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David Bossie, the former deputy campaign manager for President Trump in 2016, told Democratic strategist and fellow Fox News panelist Joel Payne, who is black, that he was "out of [his] cotton-picking mind" during an immigration discussion on "Fox & Friends" this morning.

The response: After a commercial break, Fox News anchor Ed Henry said, "Bossie used a phrase that clearly offended Joel Payne and offended many others. ... But I want to make sure that Fox News and this show, myself, we don’t agree with that particular phrase. It was obviously offensive and these debates get fiery, that’s unfortunate. We like to have honest and spirited debates, but not phrases like that, obviously.”

A tweet previously embedded here has been deleted or was tweeted from an account that has been suspended or deleted.

From Fox News: "David Bossie’s comments today were deeply offensive and wholly inappropriate. His remarks do not reflect the sentiments of FOX News and we do not in any way condone them."

Go deeper

Erica Pandey, author of @Work
53 mins ago - Economy & Business

What's really going on with the labor market

Source: YCharts

The labor market is showing some signs of improvement: Jobless claims fell to 730,000 — a dramatic drop from 841,000 the previous week. And the latest jobs report showed a pandemic-era low unemployment rate of 6.3%

But, but, but: That's not the full story, experts say.

Felix Salmon, author of Capital
1 hour ago - Economy & Business

Markets see rare convergence milestone

Expand chart
Data: YCharts; Chart: Axios Visuals

A milestone was reached in the markets Thursday: The yield on the 10-year Treasury note rose to match the dividend yield on the S&P 500

Why it matters: The two yields have been inverted since the beginning of last year, which is historically unusual.

Mike Allen, author of AM
2 hours ago - Economy & Business

First look: Business puts muscle behind Biden

Business Roundtable, the voice of America's top CEOs, today launched "Move the Needle," a campaign to support President Biden in rolling out COVID vaccines, increasing vaccine uptake and encouraging masks.

What they're saying: "Masks and vaccines are working. Now is the time to keep at it, overcome pandemic fatigue, and double down on the measures that will end this public health and economic crisis, said Business Roundtable president and CEO Josh Bolten.