Justice Department Inspector General Michael Horowitz said at a hearing Wednesday that his investigation into the origins of the Russia probe found "no testimonial or documentary evidence" for the assertion that there was a "deep state conspiracy" within the FBI to take down candidate or President Trump.

The exchange:

SEN. FEINSTEIN: "So your report states that you didn't find documentary or testimonial evidence that political bias or improper motivation played a role."
HOROWITZ: "That's correct."
SEN. FEINSTEIN: "And you didn't find a 'deep state' conspiracy against candidate or President Trump."
HOROWITZ: "As to the opening, we found no bias, no testimonial or documentary evidence on that."
SEN. FEINSTEIN: "And no rationale for a 'deep state?'"
HOROWITZ: "We looked at Mr. Priestap, who was the decision maker, and we didn't find any evidence in his email or texts of having engaged in any bias or having any bias."

Why it matters: Even after the release of Horowitz's report, which found extensive wrongdoing in the FBI's surveillance process but no evidence of political bias, Trump and his allies have continued to cling to allegations that the Russia investigation was an attempt by Obama administration holdovers to take down his presidency.

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Updated 13 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 6 p.m. ET: 13,203,571 — Total deaths: 575,201 — Total recoveries — 7,331,068Map.
  2. U.S.: Total confirmed cases as of 6 p.m. ET: 3,407,798 — Total deaths: 136,252 — Total recoveries: 1,031,939 — Total tested: 41,004,275Map.
  3. Politics: Biden welcomes Trump wearing mask in public but warns "it’s not enough"
  4. Public health: Four former CDC heads say Trump's undermining of agency puts lives at risk — CDC director: U.S. could get coronavirus "under control" in 4–8 weeks if all wear masks.

Bank CEOs brace for worsening economic scenario

JPMorgan CEO Jamie Dimon. Photo: J. Lawler Duggan/For The Washington Post via Getty Images

Wells Fargo swung to its first loss since the financial crisis — while JPMorgan Chase and Citigroup reported significantly lower profits from a year earlier — as the banks set aside billions of dollars more in the second quarter for loans that may go bad.

Why it matters: The cumulative $28 billion in loan loss provisions that banks have so far announced they’re reserving serves as a signal they’re preparing for a colossal wave of loan defaults as the economy slogs through a coronavirus-driven downturn.

42 mins ago - Health

Moderna's vaccine spurred immune system response to coronavirus

Moderna's stock rose 16% after hours on this news. Photo: Jakub Porzycki/NurPhoto via Getty Images

Healthy volunteers who took Moderna's coronavirus vaccine candidate appeared to generate an immune system response to the virus, and there were "no trial-limiting safety concerns," according to a new study published in the New England Journal of Medicine.

Why it matters: The phase one trial is still small and does not definitively determine how effective the vaccine is. But Anthony Fauci of the National Institutes of Health, which is running the trial, told the Wall Street Journal that these data make it "pretty clear that this vaccine is capable of inducing quite good [levels] of neutralizing antibodies."