hall of Famer failed to comply with the school's basketball games mask mandate, the Spokesman-Review first reported.

Driving the news: "Basically, it came down to, they were asking me to wear a mask to the games and being a public figure, someone a little bit more visible, I stuck out in the crowd a little bit," the former Utah Jazz point guard told the outlet in an interview Saturday.