Jan 1, 2019

Jair Bolsonaro is sworn in as Brazil's president

Brazil's new president, Jair Bolsonaro. Photo: Carl de Souza/AFP/Getty Images

Jair Bolsonaro was sworn in as Brazil's president on Tuesday after a controversial, polarizing campaign to radically change the center-left path taken by Latin America's biggest country over the last 15 years.

The state of play: Bolsonaro, a provocative, far-right populist, has pledged to purge the country of corruption and crack down on crime — even if that means ignoring democratic norms. Brazil's once-promising economy, which averaged 4% GDP growth between 2004 and 2013, has been crippled by recession and corruption scandals at the highest levels of government.

Go deeper: Bolton to praise Bolsonaro, declare "Troika of Tyranny" in Latin America speech

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Updated 31 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 8 a.m. ET: 6,294,222 — Total deaths: 376,077 — Total recoveries — 2,711,241Map.
  2. U.S.: Total confirmed cases as of 8 a.m. ET: 1,811,277 — Total deaths: 105,147 — Total recoveries: 458,231 — Total tested: 17,340,682Map.
  3. Public health: Nearly 26,000 coronavirus deaths in nursing homes have been reported to federal health officials —Coronavirus looms over George Floyd protests across the country.
  4. Federal government: Trump lashes out at governors, calls for National Guard to "dominate" streets.
  5. World: Former FDA commissioner says "this is not the time" to cut ties with WHO.
  6. 🎧 Podcast: The virus didn't go away.

More than 1 in 6 black workers lost jobs between February and April

Adapted from EPI analysis of Bureau of Labor Statistics data; Chart: Andrew Witherspoon/Axios

As is often the case, the staggering job losses in the coronavirus-driven recession have been worse for black workers.

By the numbers: According to a report from the Economic Policy Institute, titled "Racism and economic inequality have predisposed black workers to be most hurt by coronavirus pandemic," more than 1 in 6 black workers lost their jobs between February and April.

Coronavirus could lower GDP by $15.7 trillion

Reproduced from Congressional Budget Office; Chart: Axios Visuals

The CBO released projections on Monday for U.S. nominal GDP to be lower by $15.7 trillion over the next decade than its estimate in January as a result of the coronavirus pandemic.

What they're saying: It predicts that when adjusted for inflation GDP will be $7.9 trillion lower over the next decade and down by $790 billion in the second quarter of this year — a 37.7% quarterly contraction.