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Nancy Pelosi. Photo: Chip Somodevilla/Getty Images

Speaker Nancy Pelosi's formal impeachment announcement on Thursday was addressed squarely at skittish members within her caucus.

Why it matters: President Trump wants as many Democratic "no" votes on the board when the inevitable vote to impeach comes, so Republicans are trying to scare House Democrats from red and swing districts.

The big picture: This is a chance for Pelosi to shape the conversation.

  • Until now, mostly House Intel Chair Schiff — followed by House Judiciary Chair Jerry Nadler — has dominated the stage, and soon it will be in the Senate's hands.
  • Coming tonight: Pelosi has a CNN town hall at 9 p.m. ET.

Between the lines: In her formal statement, Pelosi used simple declarative sentences to convey the idea there is no alternative:

  • "The facts are uncontested.”
  • "Our democracy is what is at stake.”
  • "The president leaves us no choice but to act because he is trying to corrupt, once again, the election for his own benefit.”

She was a bit more colorful in the press conference that followed:

  • Pelosi's reply to a reporter trying to bait her into saying she hates Trump: “Don’t mess with me.”

The bottom line: In both cases, Pelosi was clear. For Democrats, she's the boss.

Go deeper:

Go deeper

Exclusive: White House meeting with members of Problem Solvers Caucus

Members of the Problem Solvers Caucus discuss the COVID-19 relief bill in December. Photo: Oliver Contreras/Bloomberg via Getty Images

Top White House officials will meet Wednesday with a bipartisan coalition of House lawmakers as the administration tries to enlist moderates to support the president's infrastructure proposal.

Why it matters: The meeting is something of an olive branch after President Biden's team courted groups of progressives to back the $2.2 trillion package.

57 mins ago - Health

The new vaccine threat is fear itself

Illustration: Sarah Grillo/Axios

The FDA’s decision to pause the use of Johnson & Johnson's coronavirus vaccine has set off a chain reaction of fear — about the safety of the vaccine, and about whether the FDA is overreacting — that's causing unnecessary drama just as the vaccine effort is finally picking up speed.

The big picture: Throughout the pandemic, the public and the media, and sometimes even regulators, have struggled to keep risks in perspective — to acknowledge them without exaggerating them, and to avoid downplaying them because other people will exaggerate them.

Cryptocurrency giant Coinbase heads to Wall Street

Illustration: Annelise Capossela/Axios

Coinbase, the country's largest cryptocurrency exchange, is expected to go public today at what could be a valuation north of $100 billion.

Why it matters: This gives crypto a Wall Street seal of legitimacy, after an early existence marred by ties to illicit goods.