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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

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Go deeper

Hope King, author of Closer
Updated 2 hours ago - Economy & Business

Peloton pumps its brakes

Data: FactSet; Chart: Axios Visuals

Peloton’s popularity is falling as swiftly as it shot up.

Why it matters: Not all pandemic habits stick around. Peloton's trajectory over the past two years exemplifies how challenging it's been for companies to gauge shifts in consumer demand — particularly in sectors heavily altered by the pandemic.

Mitch McConnell's remarks on Black voters raise ire

Senate Minority Leader Mitch McConnell during a Capitol Hill news conference earlier this year. Photo: Anna Moneymaker/Getty Images

Senate Minority Leader Mitch McConnell (R-Ky.) has been widely criticized for comments he made this week about Black American voters.

Driving the news: When asked by a reporter Wednesday about concerns among voters of color, McConnell said "the concern is misplaced, because if you look at the statistics, Black American voters are voting in just as high a percentage as Americans."

Updated 3 hours ago - Politics & Policy

Scoop: Trump’s friends worry legal pick for N.Y. case lacks experience

Photo illustration: Sarah Grillo/Axios. Photo: Brandon Bell/Getty Images

Close associates and advisers to Donald Trump tell Axios they're concerned by his decision to use a relatively inexperienced New Jersey attorney, Alina Habba, in his high-stakes legal fight against New York Attorney General Letitia James.

Why it matters: A former president typically has access to the country's most prestigious experts, including lawyers. Trump has turned to the former general counsel for a parking garage company, who works from a small law office near his Bedminster, N.J., country club.