Apr 7, 2019

Obama worries progressives' rigidity may create "circular firing squad"

Former President Obama says "the way we structure democracy requires you to take into account people who don’t agree with you." Photo: Timothy Hiatt/Getty Images

Former President Obama said Saturday he's concerned about progressives who are unwilling to compromise because it risks weakening "the overall effort and movement."

What he's saying: "One of the things I do worry about sometimes among progressives in the United States ... is a certain kind of rigidity where we say, 'Uh, I'm sorry, this is how it's going to be,' and then we start sometimes creating what's called a circular firing squad, where you start shooting at your allies because one of them is straying from purity on the issues," said at an Obama Foundation town hall event in Berlin, Germany.

The big picture: Obama's comments come at a time where Democrats are shifting to the left on big ideas such as Medicare for All, spearheaded by 2020 hopeful Sen. Bernie Sanders (I-Vt.). Freshman Democrats like Rep. Alexandria Ocasio-Cortez (D-N.Y.) have garnered national attention with progressive policies such as the Green New Deal.

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Scoop: Top NSC official reassigned to Energy Department amid "Anonymous" fallout

Photo: Mark Wilson/Getty Images

Deputy national security adviser Victoria Coates will be reassigned as a senior adviser to Energy Secretary Dan Brouillette, the National Security Council said Thursday — and a senior White House official said that the administration "rejects" the rumors that she is "Anonymous."

Why it matters: Coates has battled claims that she is the still-unknown Trump administration official that penned a New York Times op-ed and book critical of President Trump.

The Fed may be setting the table for 2020 rate cuts

Illustration: Sarah Grillo/Axios

The Fed looks to be laying the groundwork to lower U.S. interest rates this year, just as they did in April 2019 before cutting rates in July, September and October.

Why it matters: A Fed rate cut makes taking on debt more attractive for U.S. consumers and businesses, helping to juice the economy, but also puts the central bank in a weaker position to fight off a potential recession.

Morgan Stanley to buy E*Trade in a $13 billion deal

Photo: Rafael Henrique/SOPA Images/LightRocket via Getty Images

Morgan Stanley is planning to buy E*Trade Financial Corp. in a $13 billion all-stock deal, the Wall Street Journal reports, with plans to acquire the company known for helping everyday Americans manage their money.

Why it matters: The deal, which would be the largest by a major American bank since the financial crisis, signals Morgan Stanley‘s desire to bulk up in wealth management.