President Donald Trump’s widely condemned campaign to reverse President-elect Joe Biden’s victory, some opinion writers contend, may be tied to the dark landscape that awaits him come January, when the Republican must leave the legal protection of the presidency. Much of the potential jeopardy (which a self-pardon cannot remove) is in Trump’s former home state of New York, where Attorney General Letitia James continues to gather information about his businesses, obtaining financial records this month from the family of the Trump Organization’s chief financial officer that could provide further insight into the company’s operations and tax strategies. Trump and his various enterprises are also the subject of a criminal investigation by Office of the Manhattan District Attorney Cy Vance. —David E. Rovella

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Here are today’s top stories

Three of the world’s top central bankers warned Thursday that the prospect of a Covid-19 vaccine isn’t enough to stop the economic calamity it created. Stocks fell and Treasuries rallied on Thursday as investors fear new shutdowns and restrictions being ordered in U.S. cities and elsewhere will throttle an already sluggish recovery.

Bloomberg Economics has used a growth accounting framework to forecast potential GDP through 2050 for 39 countries, from the U.S. to Ghana. The data reveal some of the key geographic and political shifts in store for the world economy.

Judy Shelton, a controversial Trump nominee to the Fed who has supported the gold standard, opposed federal deposit insurance and questioned the need for a central bank, may be back on track toward confirmation thanks to Senate Majority Leader Mitch McConnell.

Judy Shelton

The chances of a second coronavirus bailout for America’s hobbled economy became more unlikely Thursday as the Trump administration backed away from negotiations on Capitol Hill.

Top U.S. infectious disease official Anthony Fauci said Covid-19 won’t be a pandemic for “a lot longer” thanks to rapid progress in vaccine development. The coronavirus could nonetheless circulate for years, and for now, it is killing Americans at a catastrophic rate of 1,500 people per day. In Europe, meanwhile, the most recent wave of infections is slowing in some places. Here is the latest on the pandemic and up-to-date news on possible treatments and vaccines.

Dr. Anthony Fauci

Biden has stocked his transition team with policy experts and academics, a contrast with industry-friendly figures and lobbyists Trump installed upon winning office and pledging to “drain the swamp.”

Republicans are trying to illegally scrap 6.75 million votes in Pennsylvania because Trump is “upset” about losing, the Democratic National Committee told a federal judge in one of many unsubstantiated electoral fraud lawsuits being pursued across the country.

What you’ll need to know tomorrow

China is almost done building the biggest free-trade zone on Earth.
Disney jumps as lockdown streaming helps pad its bottom line.
Measles cases reach a 23-year high, killing more than 200,000.
Bloomberg Opinion: Biden makes climate catastrophe less likely.
Writing off student debt is one way Biden can build Black wealth.
Thailand bets on a new kind of rice to feed the whole world.
One-third of the world’s air routes have been lost due to Covid-19.

What you’ll want to read in Bloomberg CityLab

Paris’s 15-Minute City Is the New Urban Utopia

The new trees and cycleways, community facilities and social housing, homes and workplaces in Paris all reflect a potentially transformative vision for urban planners: the 15-minute city. The concept, developed primarily to reduce urban carbon emissions, reimagines towns not as divided into discrete zones for living, working, and entertainment, but as mosaics of neighborhoods in which almost all residents’ needs can be met within 15 minutes of their homes on foot, by bike, or on public transit.

The reconstructed part of Place de la Nation, in Paris on Nov. 7.

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