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Macro

Axios Macro

Fed watchdog clears former chair Powell in renovation probe

America's hated economic boom

Investors' P-doom scenario in AI: Lack of profits

AI spending eclipses past booms

Data: Stijn Van Nieuwerburgh, "Financing the AI Buildout," Brookings Papers on Economic Activity conference draft; Chart: Axios/Emily Peck

Markets

Axios Markets

Why the Treasury yield curve is in focus again

Watch the curves 

Data: FactSet; Chart: Axios/Matt Phillips

Midterm pocketbook pain bites Trump

Key inflation, employment data out this week

A column chart that shows monthly projected changes in U.S. payroll employment from October 2025 to September 2026. Payrolls range from minus 156,000 in February 2026 to 214,000 in March 2026. Gains and losses alternate early, then remain positive from March through September, easing to 98,000 by September.

Change in U.S. payroll employment

Data: Bureau of Labor Statistics, Bloomberg; Note: September 2026 number is median analyst projection; Chart: Neil Irwin/Axios

Wall Street strategist Zervos joins Treasury as Bessent adviser

Why the surge in bond yields could be a positive

Economists have been rethinking views on growth&nbsp;

Data: FactSet; Chart: Axios Markets/Matt Phillips

Worries over rates and AI agents weigh on bank stocks

A line chart that tracks the KBW Nasdaq Bank Index daily from March 25 to Sept. 25, 2026

KBW Nasdaq Bank Index

Data: Financial Modeling Prep; Chart: Jeffrey Cane/Axios

It's a 5% world. We're just living in it

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News and analysis that matters about the Federal Reserve and interest rates.