Council of Economic Advisers chairman Kevin Hassett. Photo: Nicholas Kamm/AFP/Getty Images

Kevin Hassett, who has served as chairman of the Council of Economic Advisers since September 2017, will soon step down from his post, President Trump announced Sunday.

"Kevin Hassett, who has done such a great job for me and the Administration, will be leaving shortly. His very talented replacement will be named as soon as I get back to the U.S. I want to thank Kevin for all he has done — he is a true friend!"
— Trump tweet

Why it matters: Hassett is leaving in the middle of a multifront trade war launched by the U.S. The former scholar at the conservative American Enterprise Institute is the latest in a long line of senior White House officials to leave the administration since Trump took office in January 2017.

The big picture: Hassett said he considers the post to be a 2-year position and his departure has nothing to do with the trade war, according to the Washington Post. "The trade story and the departure story are completely different stories,” he said, per the Post.

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Biden releases 2019 tax returns ahead of debate

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Joe Biden's campaign released his 2019 tax returns on Tuesday, showing that he and his wife, Jill, paid nearly $300,000 in federal taxes last year.

Why it matters: The release, timed just hours before the first presidential debate, comes days after a bombshell New York Times report said that President Trump paid only $750 in federal taxes in 2016 and 2017. Biden's team is hoping to make the tax contrast a sticking point during their showdown.

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NYC's coronavirus positivity rate spikes to highest since June

New York Mayor Bill de Blasio. Photo: Noam Galai/Getty Images

New York City's coronavirus positivity rate has ticked up to 3.25%, its highest since June, Mayor Bill de Blasio said at a news conference on Tuesday.

Why it matters: The jump — from 1.93% on Monday — came on the first day that public elementary classrooms reopened in the city after months of closures, but guidelines state that all public schools will have to shut if the citywide seven-day positivity rate stays above 3%.