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Photo: Janek Skarzynski/AFP via Getty Images

Secretary of State Mike Pompeo told me in an interview today that the U.S. will support Israeli annexations in the West Bank, as long as they're consistent with the maps presented in the U.S. peace plan.

Why it matters: Israeli Prime Minister Benjamin Netanyahu said he'd bring plans to annex the Jordan Valley and all settlements in the West Bank before the Cabinet on Sunday. He would not have taken such a dramatic step without U.S. backing.

What he's saying:

“We set markers for the things we thought acceptable, and in exchange [for annexation] Netanyahu is prepared to take lands that are demarcated in our maps and hold those for a future Palestinian state."
— Mike Pompeo

Pompeo said the Trump plan was the best opportunity the Palestinians would have, and he urged Palestinian leaders to reconsider their decision to reject it, or to perhaps present a counter-offer.

Pompeo warned that Trump's plan could be the final offer the Palestinians receive.

“There is a real offer that sits on the table for the Palestinians — all they need to do is to say yes. We are prepared to begin negotiations based on this vision. We can start the process towards their having the state they always wanted."

Pompeo said he was not concerned that a Netanyahu loss in the March 2 election would affect the viability of the plan.

  • He said Netanyahu’s opponent, Benny Gantz, told Trump “the plan is something he will be happy to engage in, and something he thought made sense for Israel, and that can form a basis for negotiations."

Go deeper

Top general: Calls to China were "perfectly within the duties" of job

Gen. Mark Milley. Photo: Andrew Harrer/Bloomberg via Getty Images

Joint Chiefs Chairman Mark Milley told the Associated Press on Friday that calls with his Chinese counterpart during the final months of Donald Trump's presidency were "perfectly within the duties and responsibilities" of his job.

Why it matters: In his first public comments on the calls that have prompted critics to question whether the general went too far, Milley maintained that such conversations are "routine," per AP.

The consumer's massive "war chest"

Illustration: Megan Robinson/Axios

Economists expect the pace of economic growth to cool off now that government transfer payments like stimulus checks and emergency unemployment benefits are in the rearview mirror. But evidence suggests that the U.S. consumer is sitting on a lot of financial firepower that could be a key driver of growth in the quarters to come.

Why it matters: U.S. consumer spending is massive, representing about 70% of GDP.

The Fed takes on its own rules amid stock trading controversy

Photo: Al Drago/Bloomberg via Getty Images

New disclosures that showed Fed officials were active in financial markets set off a firestorm of criticism. Now the Fed may overhaul the long-standing rules that allow those transactions.

Why it matters: What officials actively traded was sensitive to the Fed decisions they helped shape, including the unprecedented support that underpinned a massive financial market boom.

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