Searching for smart, safe news you can TRUST?

Support safe, smart, REAL journalism. Sign up for our Axios AM & PM newsletters and get smarter, faster.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Searching for smart, safe news you can TRUST?

Support safe, smart, REAL journalism. Sign up for our Axios AM & PM newsletters and get smarter, faster.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Denver news in your inbox

Catch up on the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Des Moines news in your inbox

Catch up on the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Minneapolis-St. Paul news in your inbox

Catch up on the most important stories affecting your hometown with Axios Minneapolis-St. Paul

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tampa-St. Petersburg news in your inbox

Catch up on the most important stories affecting your hometown with Axios Tampa-St. Petersburg

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!
Expand chart
Data: Bureau of Economic Analysis; Chart: Chris Canipe/Axios

The U.S. economy grew at a 3.1% annualized rate in the first quarter of the year, revised down from the initial 3.2% estimate. It was a faster pace than the previous quarter's 2.2% and significantly more than the 2.1% economists were expecting, the Commerce Department said in April, thanks to strong exports and consumer spending.

Why it matters: Economists are less optimistic about what’s ahead for economic growth for the rest of the year, thanks to uncertainty about how the escalated U.S.-China trade war could impact business sentiment. The Atlanta Fed, for example, estimates Q2 GDP will come in at 1.3%, while JP Morgan says growth will be just 1% in the second quarter.

Go deeper ... Goldman Sachs: First quarter of 2019 is a "GDP pothole"

Go deeper

Dave Lawler, author of World
45 mins ago - World

Oxford and AstraZeneca's vaccine won't just go to rich countries

Waiting, in New Delhi. Photo: Jewel Samad/AFP via Getty Images

While the 95% efficacy rates for the Moderna and Pfizer/BioNTech vaccines are great news for the U.S. and Europe, Monday's announcement from Oxford and AstraZeneca may be far more significant for the rest of the world.

Why it matters: Oxford and AstraZeneca plan to distribute their vaccine at cost (around $3-4 per dose), and have already committed to providing over 1 billion doses to the developing world. The price tags are higher for the Pfizer ($20) and Moderna ($32-37) vaccines.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

  1. Vaccines: Key information about the effective COVID-19 vaccines — Oxford University's 90%-effective vaccine.
  2. Health: U.S. coronavirus hospitalizations keep breaking recordsWhy we're numb to 250,000 coronavirus deaths — Americans line up for testing ahead of Thanksgiving.
  3. Travel: Air travel's COVID-created future — Over 1 million U.S. travelers flew on Friday, despite calls to avoid holiday travel.
  4. World: England to impose stricter regional systemU.S. coronavirus hotspots far outpacing Europe's — Portugal to ban domestic travel for national holidays.
  5. Economy: The biggest pandemic labor market drags.
  6. Sports: Coronavirus precautions leave college basketball schedule in flux.

Biden transition names first Cabinet nominees

Biden with John Kerry. Photo: Justin Sullivan/Getty Images

President-elect Joe Biden on Monday unveiled his nominations for top national security positions in his administration, tapping former Secretary of State John Kerry as his climate czar and former deputy national security adviser Avril Haines as director of national intelligence.

Why it matters: Haines, if confirmed, would make history as the first woman to oversee the U.S. intelligence community. Biden also plans to nominate Alejandro Mayorkas to become the first Latino secretary of the Department of Homeland Security.

Get Axios AM in your inbox

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!