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Good afternoon. Today's PM is 368 words, a ~1.5 minute read.

1 big thing: What ambassadors say about Trump

Kim Darroch in 2017. Photo: Alex Wong/Getty Images

The latest leak-gate has ended with an exit for U.K. ambassador to the U.S. Kim Darroch, who resigned today in the face of public attacks from President Trump.

  • "The current situation is making it impossible for me to carry out my role as I would like," Darroch wrote in his resignation letter.

Why it matters: "Until Mr. Darroch’s confidential cables appeared in the Daily Mail last weekend, none of the major ambassadors in Washington had been denounced by President Trump as 'wacky' and a 'very stupid guy,'" the N.Y. Times' David Sanger notes.

  • "But as one ambassador, who is still serving and therefore spoke on the condition of anonymity, said on Wednesday, 'it could have been any of us.'"

The big picture: Darroch's less than glowing leaked messages match what other ambassadors are sending home about the Trump administration, Sanger reports.

  • Former French ambassador Gérard Araud: "I knew that nothing would remain secret, so I sent them in a most confidential manner.”
  • More from Araud: "It’s what happens when a populist leader takes command in a liberal democracy. These people don’t recognize or accept the idea that an ambassador or a bureaucrat could be of any use. They only want to deal with other leaders.”

The bottom line: "There will be a new British ambassador ... But under current conditions it is unclear whether that diplomat’s access will be much better."

  • Or as Axios' Dave Lawler emails: It’s not easy to be an ally in Trump’s Washington.
Bonus: Quote du jour

Context: Pelosi was warning fellow Democrats to be nice to their own side on Twitter.

2. What you missed
  1. Fed chair Jerome Powell sent a strong signal for a rate cut this month. Go deeper.
  2. The 4th Circuit Court of Appeals ruled in favor of Trump on emoluments. Go deeper.
  3. Immigrants are seizing opportunities in the midwest and south where mid-sized cities are struggling to maintain a younger, working-age population. Chart.
  4. 🎧Investigative reporter Vicky Ward, who wrote the first magazine profile of Jeffrey Epstein back in 2003, joins Axios' Dan Primack on the Pro Rata podcast. Listen here.
  5. House Oversight chair Elijah Cummings wants Alexander Acosta to testify regarding his role in registered sex offender Jeffrey Epstein's 2008 plea deal.
1 fun thing: We're #1
Photo: Johannes Eisele/AFP/Getty Images

Above: USA women's soccer player Megan Rapinoe kisses the trophy in front of the City Hall after the ticker tape parade. (Highlights from her speech.)

Below: More members from the team celebrate their status as back-to-back world champs.

Photo: Johannes Eisele/AFP/Getty Images