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New York City schools will have no remote option beginning in fall

May. 24, 2021 11:47AM EST
 Dan Ackermann

New York City public schools "will be back in their classroom in September, all in-person, no remote," Mayor Bill de Blasio told MSNBC's "Morning Joe" on Monday.

Why it matters: Some1 million students in the country's largest public school district will return to class for five days a week in the city that was once the epicenter of the pandemic, where de Blasio now says "COVID is plummeting."

Fully in-person, no remote, for NYC in September.

NYC Mayor Bill de Blasio breaks news on @Morning_Joe: "New York City public schools, 1 million kids, will be back in their classroom in September, all in-person, no remote." pic.twitter.com/ujqEJXExFf

— The Recount (@therecount) May 24, 2021

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The hoarding economy: Big businesses and the wealthy lean further into saving

Americans are locking away greater shares of their money — especially big businesses and the wealthy — a trend that has increased thanks to the coronavirus pandemic and is likely to stick around for some time.

Why it matters: The U.S. economy is built on our propensity to spend and the past decade's environment of stubbornly low interest rates, low growth and economic inequality all could be exacerbated in the future as the country leans further into the savings trend.

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What China's uneven economic recovery means for the U.S.

Adapted from Institute of International Finance; Chart: Axios Visuals

China and much of Southeast Asia look to be bouncing back strongly from the coronavirus pandemic as stock markets and much of the country's economic data are returning to pre-pandemic levels.

What's happening: "Our tracking points to a clear V-shaped recovery in China," economists at the Institute of International Finance said in a note to clients Tuesday, predicting the country's second-quarter growth will rise above 2% after its worst quarter on record in Q1.

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