Jun 6, 2019

Republican John James enters Michigan Senate race

Photo: Bill Pugliano/Getty Images

Businessman and combat veteran John James announced Thursday that he will make another Republican Senate bid in Michigan in 2020.

The state of play: James lost his 2018 run to four-term Sen. Debbie Stabenow, but this time around, he'll face Sen. Gary Peters, who is running for re-election for the first time and is the incumbent senator with the least name recognition nationally, according to Morning Consult.

  • James, who President Trump backed in the 2018 GOP primaries, tweeted: "We are heading in the wrong direction as a country and our leaders in Washington are failing to lead us toward a better and brighter future. I believe I can help lead Michigan toward that future we deserve, and that’s why I am running for U.S. Senate."
  • Senate Republicans have been urging James to make another go for the Senate against the wishes of Trump administration officials, who believe that his run could increase Democratic investment in Michigan in 2020, reports Politico.

The big picture: Trump won Michigan in 2016 by less than a percentage point, and his 2020 campaign has been preparing a digital campaign to boost support among key demographic groups — African Americans, Hispanics and suburban women — in swing areas like Detroit, per Axios' Alayna Treene and Jonathan Swan.

Go deeper: These Senate seats are up for election in 2020

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Scoop: Top NSC official reassigned to Energy Department amid "Anonymous" fallout

Photo: Mark Wilson/Getty Images

Deputy national security adviser Victoria Coates will be reassigned as a senior adviser to Energy Secretary Dan Brouillette, the National Security Council said Thursday — and a senior White House official said that the administration "rejects" the rumors that she is "Anonymous."

Why it matters: Coates has battled claims that she is the still-unknown Trump administration official that penned a New York Times op-ed and book critical of President Trump.

The Fed may be setting the table for 2020 rate cuts

Illustration: Sarah Grillo/Axios

The Fed looks to be laying the groundwork to lower U.S. interest rates this year, just as they did in April 2019 before cutting rates in July, September and October.

Why it matters: A Fed rate cut makes taking on debt more attractive for U.S. consumers and businesses, helping to juice the economy, but also puts the central bank in a weaker position to fight off a potential recession.

Morgan Stanley to buy E*Trade in a $13 billion deal

Photo: Rafael Henrique/SOPA Images/LightRocket via Getty Images

Morgan Stanley is planning to buy E*Trade Financial Corp. in a $13 billion all-stock deal, the Wall Street Journal reports, with plans to acquire the company known for helping everyday Americans manage their money.

Why it matters: The deal, which would be the largest by a major American bank since the financial crisis, signals Morgan Stanley‘s desire to bulk up in wealth management.