Get the latest market trends in your inbox

Stay on top of the latest market trends and economic insights with the Axios Markets newsletter. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

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

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

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Denver news in your inbox

Catch up on the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Des Moines news in your inbox

Catch up on the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Minneapolis-St. Paul news in your inbox

Catch up on the most important stories affecting your hometown with Axios Minneapolis-St. Paul

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tampa-St. Petersburg news in your inbox

Catch up on the most important stories affecting your hometown with Axios Tampa-St. Petersburg

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Floodwater from the Mississippi River begins to cover the streets on May 30 in Barnhart, Mo. Photo: Scott Olson/Getty Images

Flooding in Arkansas, Missouri and Oklahoma has caused thousands to evacuate, as recent levee breaches along the Arkansas and Mississippi Rivers create new waterways that have spread into homes and businesses.

The latest: Arkansas officials called for 160 homes in Yell County to evacuate on Friday as a levee breach brought floodwaters to over 40 feet. Three Missouri towns were told to evacuate on Thursday after a levee breached along a creek connected to the Mississippi River. Rivers in the region are at or near all-time highs after weeks of torrential rainfall.

What to watch: Floodwaters are slowly making their way down the Mississippi River toward Louisiana, where the river is expected to crest at the Morganza Spillway by June 2, at the second-highest level on record. Heavy rain will return to the Southern Plains in the first week of June.

The big picture, via Axios' Andrew Freedman: The ongoing flooding is consistent with scientific studies showing the increasingly apparent effects of human-caused climate change. A warmer atmosphere holds more water vapor on average, which contributes to an uptick in heavy precipitation events. These trends have been seen in much of the U.S. in recent decades.

In Arkansas:

In Oklahoma:

In Missouri:

Go deeper: Historic flooding swamps Oklahoma, Arkansas as storms prove relentless

Go deeper

Dion Rabouin, author of Markets
Updated 3 hours ago - Economy & Business

Our make-believe economy is here to stay

Illustration: Eniola Odetunde/Axios

The Federal Reserve and global central banks are remaking the world's economy in an effort to save it, but have created something of a monster.

Why it matters: The Fed-driven economy relies on the creation of trillions of dollars — literally out of thin air — that are used to purchase bonds and push money into a pandemic-ravaged economy that has long been dependent on free cash and is only growing more addicted.

Mike Allen, author of AM
4 hours ago - Politics & Policy

Why Trump may still fire Barr

Photo: Jabin Botsford/The Washington Post via Getty Images

Attorney General Barr may be fired or resign, as President Trump seethes about Barr's statement this week that no widespread voter fraud has been found.

Behind the scenes: A source familiar with the president's thinking tells Axios that Trump remains frustrated with what he sees as the lack of a vigorous investigation into his election conspiracy theories.

Mike Allen, author of AM
4 hours ago - World

Scoop: Trump's spy chief plans dire China warning

Xi Jinping reviews troops during a military parade in Beijing last year. Photo: Thomas Peter/Reuters

Director of National Intelligence John Ratcliffe on Thursday will publicly warn that China's threat to the U.S. is a defining issue of our time, a senior administration official tells Axios.

Why it matters: It's exceedingly rare for the head of the U.S. intelligence community to make public accusations about a rival power.