Mar 1, 2017

Inflation on the march

Christopher Matthews

Fed Chair Janet Yellen, J. Scott Applewhite/AP

Inflation data came in strong Wednesday morning, with the Commerce Department announcing personal consumption expenditures rose 1.7% in the past 12 months. While still below the Fed's target, there is a clear upward trend taking shape.

Fed to take away the punch bowl: High Frequency Economics Jim O'Sullivan thinks the release seals the deal for the Fed, writing that " the presumption is that there will be a rate hike" at the central bank's next meeting in two weeks, unless data in the meantime disappoints. Axios highlighted the reasons to be skeptical of this view earlier today.

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Axios

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 2:30 p.m. ET: 905,279 — Total deaths: 45,371 — Total recoveries: 190,710 — Map.
  2. U.S.: Total confirmed cases as of 2:30 p.m. ET: 199,092 — Total deaths: 4,361 — Total recoveries: 8,362 — Map.
  3. Federal government latest: Vice President Mike Pence said that White House modeling suggests "Italy may be the most comparable area to the United States" in terms of coronavirus impact.
  4. State updates: Florida and Pennsylvania are the latest to issue stay-at-home orders, totaling 34 states and Washington, D.C.
  5. 2020 update: West Virginia is latest state to delay its primary — Bernie Sanders urged Wisconsin to delay April 7 primary.
  6.  🎧 Podcast: The Defense Production Act
  7. What should I do? Answers about the virus from Axios experts — What to know about social distancing — Q&A: Minimizing your coronavirus risk.
  8. Other resources: CDC on how to avoid the virus, what to do if you get it.

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Keep ReadingArrowUpdated 1 min ago - Politics & Policy
Axios

West Virginia is latest state to delay primary due to coronavirus

Photo: Barbara Davidson/Getty Images

West Virginia Gov. Jim Justice rescheduled the state's May 12 primary election to June 9 on Wednesday, citing fears surrounding the coronavirus pandemic, AP reports.

Why it matters: 23 other states and the District of Columbia haven't held primaries yet. The White House is recommending, for now, that Americans practice social distancing and gather in groups of no more than 10 people — while many states have issued stay-at-home orders.

Go deeperArrowUpdated 1 hour ago - Politics & Policy
Rashaan Ayesh

Florida governor issues stay-at-home order

Photo: Joe Raedle/Getty Images

Florida Gov. Ron DeSantis ordered a statewide stay-at-home order on Wednesday after the number of coronavirus cases in the state rose to nearly 7,000.

Why it matters: DeSantis has been criticized for declining to order any statewide mandates to curb the spread of coronavirus as Florida — home to a significant elderly population — has increasingly become a hotspot. The order will go into effect Thursday at midnight and last for 30 days.

Go deeperArrow1 hour ago - Health