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View of the Olympic Rings near the new National Stadium in Tokyo. Photo: Stanislav Kogiku/SOPA Images/LightRocket via Getty Images

The fate of the Tokyo Olympics is expected to be decided within the next three months amid fears surrounding the spread of the novel coronavirus, International Olympic Committee member Dick Pound told the Associated Press in an interview on Tuesday.

The state of play: The games are on as of now, but the committee's final decision will depend on discussions with the World Health Organization, Pound said. The Olympics are set to bring roughly 11,000 athletes to Tokyo, with the event scheduled to begin on July 24. Another 4,400 athletes will arrive in Japan for the Paralympics set to start on Aug. 25.

What he's saying: "All indications are at this stage that it will be business as usual. So keep focused on your sport and be sure that the IOC is not going to send you into a pandemic situation," Pound said.

  • "It's a big, big, big decision and you just can't take it until you have reliable facts on which to base it."

Yes, but: Pound said if the Olympics couldn't take place in Tokyo this summer, canceling would be more likely than moving to another city, or postponement.

  • "You just don't postpone something on the size and scale of the Olympics."
  • "There's so many moving parts, so many countries and different seasons, and competitive seasons, and television seasons. You can't just say, we'll do it in October."

Go deeper: CDC issues travel warning as South Korea coronavirus cases near 1,000

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Screenshot: Fox News

President Trump has delivered a farewell speech and departed Washington for the last time on Air Force One, kicking off the day that will culminate with President-elect Joe Biden taking office.

What's next: The inaugural celebration for young Americans is being livestreamed, starting at 10am.

Updated 38 mins ago - Politics & Policy

Trump departs on final Air Force One flight

President Trump and his family took off on Air Force One at 9 a.m. on Wednesday morning for the final time en route to Florida.

The big picture: Trump's final hours as president were punctuated by his decisions to snub his successor's inauguration and grant pardons to many of his allies who have been swept up in corruption scandals.

Dion Rabouin, author of Markets
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Janet Yellen said all the right things to reassure the markets

Illustration: Aïda Amer/Axios

Treasury Secretary nominee and former Fed chair Janet Yellen's confirmation hearing before the Senate Finance Committee on Tuesday showed markets just what they can expect from the administration of President-elect Joe Biden: more of what they got under President Trump — at least for now.

What it means: Investors and big companies reaped the benefits of ultralow U.S. interest rates and low taxes for most of Trump's term as well as significant increases in government spending, even before the coronavirus pandemic.