The Justice Department filed a 63-page antitrust lawsuit against Google related to the tech giant's search and advertising business. This comes just weeks after the House subcommittee on antitrust issued its own scathing report on Google and other Big Tech companies, arguing they've become digital monopolies.
Axios Re:Cap talks with Rep. David Cicilline (D-R.I.), chair of the subcommittee on antitrust, about Google, the DOJ's lawsuit and Congress' next move.
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Senate Majority Leader Mitch McConnell (R-Ky.) issued a statement on Tuesday saying that the Senate's "first order of business" when it returns on Oct. 19 will be to vote on "targeted relief for American workers," including new funding for the small business Paycheck Protection Program (PPP).
Why it matters: House Democrats, Senate Republicans and the Trump administration are still very far apart on key elements of a relief deal, and any push for smaller, more targeted legislation is more of a political maneuver than any thing else.
The trillion-dollar gap between actual GDP and potential GDP is a gap made up of misery, unemployment, and unfulfilled promise. It's also a gap that can be eradicated — if central banks embrace unconventional monetary policy.
Why it matters: If Lonergan and Greene are right, then central banks have effectively unlimited ammunition in their fight to increase inflation and employment. They are limited only by political will.
President Trump was enraged by a Wall Street Journal scoop that Attorney General Bill Barr worked "for months" during the campaign to conceal the federal investigation of Hunter Biden.
The state of play: The president is re-exploring options for replacing Barr, and Saturday morning tweeted this rebuke: "Why didn’t Bill Barr reveal the truth to the public, before the Election, about Hunter Biden[?]"
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