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Kevin Warsh in London in 2014 (AP)

Possible nominees to top Fed posts, per the Wall Street Journal, "include former governors Lawrence Lindsey and Kevin Warsh, former BB&T Bank chief executive John Allison, and Stanford University economist John Taylor."

  • The front-page article is headlined "Cohn Now Seen as Unlikely Pick to Be Fed Chairman," which the Journal says is largely because of Cohn's public criticism of Trump's response to Charlottesville.
  • What's new: "Fed Vice Chairman Stanley Fischer said Wednesday he will resign in mid-October for personal reasons, adding another vacancy to the three others on the powerful seven-member Fed board of governors."
  • Why it matters: "His departure accelerates Mr. Trump's opportunity to put his stamp on the central bank."

Scenarios: "The White House has been considering nominating Marvin Goodfriend, a former research director at the Richmond Fed who is a professor at Carnegie Mellon University, to the Fed's board.""One possibility would be to nominate an incoming board member, such as Mr. Goodfriend, or a current board member, such as Fed governor Jerome Powell, to the vice-chair post."

Be smart: Since Cohn criticized Trump in a Financial Times article, White House insiders have been telling us the favorite for Fed chair is Kevin Warsh, an economic official in the George W. Bush White House, and member of the Fed board from 2006 until 2011.

Worthy of your time: Greg Ip column in Wall Street Journal, "Comfortably numb ... Why the U.S. Economy Shrugs Off Politics":"Federal default or nuclear war fall in the category of unprecedented and unthinkable. Faced with such risks, the usual reaction is to assume they won't happen. Yet that assumption becomes a risk in itself: It alleviates the pressure to prepare for either and multiplies the damage if they do occur."

Go deeper

1 hour ago - Health

U.S. surpasses 25 million COVID cases

A mass COVID-19 vaccination site at Dodger Stadium on Jan. 22 in Los Angeles, California. Photo: Mario Tama/Getty Images

The U.S has confirmed more than 25 million coronavirus cases, per Johns Hopkins data updated on Sunday.

The big picture: President Biden has said he expects the country's death toll to exceed 500,000 people by next month, as the rate of deaths due to the virus continues to escalate.

GOP implosion: Trump threats, payback

Spotted last week on a work van in Evansville, Ind. Photo: Sam Owens/The Evansville Courier & Press via Reuters

The GOP is getting torn apart by a spreading revolt against party leaders for failing to stand up for former President Trump and punish his critics.

Why it matters: Republican leaders suffered a nightmarish two months in Washington. Outside the nation’s capital, it's even worse.

Erica Pandey, author of @Work
6 hours ago - Economy & Business

The limits of Biden's plan to cancel student debt

Data: New York Fed Consumer Credit Panel/Equifax; Chart: Axios Visuals

There’s a growing consensus among Americans who want President Biden to cancel student debt — but addressing the ballooning debt burden is much more complicated than it seems.

Why it matters: Student debt is stopping millions of Americans from buying homes, buying cars and starting families. And the crisis is rapidly getting worse.