Energy Secretary Rick Perry. Photo: Maxym Marusenko/NurPhoto via Getty Images

Energy Secretary Rick Perry suggested Wednesday that he hasn't given up on finding ways to help economically struggling coal-fired and nuclear power plants, even though efforts to date haven't taken flight.

Why it matters: Competition from cheap natural gas, renewables and other forces are leading to ongoing closures of coal-fired plants, and could prompt more nuclear facilities to shutter in coming years.

  • The administration argues this threatens grid security and reliability, although a range of experts dispute the claim.

Perry said the country needs a “stable foundation of electric power that is un-interruptible” and that he wants more discussion.

  • “I’ve thrown a lot of jello over at the wall on this one trying to find some solutions that we can all, or at least a majority of us can get behind to support that,” he told reporters.
  • "We are looking for the answers to a question that vexes us," he said in a press conference at CERAWeek.

Where it stands: Early last year, the Federal Energy Regulatory Commission unanimously rejectedPerry's push for big changes to wholesale power market rules that would guarantee revenues for some coal-fired and nuclear plants.

Since then, the administration has mulled options for using sweeping national security powers to help plants stay open, but it hasn't gone anywhere.

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Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 6 p.m. ET: 13,203,571 — Total deaths: 575,201 — Total recoveries — 7,331,068Map.
  2. U.S.: Total confirmed cases as of 6 p.m. ET: 3,407,798 — Total deaths: 136,252 — Total recoveries: 1,031,939 — Total tested: 41,004,275Map.
  3. Politics: Biden welcomes Trump wearing mask in public but warns "it’s not enough"
  4. Public health: Four former CDC heads say Trump's undermining of agency puts lives at risk — CDC director: U.S. could get coronavirus "under control" in 4–8 weeks if all wear masks.

Bank CEOs brace for worsening economic scenario

JPMorgan CEO Jamie Dimon. Photo: J. Lawler Duggan/For The Washington Post via Getty Images

Wells Fargo swung to its first loss since the financial crisis — while JPMorgan Chase and Citigroup reported significantly lower profits from a year earlier — as the banks set aside billions of dollars more in the second quarter for loans that may go bad.

Why it matters: The cumulative $28 billion in loan loss provisions that banks have so far announced they’re reserving serves as a signal they’re preparing for a colossal wave of loan defaults as the economy slogs through a coronavirus-driven downturn.

2 hours ago - Health

Moderna's vaccine spurred immune system response to coronavirus

Moderna's stock rose 16% after hours on this news. Photo: Jakub Porzycki/NurPhoto via Getty Images

Healthy volunteers who took Moderna's coronavirus vaccine candidate appeared to generate an immune system response to the virus, and there were "no trial-limiting safety concerns," according to a new study published in the New England Journal of Medicine.

Why it matters: The phase one trial is still small and does not definitively determine how effective the vaccine is. But Anthony Fauci of the National Institutes of Health, which is running the trial, told the Wall Street Journal that these data make it "pretty clear that this vaccine is capable of inducing quite good [levels] of neutralizing antibodies."