Get the latest market trends in your inbox

Stay on top of the latest market trends and economic insights with the Axios Markets newsletter. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

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

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

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Denver news in your inbox

Catch up on the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Des Moines news in your inbox

Catch up on the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Minneapolis-St. Paul news in your inbox

Catch up on the most important stories affecting your hometown with Axios Minneapolis-St. Paul

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tampa-St. Petersburg news in your inbox

Catch up on the most important stories affecting your hometown with Axios Tampa-St. Petersburg

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Baltimore Mayor Catherine Pugh. Photo: Paul Marotta/Getty Images

Maryland Gov. Larry Hogan called on Baltimore Mayor Catherine Pugh to resign for the first time on Thursday, after FBI agents and members of the IRS's criminal investigation team searched Baltimore City Hall, Mayor Catherine Pugh's home and the home of former Pugh aide Gary Brown Jr.

"On April 1, I directed the state prosecutor to investigate the disturbing allegations surrounding Mayor Catherine Pugh's questionable financial dealings with the University of Maryland Medical System. Today, agents for the FBI and the IRS executed search warrants at the mayor's homes and offices. Now more than ever, Baltimore City needs strong and responsible leadership. Mayor Pugh has lost the public trust. She is clearly not fit to lead. For the good of the city, Mayor Pugh must resign."

The backdrop: Pugh began an indefinite leave of absence on April 1 after the Baltimore Sun found that Kaiser Permanente paid Pugh more than $100,000 for 20,000 copies of her children's books from 2015 to 2018 — the same period in which Kaiser was seeking a contract to become the health care provider for the city's employees. Pugh was on the city's spending board when it awarded Kaiser the $48 million deal in 2017.

Go deeper: Baltimore health provider Kaiser Permanente bought $114,000 worth of mayor's books

Go deeper

Coronavirus hospitalizations top 100,000 for the first time

Expand chart
Data: The COVID Tracking ProjectHarvard Global Health Institute; Cartogram: Danielle Alberti and Andrew Witherspoon/Axios

More than 100,000 Americans are now in the hospital with coronavirus infections — a new record, an indication that the pandemic is continuing to get worse and a reminder that the virus is still very dangerous.

Why it matters: Hospitalizations are a way to measure severe illnesses — and severe illnesses are on the rise across the U.S. In some areas, health systems and health care workers are already overwhelmed, and outbreaks are only getting worse.

Dion Rabouin, author of Markets
23 mins ago - Economy & Business

Our make-believe economy

Illustration: Eniola Odetunde/Axios

The Federal Reserve and global central banks are remaking the world's economy in an effort to save it, but have created something of a monster.

Why it matters: The Fed-driven economy relies on the creation of trillions of dollars — literally out of thin air — that are used to purchase bonds and push money into a pandemic-ravaged economy that has long been dependent on free cash and is only growing more addicted.

New hope for "smart cities"

Illustration: Sarah Grillo/Axios

It's time to polish our gleaming vision of urban environments where internet technology makes everything from finding a parking space to measuring air quality a snap.

Why it matters: The Biden administration's Cabinet appointees are likely to be champions of bold futurism in urban planning — which could mean that smart infrastructure projects, like broadband deployment and digital city services, get fresh funding and momentum.