Feb 16, 2018

Mitt Romney announces Senate bid

Mitt Romney officially announced he's running for Senate in Utah in a video message Friday.

Key quote: "Utah has a lot to teach the politicians in Washington. Utah has balanced its budgets, Washington is buried in debt. Utah exports more abroad than it imports, Washington has that backwards. Utah welcomes legal immigrants from around the world, Washington sends them a message of exclusion. And on Utah’s Capitol Hill, people treat one another with respect."

The backdrop: Romney's name has been floated for months, and Orrin Hatch announcing his retirement opened the way for him.

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Coronavirus dashboard

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Global: Total confirmed cases as of 10:30 a.m. ET: 1,502,618 — Total deaths: 89,915 — Total recoveries: 339,775 — Map.
U.S.: Total confirmed cases as of 10:30 a.m. ET: 432,554 — Total deaths: 14,829 — Total recoveries: 24,213 — Map.
Business: The Fed will lend up to $2.3 trillion. — Another 6.6 million jobless claims were filed last week
Federal government latest: Congress' $250 billion PPP injection could come too late for some businesses.
Public health latest: Anthony Fauci said social distancing could reduce the death toll to 60,000.
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Courtenay Brown

Fed will lend up to $2.3 trillion amid coronavirus crisis

Fed Chairman Jerome Powell at a press conference in March. Photo: Eric Baradat/AFP via Getty Images

The Federal Reserve announced Thursday that it will support the coronavirus-hit economy with up to $2.3 trillion in loans to businesses, state and city governments — made possible in part by Treasury funds set aside in the government stimulus package.

Why it matters: The Fed has taken more action amid the coronavirus outbreak than it has in any other financial crisis in U.S. history in an effort to blunt the effects of the resulting economic shutdown.

DetailsUpdated 26 mins ago - Economy & Business

Dan Primack

Senate Democrats block Republicans' $250 billion PPP injection

Illustration: Sarah Grillo/Axios

Before the Paycheck Protection Program formally launched last Friday, we knew two things: The rollout would be rocky, and the initial $250 billion wouldn't be enough for America's small businesses.

The state of play: Banks and government officials have been working to smooth out the process. On Thursday, Senate Majority Leader Mitch McConnell's (R-Ky.) attempt to pump another $250 billion into the program via unanimous consent was blocked by Democrats, who are proposing an alternative that includes billions more for hospitals and states.

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