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Treasury Secretary Steven Mnuchin said on Fox News Sunday that the country is "well on the path" for four or five years of annual growth of 3%.
The details: "We can only project a couple years in the future, but I think we’re well on this path for several years," Mnuchin said. The government reported on Friday that the economy grew 4.1% in the second quarter, its fastest growth since 2014.
Illustration: Sarah Grillo/Axios
Uber has agreed to acquire food delivery company Postmates for $2.65 billion in an all-stock deal, the companies announced Monday.
Why it matters: This is the latest merger for the food delivery space as the sector undergoes an ongoing market consolidation.
Despite cutting expectations for companies' earnings by the most in history and revenue by the most since 2009, Wall Street analysts are getting increasingly bullish on the overall direction of the U.S. stock market.
What's happening: Equity analysts are expecting earnings in the second quarter to fall by 43.8% — the most since 2008's fourth quarter 69.1% decline.
The United States' alarming rise in coronavirus cases isn't due to increased testing — particularly not where cases have grown fastest over the last month.
Why it matters: The U.S. doesn't yet know what it looks like when a pandemic rages on relatively unchecked after the health system has become overwhelmed. It may be about to find out.