Top corporate leaders' boost of economic exuberance that followed the November elections has receded, Axios' Neil Irwin writes from a new survey of major company CEOs.

Why it matters: The data from the Business Roundtable, obtained exclusively by Axios, is the latest sign that a volatile policy environment is dampening the outlook in corporate America.

• And these survey results were mostly collected before last week's on-then-off tariffs and ensuing stock market volatility. A front-page story in today's Wall Street Journal: "Hard-Landing Fears Grow on Wall Street."

President Trump traveled to The Wharf in D.C. yesterday to meet with Business Roundtable members, the CEOs of America's largest companies. BRT chair Chuck Robbins, chair and CEO of Cisco, said it was "the largest attendance that we've ever had at a Business Roundtable meeting."

• Trump said to laughter: "I have a lot of friends in the audience — a couple that I don't like particularly much. For the most part, very good." (8-min. video)

🧮 By the numbers: The group's economic outlook index fell 7 points from its December release. At 84, the level is now about the same as it was in the first half of last year and in line with its historical average, implying steady overall growth ahead.

• The survey results dipped most for hiring expectations, with that sub-index falling 13 points to 54 — barely in expansion mode.
• The CEOs expect 2.5% GDP growth this year — in line with results over the last few years.

💡 "The modest dip," said BRT CEO Joshua Bolten, "is tied to several factors, including signs of economic headwinds and an atmosphere of uncertainty in Washington."

• Bolten added that the Trump administration "can help turn the tide" by moving quickly on extending 2017 tax reforms, scaling back regulations, reforming permitting, and "avoiding the use of overly broad, long-lasting tariffs."
• Robbins, the BRT chair, said: "The survey results signal that our members are cautious about the next six months, but also see opportunities to improve growth."

The bottom line: Before the latest wave of volatility and emergence of recession fears, America's most important corporate decision-makers were becoming more wary of the growth outlook.

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Antisemitic conspiracy theories are flooding America's most popular pro-Trump podcasts, exposing deep political and moral fissures at the heart of the new MAGA coalition, Axios' Zachary Basu writes.

• Why it matters: At a moment of record-high antisemitism in the U.S., an astonishing split screen has emerged between the Trump administration and prominent influencers that reliably spread MAGA's message.

President Trump has prioritized cracking down on antisemitism and criticism of Israel on college campuses, including by revoking federal funding and arresting pro-Palestinian activists.

• But many of the podcasts Trump appeared on during the campaign are simultaneously platforming far-right provocateurs who are openly hostile toward Israel and use racist tropes about Jewish influence.

🔎 Zoom in: Conspiracy theories about Israel, Jeffrey Epstein and Jewish elites dominated four MAGA-friendly podcasts last week that had previously hosted Trump. All came out within the same 48-hour period.

• Candace Owens, a pro-Trump lightning rod who left The Daily Wire last year over her embrace of antisemitic rhetoric, was a guest on "This Past Weekend with Theo Von."
• Andrew Tate, the misogynist influencer accused of sex trafficking and rape in Romania, appeared on the Nelk Boys' "Full Send" podcast and Patrick Bet David's "PBD Podcast." He also attended UFC 313 in Las Vegas, where he was welcomed by UFC president and Trump ally Dana White.
• Ian Carroll, an independent researcher who has suggested Israel was involved in 9/11, spent nearly three hours on the biggest platform of all — "The Joe Rogan Experience."

Between the lines: Together, the conversations were broadcast to tens of millions of listeners on Spotify, YouTube and other platforms.

• Alternative media and "manosphere" influencers helped fuel Trump's election by bringing millions of politically disengaged Americans — especially young men — off the sidelines.
• For many young Americans, their political awakening is coinciding with the stunning normalization of online antisemitic hate.

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The Education Department announced last night that it's slashing more than 1,300 jobs — a move reflecting President Trump's promise to dismantle the agency, Axios' Sareen Habeshian writes.

• Why it matters: The layoffs — which come on top of voluntary buyouts and the termination of probationary employees — leave the agency with about half the workers it started the year with.

"Reduction in Force" notices started to go out to impacted employees at 6 p.m. ET Tuesday, according to a source familiar with the matter.

• Those staff members will be placed on administrative leave beginning March 21, the department said.

👓 Between the lines: Education Secretary Linda McMahon told Fox News' Laura Ingraham it's the first step in Trump's plan to shut down the agency.

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President Trump committed to buying a bright red Tesla Model S (pictured above) that he picked out after reviewing the automaker's lineup with Elon Musk on the South Lawn yesterday.

• Trump, who briefly got into the front seat of a red sedan with Musk, told reporters he would write a check for the vehicle.

"It's a great product," he said. "We have to celebrate [Musk]."

⚡ Musk told the White House he plans to give $100 million to Trump's political operation, Axios' Alex Isenstadt reports.

• Why it matters: Musk "is now showing a willingness to also fund some groups he doesn't directly control," write the N.Y. Times' Teddy Schleifer and Maggie Haberman, who first reported the plan (gift link).

The contribution is unheard of in both amount and type: Musk, technically a special government employee, is the world's richest person.

• Musk donated more than $250 million to a pro-Trump super PAC during the 2024 election campaign.

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Don Jr. is endorsing Rep. Byron Donalds for Florida governor, following in his father's footsteps and cementing Donalds as the frontrunner over possible contender Casey DeSantis — the state's first lady, Axios' Marc Caputo writes.

• Why it matters: The move by Trump Jr. — a key player in MAGA media — comes after a presidential race in which Donalds was a constant pro-Trump presence on the campaign trail.

Florida's 2026 race is loaded with potential intrigue. It's likely to be a show of the Trump machine's power in Florida. DeSantis' husband, Ron, is term-limited as governor.

🔬 Zoom in: Trump Jr., 47, hosts an influential podcast, "Triggered," a GenX pillar of MAGA's media universe. He's a trusted political adviser to his dad.

• President Trump pre-endorsed Donalds five days before the congressman's Feb. 25 announcement on Sean Hannity's show on Fox News.
• Donalds' campaign is run by Trump campaign vets: Tony Fabrizio (pollster for both Trump and Donalds), senior adviser Chris LaCivita (2024 Trump campaign co-manager) and Danielle Alvarez (senior adviser for both campaigns).

⛳ Trump calls DeSantis for advice on occasion and likes golfing with the governor.

• To try to keep Trump on the sidelines in the governor's race, Ron and Casey DeSantis golfed with Trump two weekends ago at the president's West Palm Beach course.

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As Elon Musk's slash-and-burn budget cuts hit Republican and Democratic areas alike, some GOP lawmakers are privately back-channeling with the Trump administration to try to shield their constituents from the fallout, Axios' Erin Doherty and Andrew Solender write.

• Why it matters: Republicans have largely cheered on DOGE in public. But behind the scenes, many of President Trump's allies fear potential political backlash to the cuts — and are scrambling to limit the damage.

Of the 60 congressional districts with the most federal workers, a slight majority are represented by Republicans.

👂 What we're hearing: Several House Republicans told Axios they have succeeded in — or at least contributed to — getting DOGE to reverse certain cuts through private back-channeling.

• Rep. Cliff Bentz (R-Ore.) said he raised concerns about job cuts at the Bonneville Power Administration: "Whether it was my remarks back to DOGE or somebody else's, it got fixed. They ... hired back 30 people."

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John Roese, Dell's global chief technology officer and chief AI officer, told Axios during a Washington visit yesterday that the federal government's AI adoption is poised to speed up in part because of success cases in business.

• Why it matters: "Nobody in the government wants to be the bleeding-edge, first adopter of a technology — that's pretty risky," he said.

Roese said his message to D.C. is: "Come on in — you're not the first to move. It's early, but you don't have to figure this out by yourself. I can show you with confidence this is actually achievable. How you do it will probably be a bit different; your data will be different."

🖼️ The big picture: Michael Dell, the company's chairman and CEO, told Bruce Mehlman during an event yesterday at the National Press Club that shunning AI tools soon will be like having a phone without WiFi.

🔮 Looking ahead to agentic AI, Roese told us: "Imagine a world where ... the agent that manages your finances talks to the agent at the IRS and your taxes just happen continuously."

• "The level of efficiency goes up, the effectiveness goes up, the actual outcomes improve, and the friction of humans having to interact with bad processes and complex environments just disappears. ... Compliance probably goes up, too."

🔎 Behind the scenes: Roese said Dell decided it needs to be "Customer Zero," since there's no playbook for transforming an organization using generative AI.

• "The only way that we would be able to properly inform the strategy and have any credibility with customers who are also on this journey [was] to be a first and visible aggressive adopter of the technology," he said.

Roese, who holds about 30 patents, said he has "never met a problem that wasn't interesting and worth solving." He said the Dell approach is: "Do it fast; fail forward faster; have a high-risk profile."

• "I go into a meeting, I don't even have to tell people, anymore. If we're debating something, they all realize: If we don't make the decision this week, John's going to make the decision. So we get moving, because we don't have time to waste."

Go deeper: Read Dell's new 7-page paper, "A Blueprint for U.S. AI Global Leadership."

Tiger Woods had surgery for a ruptured Achilles tendon that'll keep him out of the Masters next month, and leaves in question whether he can play in any other major championship the rest of the year.

• He said he had a minimally invasive Achilles tendon repair for a ruptured tendon that the doctor said went smoothly.

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