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Photo: Michael Brochstein/SOPA Images/LightRocket via Getty Images

Federal Reserve leaders and other central banks are examining whether mounting concentrations of corporate power may be the root causes of low inflation, productivity, wage growth and investment spending in the U.S. for years, reports The New York Times.

Why it matters: Jason Furman, an economist at Harvard’s Kennedy School of Government, told the Times that "questions of monopoly power were studied by specialists in a very technical way, without linking them to the broader issues that animate economic policy." If found to be true, the Times explains that the Fed may lower interest rates for a longer period of time and policymakers refuse to abruptly enact in response to short-term swings in consumer prices.

Go deeper

Ina Fried, author of Login
28 mins ago - Technology

Google's parent shuts down effort to deliver internet via balloons

Image: Loon

Alphabet is shutting down Loon, one of its "moonshots," which aimed to deliver internet service via high-altitude balloons.

Why it matters: The effort was one of several approaches designed to get high-speed connectivity to some of the world's most remote spots and proved useful in the aftermath of disasters that shut down traditional infrastructure.

Dave Lawler, author of World
44 mins ago - World

What has and hasn't changed as Biden takes over U.S. foreign policy

Photo Illustration: Brendan Lynch/Axios. Photo: Chip Somodevilla/Getty Images

President Biden swiftly recommitted the U.S. to the Paris climate pact and the World Health Organization, but America's broader foreign policy is in a state of flux between the Trump and Biden eras.

Driving the news: One of the most striking moves from the Biden administration thus far was a show of continuity — concurring with the Trump administration's last-minute determination that China had committed "genocide" against Uyghur Muslims.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Health: New coronavirus cases down, but more bad news ahead — Fighting COVID-19's effects on gender equality.
  2. Politics: Biden unveils "wartime" COVID strategyBiden's COVID-19 bubble.
  3. Vaccine: NYC postpones vaccine appointments following shipment delays — Private companies step in to fill vaccine logistics vacuum.
  4. World: Biden will order U.S. to rejoin World Health OrganizationBiden to bring U.S. into global COVAX initiative for equitable vaccine access.

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