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Federal Reserve Chairman Jerome Powell, who testified along with U.S. Treasury Secretary Steven Mnuchin at a virtual hearing of the Senate Banking Committee on Tuesday, sought to maintain neutrality in the debate over whether Congress should commit to further bailout funding. Powell reiterated his stance that more fiscal aid may be needed (pleasing Democrats who have pushed a new $3 trillion bill through the House) but stopped short of a full-throated endorsement (pleasing Republicans who are urging a slower approach). The prospect of a quick rebound in employment is becoming increasingly unlikely, with tens of millions jobless and no proven, reliable treatment or vaccine for Covid-19 available to support American confidence in returning to work and school. —Josh Petri

Bloomberg is mapping the pandemic globally and across America. For the latest news, sign up for our Covid-19 podcast and daily newsletter.

Here are today’s top stories

Former Vice President Joe Biden’s campaign is asking some potential running mates to submit references, as the presumptive Democratic presidential nominee’s team begins the formal vetting process. Though it remains unclear who the campaign is looking at, Senator Elizabeth Warren’s path forward is easier than it looks.

The Massachusetts Democrat and financial industry expert is calling for the prosecution of corporate executives who take bailout money from a massive Federal Reserve program intended to bolster credit markets, but fail to meet all the certification requirements.

As the global death toll from the pandemic climbs, employers are scrambling to address explosive rates of anxiety, depression, substance abuse and a potential wave of suicides. Like the virus itself, this secondary epidemic is expected to affect far more people than the existing healthcare system can address, leaving employers to pick up the slack.

As Brazil solidifies its status as the world’s new coronavirus hotspot, accounting for 13% of new cases globally in the past week, the nation’s woeful response is fueling concern that the worst is yet to come. There’s no health minister after two officials who occupied that post left following clashes with President Jair Bolsonaro, who has rejected efforts to slow the disease’s spread. Only about 800 of the 15,000 ventilators bought by the federal government have been distributed due to problems with logistics. Here’s the latest on the global pandemic.

In the U.S., New York Governor Andrew Cuomo said the Albany area is ready to begin reopening and Long Island is making “great progress” toward ending its lockdown, as statewide hospitalizations, intubations and new admissions and deaths for Covid-19 continue to decline. In Hawaii, however, Governor David Ige continues to enforce strict measures: Roughly 20 people have been arrested for violating the two-week quarantine imposed on all who arrive or travel between the state’s islands.

Global carbon dioxide emissions were 17% lower compared with the same time last year. To an optimist, the numbers show it is indeed possible to reduce emissions. To a pessimist, the fact such a catastrophic sequence of events was needed to do so, and that it only cut emissions to levels seen 14 years ago, shows the limits to meeting pollution goals.

Still, there’s good news for big real estate investors. They’re sitting on piles of cash, preparing for once-in-a-lifetime opportunities created by the pandemic. With economies around the world sputtering, commercial real estate prices are expected to fall. How much is the key question.

What you’ll need to know tomorrow

What you’ll want to read in Bloomberg Green

The Battle to Build The Biggest Wind Turbine

Don’t let anyone tell you otherwise: Size matters when it comes to the rapidly growing market for green power. Siemens Gamesa Renewable Energy, the Spanish wind-turbine manufacturer, is set to build what will be the world’s biggest windmill. The 14-megawatt machine with a rotor diameter of 222 meters (728 feet) will be just two meters bigger than General Electric’s own massive turbine.

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