Jan 9, 2019

Government shutdown could threaten U.S. credit rating

Furloughed federal workers and area elected officials hold a protest rally in Philadelphia. (Photo by Mark Makela/Getty Images)

Fitch Ratings warned it could re-evaluate the U.S.'s triple-A credit rating if the government shutdown continues until March 1 and leads to a debt ceiling breach, Reuters reports.

Why it matters: A credit downgrade would make it harder for the U.S. government to borrow money and raise borrowing costs. During the 2011 debt-ceiling crisis, Standard & Poor's cut the U.S.'s triple-A credit rating for the first time since 1941.

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Jennifer A. Kingson
2 hours ago - Economy & Business

Markets swell as the economy shrinks

Illustration: Eniola Odetunde/Axios

The economy is sputtering, but the markets are thriving — a highly unusual event that shows how the coronavirus has thrown all bets off.

Why it matters: The disconnect adds to the wealth gap. The richest 10% of households — who own 84% of stocks — are getting richer, while millions of out-of-work Americans cross their fingers that pandemic unemployment benefits will be extended.

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Axios
Updated 9 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 10 p.m. ET: 10,836,500 — Total deaths: 520,605 — Total recoveries — 5,723,808 — Map.
  2. U.S.: Total confirmed cases as of 10 p.m. ET: 2,735,554 — Total deaths: 128,684 — Total recoveries: 781,970 — Total tested: 33,462,181 — Map.
  3. Public health: The states where face coverings are mandatory — Regeneron stops trial after drug fails to help patients — What we know about the coronavirus immune response — Fauci says it has been a "very disturbing week" for the spread of the coronavirus in the U.S.
  4. Business: Top business leaders urge the White House to develop mandatory mask guidelines.
  5. Politics: Herman Cain hospitalized for COVID-19 after attending Trump Tulsa rally — Biden downplays jobs number, rebukes Trump for ignoring health crisis.
  6. Economy: The economy may recover just quickly enough to kill political interest in more stimulus.
  7. States: Texas mandates face masks in public spaces — Florida reports more than 10,000 new coronavirus cases, and its most-infected county issues curfew.
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Orion Rummler
10 hours ago - Health

Fauci: Coronavirus surges mark a "very disturbing week" in the U.S.

Fauci testifies to the Senate Health, Education, Labor and Pensions Committee on June 30. Photo: Al Drago/AFP via Getty Images

NIAID director Anthony Fauci told medical journal JAMA on Thursday that it has been a "very disturbing week" for the spread of the novel coronavirus in the U.S.

What's happening: The number of coronavirus cases increased in the vast majority of states over the last week, and decreased in only two states plus the District of Columbia, Axios' Caitlin Owens reports.

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