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

2 hours ago - Health

Cash can't fix the economy's problems until the coronavirus is curbed

Illustration: Sarah Grillo/Axios

There's plenty of money. It's just not moving to where it's needed.

Driving the news: Thursday's jobs report showed 4.8 million jobs created in June, but those were overwhelmingly people beginning to return to places where they had been temporarily laid off. The number of "permanent job losers" went up, not down, rising 25% in just one month to 2.8 million from 2.2 million.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 1 p.m. ET: 10,742,416 — Total deaths: 517,162 — Total recoveries — 5,515,076Map.
  2. U.S.: Total confirmed cases as of 1 p.m. ET: 2,699,658 — Total deaths: 128,184 — Total recoveries: 729,994 — Total tested: 32,827,359Map.
  3. States: Florida reports more than 10,000 new coronavirus cases — 5 states saw 27% spike in heart-related deaths in first 3 months of coronavirus pandemic.
  4. Federal government: Coronavirus testing czar: "We are not flattening the curve right now"
  5. Sports: 9 more NBA players test positive for coronavirus.

Coronavirus testing czar: "We are not flattening the curve right now"

Adm. Brett Giroir, the Health and Human Services official overseeing the nation's coronavirus testing efforts, told Congress Thursday that the U.S. is "not flattening the curve right now," and that the nationwide surge in new cases is not simply a result of more testing.

Why it matters: President Trump said at a press conference just hours earlier that the U.S. is getting the coronavirus "under control." He and other top members of his administration have sought to downplay the growing surge in infections as largely a product of increased testing.