Get the latest market trends in your inbox

Stay on top of the latest market trends and economic insights with the Axios Markets newsletter. 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!

Denver news in your inbox

Catch up on 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!

Des Moines news in your inbox

Catch up on the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Minneapolis-St. Paul news in your inbox

Catch up on the most important stories affecting your hometown with Axios Minneapolis-St. Paul

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tampa-St. Petersburg news in your inbox

Catch up on the most important stories affecting your hometown with Axios Tampa-St. Petersburg

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!

Michael Cohen, center, following a meeting with the Senate Intelligence Committee. Photo: Tom Williams/CQ Roll Call via Getty

The FBI raided the office and hotel room of President Trump's personal lawyer, Michael Cohen, on Monday and took records and payments relating to Stormy Daniels' case as well as communications between Trump and Cohen, per the New York Times.

Federal prosecutors in Manhattan reportedly received the search warrant after obtaining a referral from Special Counsel Robert Mueller. The search appears to not be directly linked to Mueller, but it's likely he shared relevant information he had uncovered in his own probe with prosecutors, according to the Times.

“Today the U.S. Attorney’s Office for the Southern District of New York executed a series of search warrants and seized the privileged communications between my client, Michael Cohen, and his clients. I have been advised by federal prosecutors that the New York action is, in part, a referral by the Office of Special Counsel, Robert Mueller.”
— Cohen's lawyer, Stephen Ryan, said Monday

Ryan went on to add that the raid was “inappropriate and unnecessary,” and said Cohen has “cooperated completely with all government entities, including providing thousands of non-privileged documents to Congress and sitting for depositions under oath." He also said the communications between Cohen and Trump are protected under attorney client privilege.

The backdrop: Cohen was drawn into Mueller's Russia investigation last year for his contacts with Russians during Trump's 2016 presidential campaign. He's also been at the center of the Stormy Daniels scandal, and admitted to paying the porn actress $130,000 during the campaign.

Trump's take: The president blasted the raid at a meeting with senior military leadership Monday night, calling it a "disgraceful situation" and an "attack on our country in a true sense ... an attack on what we all stand for."

Update: The Washington Post reports that Cohen "is under federal federal investigation for possible bank fraud, wire fraud and campaign finance violations," citing three people with knowledge of the case.

Go deeper

Scoop: Trump tells confidants he plans to pardon Michael Flynn

Photo: Alex Wroblewski/Getty Images

President Trump has told confidants he plans to pardon his former national security adviser Michael Flynn, who pleaded guilty in December 2017 to lying to the FBI about his Russian contacts, two sources with direct knowledge of the discussions tell Axios.

Behind the scenes: Sources with direct knowledge of the discussions said Flynn will be part of a series of pardons that Trump issues between now and when he leaves office.

Erica Pandey, author of @Work
4 hours ago - World

Remote work shakes up geopolitics

Illustration: Eniola Odetunde/Axios

The global adoption of remote work may leave the rising powers in the East behind.

The big picture: Despite India's and China's economic might, these countries have far fewer remote jobs than the U.S. or Europe. That's affecting the emerging economies' resilience amid the pandemic.

Trump gives Biden access to presidential intelligence briefings

Photo: Mark Makela/Getty Images

The Trump White House on Tuesday gave President-elect Biden access to daily presidential intelligence briefings, a source familiar with the matter tells Axios.

Why it matters: Trump has refused to share the briefs until now, as he continues to challenge the result of the election and declines to concede. The president's acquiescence comes as another sign that the transition to a Biden administration is taking place.