Nov 20, 2017

Yellen to leave Federal Reserve once new chair takes over

Federal Reserve Chair Janet Yellen during an awards ceremony earlier this month. Photo: Jacquelyn Martin / AP

The Federal Reserve announced Monday that Janet Yellen will leave after her successor, Trump-nominated Jerome Powell, takes over. Her four-year term as chairwoman comes to an end on February 3, 2018, but she could have remained on the board until 2024.

Why it matters: Trump will now get to fill four seats on the seven-member Federal Reserve Board of Governors

Read her letter to the president.

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Axios

Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

Global: Total confirmed cases as of 7 p.m. ET: 1,504,971 — Total deaths: 87,984 — Total recoveries: 318,068 — Map.
U.S.: Total confirmed cases as of 7 p.m. ET: 424,945 — Total deaths: 14,529 — Total recoveries: 23,292 — Map.
Federal government latest: Top Trump administration officials had been developing a plan to give cloth masks to huge numbers of Americans, but the idea lost traction amid heavy internal skepticism.
States latest: Chicago's Cook County jail is largest-known source of coronavirus in U.S.
Business update: One-third of U.S. jobs are at risk of disappearing, mostly affecting low-income workers.
World update: WHO Director-General Tedros Adhanom Ghebreyesus urged countries to put politics aside "if you don’t want to have many more body bags.”
Environment update: COVID-19 is underscoring the connection between air pollution and dire outcomes from respiratory diseases.
What should I do? Pets, moving and personal health — Answers about the virus from Axios experts — What to know about social distancing — Q&A: Minimizing your coronavirus risk.
Other resources: CDC on how to avoid the virus, what to do if you get it.

Subscribe to Mike Allen's Axios AM to follow our coronavirus coverage each morning from your inbox.

Keep ReadingUpdated 35 mins ago - Politics & Policy

Bryan Walsh

The pandemic and pollution

New York City's skyline on a smoggy day in May 2019. Photo: Drew Angerer/Getty Images

COVID-19 is underscoring the connection between air pollution and dire outcomes from respiratory diseases.

Why it matters: Old-fashioned air pollution is almost certainly the single biggest environmental health threat, contributing to the deaths of some 7 million people a year according to the WHO, making it comparable to deaths from smoking.

Go deeper2 hours ago - Health

Rebecca Falconer, Orion Rummler, Marisa Fernandez

U.S. coronavirus updates: Chicago jail is largest-known source of coronavirus

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Andrew Witherspoon/Axios

Chicago's Cook County jail is the largest-known source of coronavirus infections in the U.S., the New York Times reports. The White House has identified Chicago's metro area as a risk for exponential growth of the virus.

Why it matters: Public health officials have warned this would be a particularly deadly week for America, even as New York began to see declining trends of hospitalizations and ICU admissions.

Go deeperUpdated 3 hours ago - Health