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U.S. gymnast Jade Carey wins Olympic gold in floor exercise final

Aug. 02, 2021 11:30AM EST
Dan Ackermann

American gymnast Jade Carey won Olympic gold in the individual floor exercise final on Monday.

The big picture: Italy’s Vanessa Ferrari won silver and Japan's Mai Murakami and Russian Angelina Melnikova tied for bronze.

Driving the news: Carey's first place finish in Tokyo came a day after she took a disappointing stumble during the vault final.

  • She said teammate Simone Biles, who pulled out of the floor final and other events to prioritize her mental health, told her to let the fall go and "move on," per the New York Times.
  • "For tonight, I just had to let that go," Carey said after winning gold.

Worth noting: USA Gymnastics announced Monday that Biles will compete in the individual balance beam final, her last chance to compete at this year's Olympics.

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McConnell says Senate will vote on new small business relief funding before election

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.

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How central banks can save the world

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.

  • That's the message from Eric Lonergan and Megan Greene, two economists who reject the idea that central banks have hit a "lower bound" on interest rates. In fact, they reject the idea that "interest rates" are a singular thing at all, and they fullthroatedly reject the idea — most recently put forward by New York Fed president Bill Dudley — that the Fed is "out of firepower."

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.

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Government officials await Trump's next firing

Via Twitter

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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