CORONAVIRUS: Recently, infections surpassed 2 million in the US, with at least 21 states currently facing an uptick in cases. This comes as more and more of the country continues to reopen. On that note: the US isn’t the only place facing this dilemma. Multiple countries that have seen a recent rise in new cases are still looking to ease restrictions. Think: Mexico, Iran, India, Russia, and Pakistan. Because, the economy. Meanwhile, ICYMI, Coachella was slated to take place a couple months ago - but was rescheduled for fall due to the coronavirus pandemic. Now, the festival’s reportedly being cancelled altogether this year. And in other news, the European Union’s not all that happy with China. The why: apparent misinformation.
POLITICS: Everyone’s talking about Michael Flynn. You know Flynn as the ex-Trump adviser who was a key figure in the Mueller probe. You also know him for pleading guilty to lying to the FBI...until the Justice Dept suddenly dropped his case last month. Cue controversy. Hint: recently, a former federal judge pointed fingers at the Justice Dept for a “gross misuse of prosecutorial power.” Then added that a court should trash the dept’s attempt to ditch the case - plus Flynn should be sentenced. Stay tuned. In other news, Prez Trump’s heading back on the campaign trail next month for his first rally since the pandemic. And speaking of which, West Virginia just elected its first openly transgender official. Also making headlines: Georgia officials are taking a magnifying glass to voting issues during Tuesday’s election.
BIZ: The Federal Reserve’s got some bad news. As in officials there are apparently expecting the unemployment rate to stay high for the next couple years - with predictions that it could end this year at 9.3 percent and reach 5.5 percent by 2022. Not a typo. Around the same time, the US Treasury Dept declared that the budget deficit expanded to a record $1.88 trillion (yes, with a tr) for the first eight months of the fiscal year (a period of 12 months when the gov records its income and spending). This comes as Treasury Sec Steve Mnuchin apparently told lawmakers that the country needs another round of economic stimulus. And in other biz news, Just Eat Takeaway is acquiring GrubHub (as in the food delivery biz) for $7.3 billion.