Illustration: Axios Visuals

So far, there's no evidence of pain from President Trump's ongoing trade war with China — at least from the economic indicators. Federal Reserve Chairman Jerome Powell told a room of reporters earlier this week that there have been no measurable effects of the trade tension.

Be smart: That doesn't mean market-watchers and economists aren't bracing for an impact around the world. And there's already some evidence of an impact on individual companies.

A few impacts on the horizon:

  • Canada's central bank could "pause raising (or even cut) rates to help borrowers" in response to a significant tariff or trade shock, ratings agency Fitch says in a new paper.
  • Chinese policymakers could also amp up easing of monetary policy and look at tax cut packages with the aim of "boosting domestic demand" to buffer trade shocks, Bank of America says.
  • Iowa could see economic losses of $1.6 billion due to potential ripple effects from hits to the corn, soybean, hog and ethanol sectors, researchers at Iowa State University estimate.

And one trade blow that's already here:

  • This week, two more companies — Ford and Bed, Bath & Beyond — confirmed that the impact from tariffs is hitting their bottom line.

What to watch: Expect more predictions of downside economic risk to the trade war. It's doubtful that these types of studies will force the Trump administration to back away from the tariff tactics, but obvious side effects might, like a stock market plunge, an increase in unemployment or a hit to the GDP — none of which we have seen yet.

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Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 3 p.m. ET: 12,794,395 — Total deaths: 566,210 — Total recoveries — 7,033,187Map.
  2. U.S.: Total confirmed cases as of 2 p.m. ET: 3,278,946 — Total deaths: 135,066 — Total recoveries: 995,576 — Total tested: 39,553,395Map.
  3. States: Florida smashes single-day record for new coronavirus cases with over 15,000 — Miami-Dade mayor says "it won't be long" until county's hospitals reach capacity.
  4. Public health: Ex-FDA chief projects "apex" of South's coronavirus curve in 2-3 weeks — Coronavirus testing czar: Lockdowns in hotspots "should be on the table"
  5. Education: Betsy DeVos says schools that don't reopen shouldn't get federal funds — Pelosi accuses Trump of "messing with the health of our children."

Lindsey Graham says he will ask Mueller to testify before Senate

Photo: Tasos Katopodis/Getty Images

Senate Judiciary Chairman Lindsey Graham (R-S.C.) tweeted Sunday that he will grant Democrats' request to call former special counsel Robert Mueller to testify before his committee.

The big picture: The announcement comes on the heels of Mueller publishing an op-ed in the Washington Post that defended the Russia investigation and conviction of Roger Stone, whose sentence was commuted by President Trump on Friday.

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Florida smashes single-day record for new coronavirus cases

Data: Covid Tracking Project; Chart: Axios Visuals

Florida reported 15,299 confirmed coronavirus cases on Sunday — a new single-day record for any state, according to its health department.

The big picture: The figure shatters both Florida's previous record of 11,458 new cases and the single-state record of 11,694 set by California last week, according to AP. It also surpasses New York's daily peak of 11,571 new cases in April, and comes just a day after Disney World reopened in Orlando.