Fed chairman Jerome Powell at a news conference in July. Photo: Andrew Caballero-Reynolds via AFP

Speaking on a panel in Zurich on Friday, Federal Reserve chairman Jerome Powell remained optimistic about the state of the U.S. economy — including the labor market, despite the morning's softer-than-expected jobs numbers. Still, he hinted that another interest rate cut could be coming later this month.

Why it matters: Powell said the Fed is not "forecasting or expecting a recession," but noted there are significant risks, including slowing global growth and uncertainty around trade policy which is "causing companies to hold back on business investment decisions." Powell also said that lowering "the expected path of interest rates" has also supported the U.S. economic outlook.

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Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 4 p.m. ET: 31,433,180 — Total deaths: 966,970— Total recoveries: 21,546,587Map.
  2. U.S.: Total confirmed cases as of 4 p.m. ET: 6,882,969 — Total deaths: 200,477 — Total recoveries: 2,615,974 — Total tests: 95,846,925Map.
  3. Health: The U.S. reaches 200,000 coronavirus deaths — The CDC's crumbling reputation — America turns against coronavirus vaccine.
  4. Politics: Elected officials are failing us on much-needed stimulus.
  5. Business: Two-thirds of business leaders think pandemic will lead to permanent changes — Fed chair warns economy will feel the weight of expired stimulus.
  6. Sports: NFL fines maskless coaches.
2 hours ago - Podcasts

The big business of immigrant detention

Around 70% of all immigration detention centers are run by private companies, including the one at the heart of a new whistleblower complaint that alleges systemic medical neglect and malpractice.

Axios Re:Cap digs into the business of immigrant detention, including oversight and profit incentives, with Jonathan Blitzer, a staff writer for the New Yorker who’s covered the subject for years.

Biden campaign plans travel around competitive Senate races

Joe Biden elbow-bumping a worker during a campaign stop in Wisconsin. Photo: JIM WATSON/AFP via Getty Images

Joe Biden's campaign is storming states with competitive Senate races this week to help boost Democratic candidates in the run-up to the election.

Why it matters: Supreme Court Justice Ruth Bader Ginsburg's death is galvanizing Democrats to fight harder for control of the Senate with less than two months before Election Day.

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