Cliff Owen / AP

Janet Yellen returns to the news cycle today: Following the conclusion of the the Fed's first meeting of 2017. Though recent signs of inflation have offered headline writers a change of pace, markets expect Yellen to not overreact to these data, and keep rates as is.

Fed funds futures markets are placing a 96% chance on the Fed keeping rates as is today, and a majority see only 2 rate hikes this year. We live in a low-growth, low-inflation world. Central bankers will respond accordingly.

Exxon writes down more than $2 billion in oil assets: America's largest oil company told investors Tuesday that it's proved oil reserves were worth more than $2 billion less than previously thought. While representing 0.6% of the firm's overall assets, the reduction reduces Exxon's proved oil reserves by 8%. That's a testament not only to the persistence of low oil prices, but also the declining cost of renewable energies in recent years.

Caterpillar moving to Chicago: The Global construction-equipment manufacturer is moving its headquarters from Peoria, Illinois to the Chicago area. The news illustrates the corporate need locate themselves—and their jobs—in just a handful of populous metro areas because that's where it's easiest to attract talent and provide easy access to global travel hubs.

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Deadly storm Zeta pummels parts of Alabama and Florida

A satellite image of Hurricane Zeta. Photo: National Hurricane Center/NOAA

Tropical Storm Zeta has killed at least two people and caused mass power outages after making landfall in Louisiana as a Category 2 hurricane Wednesday.

What's happening: After "battering southeastern Louisiana and southern Mississippi," Zeta weakened to a tropical storm over central Alabama early on Thursday, but it was still packing powerful winds and heavy rains, per the National Hurricane Center.

Taiwan reaches a record 200 days with no local coronavirus cases

Catholics go through containment protocols including body-temperature measurement and hands-sanitisation before entering the Saint Christopher Parish Church, Taipei City, Taiwan, in July. Photo: Ceng Shou Yi/NurPhoto via Getty Images

Taiwan on Thursday marked no locally transmitted coronavirus cases for 200 days, as the island of 23 million people's total number of infections reported stands at 550 and the COVID-19 death toll at seven.

Why it matters: Nowhere else in the world has reached such a milestone. While COVID-19 cases surge across the U.S. and Europe, Taiwan's last locally transmitted case was on April 12. Experts credit tightly regulated travel, early border closure, "rigorous contact tracing, technology-enforced quarantine and universal mask wearing," along with the island state's previous experience with the SARS virus, per Bloomberg.

Go deeper: As Taiwan's profile rises, so does risk of conflict with China

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Politics: Biden ahead in Wisconsin, Michigan as cases surge in the Midwest.
  2. Health: Fauci says U.S. may not return to normal until 2022 — Trump's testing czar: Surge "is real" and not just caused by more tests Some coronavirus survivors have "autoantibodies."
  3. Business: Consumer confidence sinking Testing is a windfall.
  4. World: Europe faces "stronger and deadlier" wave France imposes lockdown Germany to close bars and restaurants for a month.
  5. Sports: Boston Marathon delayed MLB to investigate Dodgers player who joined celebration after positive COVID test.