Feb 1, 2017

China ties may imperil Scaramucci's White House job

Michel Euler/AP

Anthony Scaramucci's sale, at an attractive valuation, of his hedge fund to a Chinese firm with strong ties to the Communist Party has raised concerns at the Office for Government Ethics. Those concerns have been leveraged by Chief of Staff Reince Priebus to potentially force Scaramucci out of the Trump Administration, according to Politico.

Our thought bubble: Axios' Mike Allen reports that Scaramucci is an ally of Trump's nationalist adviser, Steve Bannon, but Scaramucci is also one of the most well-connected members of the Wall Street establishment who supported Scott Walker and Jeb Bush before throwing in with Trump. He could be a moderating influence on the Bannon wing on issues like trade reform, if he makes it to the West Wing.

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Courtenay Brown

Fed temporarily lifts Wells Fargo's growth restrictions

Photo: Streeter Lecka/Getty Images

The Federal Reserve said Wednesday it will temporarily lift Wells Fargo’s growth restrictions, which were put in place following the bank’s customer abuse scandals.

Why it matters: The Fed’s only reason for lifting the cap is so Wells Fargo can dole out more loans to struggling small businesses as part of the government’s coronavirus aid package. Earlier this week, the bank said it could only lend a total of $10 billion, thanks to Fed restrictions that it can’t grow its assets beyond $1.95 trillion.

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Axios

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

Global: Total confirmed cases as of 12 p.m. ET: 1,450,343 — Total deaths: 83,568 — Total recoveries: 308,617 — Map.
U.S.: Total confirmed cases as of 12 p.m. ET: 399,979 — Total deaths: 12,912 — Total recoveries: 22,539 — Map.
Business updates: Roughly one-third of U.S. apartment renters didn't make April payments.
Federal government latest: The U.S. has begun to see "glimmers of hope" despite its highest recorded number of deaths in 24 hours, Anthony Fauci said.
Public health latest: Surgeon General Jerome Adams highlighted the disproportionate impact the illness is having on African-American communities.
World latest: Indians look to Taiwan amid China's coronavirus missteps
🚌 Public transit: Systems across the country are experiencing ridership collapse, squeezed funding streams and slow recovery from the pandemic.
What should I do? Pets, moving and personal health — Answers about the virus from Axios experts — What to know about social distancing — Q&A: Minimizing your coronavirus risk.
Other resources: CDC on how to avoid the virus, what to do if you get it.

Subscribe to Mike Allen's Axios AM to follow our coronavirus coverage each morning from your inbox.

Keep ReadingUpdated 28 mins ago - Politics & Policy

Axios

Bernie Sanders suspends presidential campaign

Photo: ANDEL NGAN/AFP via Getty Images

Sen. Bernie Sanders announced Wednesday that he is suspending his presidential campaign.

The big picture: It's an end to the campaign of the leading progressive in the race — and the candidate who seemed to be the clear front-runner for the Democratic nomination just a few months ago. It also makes Biden the presumptive Democratic nominee four months before the party's convention in Milwaukee.

Go deeper1 hour ago - Politics & Policy