Powell in 2015. Photo: Andrew Harnik / AP

Jerome Powell, who is expected to be President Trump's pick to be the next chairman of the Federal Reserve, has supported the policies of current chairwoman Janet Yellen, the New York Times reports:

"Mr. Powell has consistently supported the Fed's campaign to stimulate economic growth, although he expressed some reservations in internal debates about the extent of those efforts. In recent years, he has backed the methodical unwinding of those efforts, and analysts expect he would seek to raise interest rates at about the same pace as Ms. Yellen.On regulatory policy, Mr. Powell has defended most changes made after the financial crisis as necessary to protect the broader economy, but he has said that he supports efforts to streamline those rules."

Why this matters: Trump's appointments to the Federal Reserve will be some of the most consequential of his administration. The Times reports he resisted pressure from conservatives to "make a larger change at the Fed" by appointing an "outspoken critic" like Stanford economist John Taylor.

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Updated 3 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 11 a.m. ET: 19,680,042 — Total deaths: 727,777 — Total recoveries — 11,962,565Map.
  2. U.S.: Total confirmed cases as of 11 a.m. ET: 5,002,523 — Total deaths: 162,455 — Total recoveries: 1,643,118 — Total tests: 61,080,587Map.
  3. Politics: Nancy Pelosi says states don't have the funds to comply with Trump's executive order on employment — Trump adviser Larry Kudlow says he regrets suggesting the benefits could only be extended by Congress.
  4. Public health: Fauci says chances are "not great" that COVID-19 vaccine will be 98% effective — Poll: 1 in 3 Americans would decline COVID-19 vaccine.
  5. Schools: Nine test positive at Georgia school where photo showing packed hallway went viral — How back-to-school is playing out in the South as coronavirus rages on — Princeton, Johns Hopkins, Howard to hold fall classes online.

Blumenthal calls classified briefing on Russian interference "absolutely chilling"

Sen. Richard Blumenthal (D- Conn.) called on the Trump administration to declassify intelligence detailing Russian efforts to influence the 2020 elections, telling MSNBC on Sunday that the classified briefing lawmakers received about the Kremlin's activities this week was "absolutely chilling."

The big picture: National Counterintelligence and Security Center Director William Evanina said in a statement Friday that the Russian government is "using a range of measures" to "denigrate" Joe Biden ahead of the election. China and Iran would prefer that Trump is defeated, according to Evanina.

2 hours ago - Health

Ex-FDA head: U.S. will "definitely" see 200,000 to 300,000 virus deaths in 2020

Former FDA commissioner Scott Gottlieb said on CBS News' "Face the Nation" that the coronavirus death toll in the U.S. will be "definitely" somewhere between 200,000 and 300,000 by the end of 2020.

Why it matters: "Whether we're closer to 200,000 or closer to 300,000 depends on what we do now and how it evolves," Gottlieb warned on Sunday as the U.S. surpassed five million confirmed coronavirus cases.