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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Dave Lawler, author of World
25 mins ago - World

A hinge moment for America's role in the world

Photo illustration: Aïda Amer/Axios. Getty Images photo: Saul Loeb/AFP

The world may be living through the last gasps of America First — or just getting a taste of what's to come.

Why it matters: President Trump's message at this week's virtual UN General Assembly was short and relatively simple: global institutions like the World Health Organization are weak and beholden to China; international agreements like the Iran deal or Paris climate accord are "one-sided"; and the U.S. has accomplished more by going its own way.

New York daily coronavirus cases top 1,000 for first time since June

Photo: Chip Somodevilla/Getty Images

New York on Friday reported more than 1,000 new coronavirus cases for the first since June.

Why it matters: The New York City metropolitan area was seen as the epicenter of the COVID-19 pandemic throughout the spring. But strict social distancing and mask mandates helped quell the virus' spread, allowing the state to gradually reopen.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 2 p.m. ET: 32,647,382 — Total deaths: 990,473 — Total recoveries: 22,527,593Map.
  2. U.S.: Total confirmed cases as of 2 p.m. ET: 7,053,171 — Total deaths: 204,093 — Total recoveries: 2,727,335 — Total tests: 99,488,275Map.
  3. States: U.S. reports over 55,000 new coronavirus cases.
  4. Health: The long-term pain of the mental health pandemicFewer than 10% of Americans have coronavirus antibodies.
  5. Business: Millions start new businesses in time of coronavirus.
  6. Education: Summer college enrollment offers a glimpse of COVID-19's effect.