Verify, then trust

U.S. President Joe Biden said he confronted Russian President Vladimir Putin about human-rights violations at their summit in Geneva on Wednesday, including imprisoned opposition leader Alexey Navalny, and warned him against further cyber-attacks on U.S. infrastructure. Biden said he warned Putin that he may respond to any new attacks with cyber volleys of his own (Russia has denied any role in recent ransomware attacks). Biden did say that he saw the possibility of improving relations between the two countries. But unlike the famous phrase adopted by a 20th century predecessor, Biden has said that, when it comes to Putin, verify first, then trust. —David E. Rovella

Bloomberg is tracking the progress of coronavirus vaccines while mapping the pandemic worldwide.

Here are today’s top stories

Fed officials signaled that the pace of the U.S. economic recovery has triggered deliberations about scaling back $120 billion in monthly bond purchases. This after the central bank released forecasts showing two anticipated interest-rate increases by the end of 2023.

As millions of Americans begin the process of returning to the workplace, mental health is at its nadir. But in Europe, where many companies have weathered several bouts of lockdowns and office returns, a blueprint of what to do—and not do—has slowly taken shape. Rather than play trial and error, U.S. organizations might peer across the pond to see what worked.

CureVac shares plunged after a preliminary analysis of a large study found its Covid-19 vaccine was only 47% effective, well short of the high bar set by other messenger RNA shots.

Regeneron Pharmaceuticals’ antibody cocktail reduced the risk of death by 20% among hospitalized Covid-19 patients who don’t have a natural antibody response of their own. Japan’s government decided to lift the state of emergency for Tokyo as the Olympics approach. And in the U.S., Republican-dominated counties with a low percentage of vaccinated people could prolong the pandemic for the whole country. Here’s the latest on the pandemic.

Regulators are worried about hidden risks to investors—and even the financial system—stemming from a fast-growing corner of the crypto market meant to be immune from volatility.

China has stepped up its campaign to rein in commodity prices and reduce speculation in a bid to ease the economic threat posed by soaring raw material costs.

Can a $110 million helmet unlock the secrets of the mind? Bloomberg Businessweek reports on how Bryan Johnson, who made a fortune in online payment processing, has spent a lot of that money building hardware meant to radically expand science’s understanding of the brain’s aging and effects on the body.

What you’ll need to know tomorrow

The Key Influencer of Modern Automotive Design

Car designer Moray Callum remembers unveiling his concept at the Geneva Auto Show: the Aston Martin Lagonda Vignale, a swooping four-door sedan far afield from the James Bond coupes that made the British marque famous. That evening, Callum met Robert Cumberford, a protege of the legendary Harley Earl at General Motors, the man who literally invented modern automotive design. Thrilled to meet the influential Cumberford and familiar with his work, Callum asked his opinion on the Aston. The verdict? “Robert told me it was the ugliest car he had ever seen.”

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