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Slamet Riyadi / AP

Barack Obama is planning a comeback to the political scene this fall, though his reemergence is causing some consternation amongst his allies and Democratic strategists, according to The Hill's Amie Parnes, who co-authored the Clinton campaign post-mortem Shattered.

  • The plan: Obama is already working behind the scenes fundraising for the Democratic apparatus, but he'll take on a public role this fall campaigning for Virginia gubernatorial candidate Ralph Northam — as well as other candidates who, according to an Obama aide, "[remain] to be seen."
  • The worry: President Trump shaped his political career around antagonizing Obama, so an active role for the former POTUS might help Trump stabilize support with his flagging base.
  • Why it matters: Obama is in a rare position amongst former presidents — relatively scandal-free and popular — so his next political move could have a huge influence with Democrats largely in disarray.

Go deeper

Shooting at Michigan high school leaves 3 dead, 6 wounded

Screengrab: CBSN

Three people dead and six others are wounded after a shooting at a high school in Michigan according to the Oakland County Sheriff's Office.

Driving the news: The alleged shooter was a 15-year-old sophomore at Oxford High School and has been arrested, per police.

Fed signals it could yank economic support quicker as inflation sticks around

Federal Reserve chairman Jerome Powell testifies during a hearing before Senate Banking, Housing and Urban Affairs Committee today. Photo: Alex Wong/Getty Images

The Federal Reserve will consider pulling back economic support sooner "as the threat of persistently high inflation has grown," chair Jerome Powell said during a congressional hearing on Tuesday.

Why it matters: This is the biggest signal yet the Fed is backing away from its stance that soaring prices would be fleeting — a change that could shift its policies that underpin the economy.

Felix Salmon, author of Capital
Updated 3 hours ago - Economy & Business

Crypto meets the real world

Illustration: Megan Robinson/Axios

The two largest countries in the world seem intent on effectively banning their citizens from participating in crypto, which poses a serious threat to the crypto agenda.

Why it matters: The crypto world is global — but the real world is fragmented into nation-states, each of which claims control of what happens within its borders.