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18 mins ago - Politics & Policy

House prepares to pass revised COVID relief bill as White House talks hit roadblock

Schumer and Pelosi. Photo: Alex Wong/Getty Images

The House appeared likely to move ahead Thursday with Democrats' revised $2.2 trillion coronavirus relief bill as 11th-hour negotiations with the White House continued.

The latest: After meeting for more than 90 minutes on Capitol Hill on Wednesday, House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin shared a phone call at 1 p.m. Thursday. They plan to speak again later this afternoon, according to a Pelosi aide. Wednesday's meeting was the first in-person meeting between the two since August, when negotiations stalled.

Felix Salmon, author of Capital
1 hour ago - Economy & Business

How equity became more attractive than debt

Illustration: Annelise Capossela/Axios

The prime example of something highly improbable that became conventional wisdom: The idea that both interest rates and inflation will remain near zero for well over a decade.

Why it matters: As Axios' Dan Primack writes, private equity firms (the polite rebranding of "leveraged buyouts") have historically bought companies and loaded them up with debt.

Felix Salmon, author of Capital
1 hour ago - World

When society faces the unprecedented

Illustration: Aïda Amer/Axios

Our febrile world is not normal.

The big picture: The precautions that we're taking against the spread of COVD-19; the way in which the president of the U.S. delights in violating political norms; the fires, hurricanes and other signs that catastrophic global warming has arrived; the virulent spread of the QAnon conspiracy theory — all of these things, and many more, represent a stunning break with the world as we knew it.