Sign up for our daily briefing

Make your busy days simpler with the Axios AM and PM newsletters. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to the Axios Closer newsletter for insights into the day’s business news and trends and why they matter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios Pro Rata

Dive into the world of dealmakers across VC, PE and M&A with Axios Pro Rata. Delivered daily to your inbox by Dan Primack and Kia Kokalitcheva.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with the Axios Sports newsletter. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with the Axios Des Moines newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with the Axios Tampa Bay newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Nashville news?

Get a daily digest of the most important stories affecting your hometown with the Axios Nashville newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Columbus news?

Get a daily digest of the most important stories affecting your hometown with the Axios Columbus newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Dallas news?

Get a daily digest of the most important stories affecting your hometown with the Axios Dallas newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Austin news?

Get a daily digest of the most important stories affecting your hometown with the Axios Austin newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Atlanta news?

Get a daily digest of the most important stories affecting your hometown with the Axios Atlanta newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Philadelphia news?

Get a daily digest of the most important stories affecting your hometown with the Axios Philadelphia newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Chicago news?

Get a daily digest of the most important stories affecting your hometown with the Axios Chicago newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios NW Arkansas

Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top DC news?

Get a daily digest of the most important stories affecting your hometown with the Axios DC newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Trump with Schwarzman in 2017. Photo: Chip Somodevilla/Getty Images

It's over. That's what Blackstone chairman, CEO and co-founder Steve Schwarzman — one of President Trump's most loyal allies — and other top Republicans are signaling to the defeated president, 16 days after Joe Biden clinched the win.

Why it matters: It’s all theatrics now. Even if Trump doesn't move on fast, you can. It is safe to ignore the fearful Republicans who insist the process is legit and plausible, because they tell us privately it is not. 

Driving the news: Schwarzman said in a statement to Axios that Biden won and it's time to move on.

  • "I'm a fan of good process," Schwarzman said. "In my comments three days after the election, I was trying to be a voice of reason and express why it's in the national interest to have all Americans believe the election is being resolved correctly. But the outcome is very certain today, and the country should move on."
  • "I supported President Trump and the strong economic path he built. Like many in the business community, I am ready to help President-elect Biden and his team as they confront the significant challenges of rebuilding our post-COVID economy."

Schwarzman's signal is more meaningful in Trumpworld than any of the messages so far from corporate America.

  • Trump's top aides have undisguised contempt for some establishment business groups. But not Schwarzman. He has been a close confidant of Trump's throughout his presidency.

The legal insanity: For more than 24 hours — until it became too much even for Rudy Giuliani to tolerate — the publicly-stated position of President Trump's legal team was that the reason Trump lost Georgia is because Gov. Brian Kemp (R) has been bribed by a Venezuelan front company in cahoots with the CIA to throw elections to Communists.

  • More than that, in the telling by now-former Trump legal adviser Sidney Powell (ditched in a statement by the campaign last night), these dastardly Communists have manipulated American voting machines to switch millions of votes from Trump to Joe Biden.

Yes, that's correct. You didn't read that wrong. We are not pranking you.

  • This is literally what the Trump legal team is arguing. Watch this Newsmax clip and this press conference appearance from Powell.
  • The dangerous reality is that there is a large audience for this conspiracy theory. Far-right commentators attacked Fox' News' Tucker Carlson for daring to suggest that Powell should provide evidence to support her allegation of what would be the biggest crime in American history.

Longtime Trump ally Chris Christie said on ABC's "This Week": "[T]he conduct of the president's legal team has been a national embarrassment."

  • Senior people in Trumpworld agree. A source familiar with the situation said the Trump legal team had been arguing vociferously with each other on phone calls with the president.
  • And Powell hadn’t shown anybody senior in Trumpworld the evidence to support her grand claims of an international communist conspiracy.

Notice that few key campaign and White House officials have been publicly endorsing this legal strategy.

  • Ask yourself: When is the last time you heard from Jared? Or Ivanka? In private, they have long known it was over.

Go deeper

Fed chair says low interest rates aren't driving stock market prices

Jerome Powell. Photo: ANDREW CABALLERO-REYNOLDS / Getty Images

Federal Reserve chairman Jerome Powell told reporters on Wednesday that rock-bottom interest rates aren't playing a role in driving stock prices higher, while noting that vulnerabilities to the financial system are "moderate."

Why it matters: The statement comes amid unshakeable stock prices and a Reddit-fueled market frenzy — prompting widespread fears of a bubble and the role monetary policy has played in that.

Updated 1 hour ago - Politics & Policy

Supreme Court rejects Trump's attempt to shield documents from Jan. 6 committee

Photo: Melissa Sue Gerrits/Getty Images

The Supreme Court rejected on Wednesday night a bid by former President Trump to block the release of documents and records from his administration to the House committee investigating the Jan. 6 riot at the Capitol.

Why it matters: Trump asked the Supreme Court to step in and block the release of the documents last month after a panel on the U.S. Court of Appeals for the D.C. Circuit unanimously denied his attempt to prevent the committee from obtaining the materials.

Senate Republicans block voting rights bill

Senate Minority Leader Mitch McConnell walks to the Senate floor on Jan. 18. Photo: Eric Lee/Bloomberg via Getty Images

Senate Republicans blocked Democrats' voting rights legislation from coming to a final vote on Wednesday in what was largely viewed as a doomed effort from the start.

Why it matters: The failed vote underscores the Democratic Party's current uphill battle to pass sweeping legislation in a 50-50 Senate.

You’ve caught up. Now what?

Sign up for Mike Allen’s daily Axios AM and PM newsletters to get smarter, faster on the news that matters.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!