Feb 27, 2018

U.S. economy looking good

Chairman of the Federal Reserve nominee Jerome Powell testifies during his confirmation hearing last year. Photo: Alex Wong/Getty Images

The new Fed Chairman, Jerome Powell, will tell Congress today the economy is growing well and "gradual" interest rate increases will continue, Bloomberg reports. He said recent stock market volatility isn't "weighing heavily" on the economy.

Why it matters: Powell will be making his first appearance before Congress later today since taking over for Janet Yellen. He's expected to continue her policies while he manages the Fed's response quickening economic growth (boosted by the tax bill), rising inflation and lower unemployment, Bloomberg says

  • "The economic outlook remains strong."
  • Inflation will increase and stabilize at around 2%.
  • "Wages should increase at a faster pace as well."

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In photos: George Floyd's North Carolina memorial service

The remains of George Floyd are brought into Cape Fear Conference B Church. Photo: Ed Clemente/POOL/AFP via Getty Images

Hundreds gathered in Raeford, North Carolina to honor George Floyd, whose death in Minneapolis nearly two weeks ago has sparked nationwide protests against police brutality.

The state of play: This is the second memorial for Floyd. A number of his family members remain in Raeford, including his sister. He was born in Fayetteville, North Carolina, The News and Observer reports.

Updated 45 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 2 p.m. ET: 6,800,604 — Total deaths: 396,591 — Total recoveries — 2,785,268Map.
  2. U.S.: Total confirmed cases as of 2 p.m. ET: 1,908,235 — Total deaths: 109,443 — Total recoveries: 491,706 — Total tested: 19,231,444Map.
  3. Public health: Some people are drinking and inhaling cleaning products in attempt to fight coronavirus Fauci: "Very concerned" about spread of virus amid George Floyd protests — Cities offer free testing for protesters.
  4. Tech: The pandemic is accelerating next-generation disease diagnostics — Robotics looks to copy software-as-a-service model as use of robots accelerates.
  5. Business: Sports, film production in California to resume June 12 after 3-month hiatus
  6. Education: Students and teachers flunked remote learning.

George Floyd updates

A protester holds a placard reading "Covid kills People, Racism kills Communities" as they attend a demonstration in Manchester, northern England, on June 6, to show solidarity with the Black Lives Matter movement in the wake of the killing of George Floyd. Photo: Paul Ellis/Contributor.

Thousands are gathering for a day of protests in Washington, D.C., almost two weeks after George Floyd's killing. Protesters in Australia and Europe staged anti-racism demonstrations on Saturday as well.

What's happening: A memorial service for Floyd is taking place in Raeford, North Carolina — near where he was born. Gov. Roy Cooper ordered all flags to fly at half-staff to honor Floyd until sunset. Thousands of demonstrators have gathered in Philadelphia and Chicago.