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Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

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Watch: A conversation on the workforce in the years to come

Axios' Mike Allen, Hans Nichols, and Niala Boodhoo hosted a conversation on how the next presidential term will impact the economy and workforce, featuring White House economic adviser Larry Kudlow, Joe Biden's policy director Stef Feldman and The Conference Board chief economist Dana Peterson.

Larry Kudlow discussed the breakdown of stimulus talks between Republicans and Democrats and President Trump's economic performance over the past four years.

  • On Trump’s economic record and plan for a second term, which has been criticized as vague: "The president has a track record. He's the incumbent. He has a very clear track record with a very clear set of economic principles. And he will provide more of the same."

Stef Feldman unpacked Vice President Biden's economic platform and the economic impact of COVID-19.

  • On this the most recent U.S. GDP report: "Our economy plunged into a recession because of President Trump's failure to have a plan to get the virus under control...Q3 growth wasn't enough to pull us out of the ditch that President Trump drove us into."

Dana Peterson discussed the recent GDP report as well as how the central banks and individual banks can contribute to economic equity.

  • On rewiring our economy for a more inclusive future: "We must tackle these issues on multiple fronts. When you think about access to banking, many people are unbanked...Individual banks can do more in terms of making sure that people have access to credit and that they're not being denied for reasons that could potentially be linked to some kind of bias."

Axios co-founder and CEO Jim VandeHei hosted a View from the Top segment with USAFacts Steve Ballmer and discussed the U.S.'s economic trajectory.

  • On the impact of the COVID-19 stimulus package: "The decline in unemployment started to occur as soon as the government started putting stimulus back into the economy. Obviously, the stimulus for business — the PPP program — was undoubtedly a part of that."

Thank you USAFacts for sponsoring this event.

Go deeper

Dion Rabouin, author of Markets
Jan 29, 2021 - Economy & Business

The state of the U.S. economy after one year of the coronavirus

Source: St. Louis Fed; Billions of chained 2012 dollars; Chart: Axios Visuals

The U.S. economy shrank by 3.5% last year, the Commerce Department reported, with the country seeing both its largest quarterly GDP decline and its largest quarterly GDP increase in the second and third quarters, respectively.

Where it stands: The 3.5% decline is the worst year for the U.S. since at least the end of World War II, and the economy is more than $473 billion smaller than it was before the pandemic hit.

Go deeper (<1 min. read)Arrow
Axios Events
Updated Jan 27, 2021 - Axios Events

Watch: Global data-driven change

On Thursday, January 27, Axios' Ina Fried hosted a conversation on the social impact of Big Data, featuring Rep. Yvette Clarke (D-N.Y.) and former U.S. chief technology officer and founder and CEO of shift7, Megan Smith.

Megan Smith. unpacked how data can help solve some of the biggest equity issues across our economy and society today, and the importance of having everyone at the table.

  • On solving social issues that are exacerbated by new technologies: "It's just not for the tech community to decide [how to fix this] on behalf of all of us, especially because they face extraordinary bias in their hiring practices and their teams' dismissiveness of people who are not of a certain group."
  • On how the government should approach solving problems that cross technological and policy divides: "The key there is less about what and more about who. Who is in the government teams, who is actually in the tech teams? Are they more balanced? How do we get more of society at the table together so that we're more fluent as we work on this?"

Rep. Yvette Clarke highlighted the risks and rewards of using Big Data, as well as the shared responsibility of the public and private sectors to keep the public informed.

  • On how algorithms can amplify existing biases: "[Big Data] can be great in making advances in our civil society. The other side is it can become a mirror of some of the inequities that exist in the real world...and that reflection can be programmed into algorithms."
  • On a balanced approach to technology regulation: "I really want to make sure that the public is educated and informed...[That] we also hold the companies accountable for the ways in which they perpetuate harm in certain respects and reward where they're doing good."

Axios' Chief People Officer Dominique Taylor hosted a View from the Top segment with Intel Executive Vice President and Chief People Officer Sandra Rivera to discuss collaboration and creating change from within the tech industry.

  • "We have convened other industry leaders to really drive meaningful, lasting change forward. This is such a big challenge and opportunity. It doesn't really work that any one company can do [it] alone: We take our role in terms of leading that work by participating, collaborating with other tech giants."

Thank you Intel for sponsoring this event.

Mike Allen, author of AM
35 mins ago - Politics & Policy

Biden adviser Cedric Richmond sees first-term progress on reparations

Illustration: "Axios on HBO"

White House senior adviser Cedric Richmond told "Axios on HBO" that it's "doable" for President Biden to make first-term progress on breaking down barriers for people of color, while Congress studies reparations for slavery.

Why it matters: Biden said on the campaign trail that he supports creation of a commission to study and develop proposals for reparations — direct payments for African-Americans.

Go deeper (1 min. read)Arrow