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UAW to resurrect 'Buy American' campaign: That's according to the Detroit Free Press, which quotes UAW leader Dennis Williams saying "No company … can survive without the market of the United States of America," and that it's time Americans started using that power to say "enough is enough." But the problem of identifying what is exactly "American" hasn't gotten any easier since the 1980s during the campaign's heyday. Foreign automakers build much of what they sell in the U.S. here, while American firms are often using Mexican labor for part of their supply chains.

The great American debt machine: CNNMoney published the eye-grabbing headline, "Household debt is dangerously close to 2008 levels," based on New York Fed data showing that consumer debt climbed by $460 billion in 2016, the largest jump in close to a decade. But the debt profile of American consumers is much different today than in 2008, while the income and assets we're holding as collateral have changed too. Mortgage debt increased by 2.8% last year, but that's actually a slower pace than the growth in overall home values, and roughly in line with income growth.

The real drivers of debt of late have been auto and student debt. Though 11.9% of student loans are either delinquent or more than 90 days late, that figure has not been rising in recent months, so no alarms just yet.

Who will run Trump's Fed? Obama-era gridlock has left President Trump the chance to reshape the central bank. There are two open seats on the seven-member board, which serves staggered 14-year terms. Janet Yellen and Vice-chair Stanley Fischer's terms are up at the end of next year. Deustche Bank names four possible choices for the Trump Fed, including monetary hawks John Taylor and John Cochrane. These two would be no-brainers for another Republican, but as Trump has abandoned the strong-dollar policy, it's difficult to see how he could justify choosing these avid interest-rate hikers.

Go deeper

UNC race conscious admissions process upheld by judge

Students walk through the campus of the University of North Carolina at Chapel Hill on Aug. 18, 2020 in Chapel Hill, North Carolina. Photo: Melissa Sue Gerrits/Getty Images

The University of North Carolina at Chapel Hill can continue its race conscious admissions process, a federal judge ruled on Monday.

Why it matters: The case could end up in the Supreme Court after the conservative nonprofit Students for Fair Admissions (SFFA) vowed to appeal the judge's ruling that UNC didn't discriminate against against white and Asian American applicants in its policy that it said was designed to increase diversity.

SEC debunks conspiracy theories about meme stock mania

Photo: Alessia Pierdomenico/Bloomberg via Getty Images

The SEC issued its long-awaited report on the meme stock mania, which downplayed the narrative that a "short squeeze" was the primary driver behind GameStop's historic stock moves — and shot down conspiracy theories about the event.

Why it matters: The postmortem was highly anticipated, largely because of what it could hint about what the regulator thinks should be done in wake of the saga. But the report stopped short of specific policy recommendations.

3 hours ago - Politics & Policy

Breaking Biden's diplomatic logjam

Expand chart
Data: Center for Presidential Transition via Congress.gov; Chart: Will Chase/Axios

The logjam for reviewing and confirming President Biden's ambassadorial picks is finally starting to break.

Why it matters: Biden is far behind his predecessors in the rate at which his ambassadorial picks have been confirmed. The Senate Foreign Relations Committee will hold a series of high-profile hearings and votes this week to finally begin chipping away at the backlog.