Good morning. Welcome to Axios today. It's Monday and the last day of August. I'm Naila Boodoo. Here's how we're making you smarter today. Joe Biden challenges President Trump over violence in Portland. And how you should think about presidential election polls.

First though, the American recession inside a recession is today's one big thing.

In March, President Trump said he believed economic recovery would come quickly after

coronavirus lockdowns led to record unemployment and business closures.

But now economists, even Fed officials, are taking a rare public stance, warning that without another stimulus package

from Congress, we're likely facing a long-term recession that persists even if there is an approved

vaccine.

Dionnera Bowen is the markets editor at Axios.

So obviously the coronavirus pandemic has caused a recession

and GDP in the second quarter was the worst reading that we've ever had.

What you're seeing now is as the coronavirus pandemic has not been fully dealt with,

and that's leading to more layoffs and declining business in

industries that weren't even directly impacted by the pandemic.

So Dion, if people thought we would bounce back after the recession caused by the pandemic, how much longer will it be for recovery now?

A lot of it depends on what happens with the virus and what happens with Congress.

And what happens with Congress.

Right now, Congress is in recess.

The Senate is on vacation.

Former Fed Chair Janet Yellen

wrote a blistering op-ed that was titled, The Senate is on

vacation while American starve. And it really highlights the new activist role

that a lot of economists and members of the Federal Reserve have been playing,

...