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Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

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Exclusive: Americans have not been impressed by the Fed's coronavirus response

Dion Rabouin, author of Markets
Reproduced from CivicScience; Note: ±3% margin of error; Chart: Axios Visuals

Wall Street seems to unanimously approve of the Federal Reserve's actions so far, but most Americans are less enthused, a new poll from data firm CivicScience provided for Axios shows.

The state of play: The data shows that just 12% of respondents say they think the Fed has done "very well" in its response to the coronavirus outbreak, while 19% say the Fed has done "very poorly."

Why it matters: The Fed faced significant criticism for the belief among many Americans that it had bailed out big banks and wealthy financiers while average homeowners suffered after the 2008 global financial crisis. The central bank's reputation suffered greatly as a result.

What to watch: Jerome Powell has been very aware of this during his time as Fed chair, and particularly as the Fed has rolled out these sweeping new measures, Mellon's Reinhart says.

  • "What’s striking in all the policies is they’re careful to strike a populist tone, constantly reminding us of their Main Street lending program."
  • "They are concerned about their political legitimacy and working that better than they did in 08-09. They learned from that experience."

Go deeper: The Fed goes to war with coronavirus

Go deeper

Jonathan Swan
3 hours ago - Politics & Policy

Scoop: Gina Haspel threatened to resign over plan to install Kash Patel as CIA deputy

CIA Director Gina Haspel. Photo: Win McNamee/Getty Images

CIA Director Gina Haspel threatened to resign in early December after President Trump cooked up a hasty plan to install loyalist Kash Patel, a former aide to Rep. Devin Nunes (R-Calif.), as her deputy, according to three senior administration officials with direct knowledge of the matter.

Why it matters: The revelation stunned national security officials and almost blew up the leadership of the world's most powerful spy agency. Only a series of coincidences — and last minute interventions from Vice President Mike Pence and White House counsel Pat Cipollone — stopped it.

Go deeper (3 min. read)Arrow
Axios
Updated 5 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: Coronavirus deaths reach 4,000 per day as hospitals remain in crisis mode — CDC warns highly transmissible coronavirus variant could become dominant in U.S. in March.
  2. Politics: Biden says, "We will manage the hell out of" vaccine distribution — Biden taps ex-FDA chief to lead Operation Warp Speed amid rollout of COVID plan — Widow of GOP congressman-elect who died of COVID-19 will run to fill his seat.
  3. Vaccine: Battling Black mistrust of the vaccines — "Pharmacy deserts" could become vaccine deserts — Instacart to give $25 to shoppers who get vaccine.
  4. Economy: Unemployment filings explode again — Fed chair: No interest rate hike coming any time soon —  Inflation rose more than expected in December.
  5. World: WHO team arrives in China to investigate pandemic origins.
Go deeper (1 min. read)Arrow
Lachlan Markay
5 hours ago - Politics & Policy

John Weaver, Lincoln Project co-founder, acknowledges “inappropriate” messages

John Weaver aboard John McCain's campaign plane in February 2000. Photo: Robert Schmidt/AFP via Getty Images)

John Weaver, a veteran Republican operative who co-founded the Lincoln Project, declared in a statement to Axios on Friday that he sent “inappropriate,” sexually charged messages to multiple men.

  • “To the men I made uncomfortable through my messages that I viewed as consensual mutual conversations at the time: I am truly sorry. They were inappropriate and it was because of my failings that this discomfort was brought on you,” Weaver said.
  • “The truth is that I'm gay,” he added. “And that I have a wife and two kids who I love. My inability to reconcile those two truths has led to this agonizing place.”
Go deeper (1 min. read)Arrow

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