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Illustration: Sarah Grillo/Axios. Animation: Nathan Goodell/The Strangeworks

This is a new "Axios on HBO" column on the reality behind the curtain of the powerful, by Jim VandeHei and Mike Allen.

Joe Biden confidants are privately discussing potential leaders and Cabinet members for his White House, including the need to name a woman or African American — perhaps both — as vice president, top sources tell "Axios on HBO." 

Why it matters: Biden advisers describe a Return to Normal plan — a reversal of President Trump's unorthodox, improvisational style. Biden wants known, trusted people around him — many from the Obama years.

Several high-profile possibilities:

  • John Kerry would love to take a new Cabinet position devoted to climate change, or might even accept a curtain call to return as secretary of state.
  • Susan Rice, formerly President Obama's national security adviser, is another option for State.
  • Mike Bloomberg, who swiftly endorsed Biden after the former mayor's campaign collapsed, would be a top possibility to head the World Bank.
  • Sally Yates, the deputy attorney general under Obama who stood up to Trump and was fired, would be a leading contender for attorney general.
  • Sen. Elizabeth Warren as Treasury secretary could help unite the party.
  • Jamie Dimon — chairman and CEO of JPMorgan Chase, and mentioned over the years as a potential presidential candidate — would also be considered for Treasury.
  • Anne Finucane, vice chairman of Bank of America, is another possibility for Treasury.

Biden advisers expect Pete Buttigieg to get a prominent slot after his swift endorsement of Biden — perhaps as ambassador to the UN, or as U.S. trade representative.

  • Both would help credential Buttigieg for a future national campaign.

Behind the curtain: Campaign officials say the name game isn't where Biden's head is — he knows he has major primary and general-election fights ahead.

  • Officials point out they don't yet have a transition — and haven't run a process that would surface new talent, like Dr. Steven Chu, the Nobel Prize physicist who was Obama's first secretary of energy.

But it's a sign of the sudden optimism around his candidacy that some in his circle of trust are starting to think down the road, starting with the V.P. pick:

  • Some Biden advisers hope he could overcome hard feelings from the Obama years and pick Warren for V.P. to excite party progressives.
  • Also high on the list of potential Biden picks for #2 are several African Americans: Sen. Kamala Harris (first on many lists) and Sen. Cory Booker, both of whom ended their nomination fights before the voting began ... former Massachusetts Gov. Deval Patrick, who ended his presidential campaign after New Hampshire ... and former Georgia gubernatorial candidate Stacey Abrams, who electrifies crowds.
  • Sen. Amy Klobuchar is in the mix, too. 

Others who could bring diversity and relative youth to the ticket include Sen. Tammy Duckworth of Illinois and Rep. Val Demings of Florida, who got high marks as a House impeachment manager.

  • One adviser told us when we asked who the V.P. pick would be: "Whoever Jim Clyburn wants it to be."
  • Indeed, Biden feels Clyburn — the South Carolinian who is the highest ranking African American in Congress — helped raise him from the dead with his endorsement. Black voters on Super Tuesday sealed Biden's political salvation. 

Another swath of likely picks are comfort food — longtime loyalists who are integral to the campaign:

  • Tom Donilon, national security adviser under Obama, would be considered for CIA director, director of national intelligence, or secretary of state.
  • Tony Blinken, deputy secretary of state and deputy national security adviser under Obama, could go to State or become national security adviser.
  • The chief of staff would likely be Ron Klain, who held that job for him when he was veep.
  • Steve Ricchetti could be counselor, along with Mike Donilon, Biden's longtime political guru.
  • Anita Dunn, who helped turn around the campaign and bring in more money, also might go inside.
  • Ditto Ambassador Cathy Russell, a top State Department official for Obama who earlier was chief of staff to Dr. Jill Biden.
  • Ted Kaufman, former senator from Delaware, has been in Biden's inner circle forever. Sen. Chris Coons of Delaware also might get a big job.

The sources see Harris as a promising choice for attorney general if she's not on the ticket.

  • Michèle Flournoy, an Obama undersecretary of defense, would be the favorite to run Biden's Pentagon.
  • Morgan Stanley exec Tom Nides could get secretary of commerce, trade rep or some other top post.

The bottom line: Biden, a throw-back institutionalist, relishes an emphasis on governing, norms and restoring alliances. 

  • That includes respect for experts, and for the art and science of governing.
  • This evolving plan is all in Biden's comfort zone — all meant to send a public signal of stability.
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Go deeper

2021 economy boomed at fastest rate in 37 years

Source: Bureau of Economic Analysis

The U.S. economy surged ahead with a 6.9% annual growth rate in the final months of 2021 and achieved the strongest growth over an entire calendar year since 1984.

Driving the news: New GDP numbers from the Commerce Department show a remarkable acceleration in economic activity, much faster than the 5.3% growth rate analysts expected.

The Fed isn't the only problem investors are worried about

Illustration: Aïda Amer/Axios

The Federal Reserve will be raising rates, just as the economy is slowing. The markets hate that.

Why it matters: The ugly start to the stock trading year doesn't just reflect Fed-induced agita — investors are also worried about a growth slowdown.

3 hours ago - Health

White House says Obamacare sign-ups hit record

Health and Human Services Secretary Xavier Becerra speaking in the White House in December 2021. Photo: Jim Watson/AFP via Getty Images

The White House said Thursday that a record 14.5 million Americans have signed up for health insurance through Obamacare marketplaces since Nov. 1, including more than 10 million enrollments through HealthCare.gov.

Why it matters: Last year's stimulus bill contained substantial investments in the program, including increased subsidies for people who don't receive health insurance from an employer or through Medicare or Medicaid.