The consensus among economists is that the U.S. recovery will most likely be something in between a V and a W — a sharp drop, a relatively small bounce back, and then a long period of slow growth.

• Time to pay attention again: The coronavirus surge is real, and it’s everywhere in the United States.
• And Axios co-founder Mike Allen tells us what to expect at the virtual Democratic National Convention in Milwaukee.

Guests: Axios’ Felix Salmon, Sam Baker, and Mike Allen.