Charles Rex Arbogast/AP

Federal Reserve Chair Janet Yellen spoke Friday in Chicago, indicating that the Fed will raise rates on March 15th. She also suggested that if the economy develops as expected, the central bank will raise rates three times this year — sending the fed funds rate 0.75% higher to between 1.25% and 1.50%. Pantheon Macro's Ian Shepherdson emails, " They'll hike this month unless [next week's jobs numbers] are disastrous." Markets were flat on the news, suggesting that Yellen's comments were in line with expectations.

Escape velocity: We haven't seen a Fed Chair so bullish on the U.S. economy in more than a decade. Said Yellen, "The U.S. economy has exhibited remarkable resilience" in the face of significant headwinds, like the 2014 crash of the oil market and slow global growth. She pointed to low unemployment, rising inflation and healthier economies in Europe and China as reasons to be optimistic for the quarters ahead.

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Drive-in movie theaters are making a comeback

Illustration: Annelise Capossela/Axios

Drive-in movie theaters, the symbol of a bygone era before cellphones and constant distraction, are suddenly reemerging as a popular form of entertainment during the coronavirus crisis.

Why it matters: Indoor movie theaters are closed, but people still crave entertainment and a chance to get out of their houses. Watching a movie from the safety of a car is the next best thing.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 7:30 a.m. ET: 11,093,182 — Total deaths: 525,491 — Total recoveries — 5,890,052Map.
  2. U.S.: Total confirmed cases as of 7:30 a.m. ET: 2,795,163 — Total deaths: 129,437 — Total recoveries: 790,404 — Total tested: 34,213,497Map.
  3. States: ICU beds in Arizona's hot spot reach near capacity.
  4. Public health: The states where face coverings are mandatory Fauci says it has been a "very disturbing week" for the spread of the coronavirus in the U.S.
  5. Economy: The economy may recover just quickly enough to kill political interest in more stimulus.

Kimberly Guilfoyle tests positive for coronavirus

Photo: Mandel Ngan/AFP/Getty Images

Kimberly Guilfoyle, Donald Trump Jr.'s partner and a top fundraising official for the Trump campaign, tested positive for the coronavirus on Friday, The New York Times reports.

Why it matters: Guilfoyle is the third person in President Trump’s circle known to have contracted the coronavirus. Vice President Mike Pence's press secretary tested positive, as did a personal valet who served Trump food.