Incoming House Speaker Nancy Pelosi. Photo: Tom Williams/CQ Roll Call via Getty Images

In an interview to air on NBC's "Today," co-anchor Savannah Guthrie asks Nancy Pelosi, who will become House speaker at around 1:30 pm Thursday: "Do you believe the special counsel should honor and observe the Department of Justice guidance that states a sitting president cannot be indicted?"

The big picture: Pelosi replied, according to an excerpt from NBC: "I do not think that that is conclusive. No, I do not." With that response, she becomes the highest ranking official to suggest President Trump could be indicted while in office.

Pelosi is ready to rumble, planning to maintain the unyielding posture she took with Trump in their Oval Office standoff before the shutdown.

  • She tells USA Today that Trump is now entering a "different world."

House Democrats plan to be aggressive on both an investigations/oversight track and a legislative track, writes Chris Krueger of Cowen Washington Research Group:

  • "The Democratic majority is largely due to Democrats in Trump-won districts from 2016, so expect a lot of legislation with high approval ratings first in the queue: infrastructure, drug pricing, immigration reform (protections for DREAMers), shoring up the ObamaCare exchanges/protecting pre-existing conditions, gun control, voting rights."

Excerpts from remarks Pelosi will make when she takes the gavel during the opening session of the 116th Congress (opens at noon, with the speaker vote — which will take about an hour — starting around 12:15 pm):

  • "When our new members take the oath, our Congress will be refreshed, and our democracy will be strengthened by the optimism, idealism and patriotism of this transformative freshman class."
  • "We must be pioneers of the future. This Congress must accelerate a future that advances America’s preeminence in the world, and opens up opportunities for all."

"[We] will call upon the bold thinking needed to address the disparity of income in America, which is at the root of the crisis of confidence felt by so many Americans."

  • "We must also face the existential threat of our time: the climate crisis."
  • "I pledge that this Congress will be transparent, bipartisan and unifying."
  • "[T]he floor of this House must be America’s Town Hall: where the people will see our debates, and where their voices will be heard and affect our decisions."

Go deeper: Trump v. Pelosi showdown will define 2019 and 2020

Go deeper

Lawmakers demand answers from World Bank on Xinjiang loan

Illustration: Sarah Grillo/Axios

U.S. lawmakers are demanding answers from the World Bank about its continued operation of a $50 million loan program in Xinjiang, following Axios reporting on the loans.

Why it matters: The Chinese government is currently waging a campaign of cultural and demographic genocide against ethnic minorities in Xinjiang, in northwest China. The lawmakers contend that the recipients of the loans may be complicit in that repression.

Obama: Americans could be "collateral damage" in Trump's war on mail-in voting

Photo: Zahim Mohd/NurPhoto via Getty Images

Former President Barack Obama tweeted Friday that everyday Americans could become "collateral damage" if President Trump continues to attempt to slash funding for the U.S. Postal Service as part of his campaign against mail-in voting.

Why it matters: Trump linked his baseless claims that increased mail-in voting will lead to widespread voter fraud on Thursday to the current impasse in coronavirus stimulus negotiations.

Elon Musk is channeling Henry Ford in auto manufacturing

Photo illustration: Annelise Capossela/Axios. Photo: Zhang Peng/LightRocket via Getty Images

Tesla CEO Elon Musk, who has spent more than a decade trying to disrupt the traditional auto industry, is sounding more and more like the man most closely associated with it: Henry Ford.

Why it matters: In his quest to build affordable electric cars for the masses, Musk is starting to embrace many of the ideas pioneered by Ford's founder — things like vertical supply chains and an obsession with manufacturing efficiency. A century ago that approach helped to popularize the American automobile by lowering the cost of the Model T.