Axios

President-elect Trump will again have the ability to pardon from the White House — one of the strongest powers of the presidency.

Why it matters: Trump, who is slated to be the first felon in the White House, likely won't be tried for his own role in Jan. 6, but he's vowed to pardon the hundreds charged for their involvement.

Voters in seven states approved ballot measures to expand abortion access, while some of them simultaneously backed President-elect Trump and Republicans who could help instate a federal ban come next year.

The big picture: The president-elect, who has repeatedly taken credit for overturning federal abortion protections, has flip-flopped on the issue but insisted he would not sign a national ban into law.

President-elect Trump won the U.S. presidential election in significant part due to voter dissatisfaction with the economy, including the legacy of high inflation. The question ahead is whether his policies will create a happier economic balance for Americans.

Why it matters: If Trump's campaign promises become reality, it would mean less immigration, high tariffs and tense trade relationships, lower taxes, and bigger fiscal deficits.

President-elect Trump and President Biden will meet on Wednesday at the Oval Office in keeping with the president's promise of a peaceful transition of power.

Why it matters: The presidential transition period is vital for the incoming administration as it builds its team and starts to vet thousands of applications, Axios earlier reported.

President-elect Trump is taking a very different approach to staffing his second administration:

• He's putting a premium (so far) on picking people who are both experienced and MAGA loyalists, transition insiders tell us.

Why it matters: In Trump's first term, many of the top players were either experts or true believers — but rarely both.

• The result was a dysfunctional, chaotic administration that, officials recognize in retrospect, could have accomplished a lot more. Trump is determined to fix that, we're told.

The presidential election was called early Saturday in Nevada, where President-elect Trump picked up 50.7% of the vote to Vice President Harris' 47.4%, flipping the state that backed President Biden in 2020.

Why it matters: The win puts Trump, having already secured the popular vote and 301 electoral votes by the Associated Press' count, one state away from sweeping all seven swing states and punctuating a devastating blow to Democrats.

President-elect Trump blasted California Gov. Gavin Newsom on Friday for declaring a fight to protect the state from the incoming administration.

The big picture: Newsom called an emergency special session a day earlier to prepare for potential attacks on the Golden State's civil rights, abortion protections and climate actions in the face of the incoming White House.

Former House Speaker Nancy Pelosi (D-Calif.) questioned President Biden's decision to stay in the race so long before endorsing Vice President Harris for the Democratic nomination in an NYT interview published Friday.

Why it matters: Democrats are deeply divided over what went wrong this election cycle. As those debates rage, the bad blood between two giants of the Democratic old guard seems to be getting worse.

A federal judge on Friday struck down Illinois' assault weapons ban, ruling it violates the Second and 14th Amendments of the Constitution.

The big picture: The law barring assault weapons and high-capacity magazines has faced a number of legal challenges since it was signed by Illinois Gov. JB Pritzker (D) in 2023.

GOP operative Susie Wiles is widely viewed as the person most responsible for keeping Donald Trump's 2024 campaign more organized than his previous efforts. Come January, she'll have the second most important job in the White House.

Why it matters: As Trump's chief of staff, Wiles will bring a low-profile, calm but firm leadership style to a position that saw frequent turnover and tension during Trump's first administration.

The Justice Department charged a man on Friday who was tasked with planning an Iranian plot to murder President-elect Trump ahead of the election.

The big picture: U.S. officials have long warned about Iran targeting American leaders. U.S. Attorney General Merrick Garland said on Friday Iran poses a "grave" threat to the United States' national security.

Federal and state authorities are investigating a string of racist text messages sent to Black people across the U.S. during the week of the presidential election.

The big picture: Racist messages echoing slavery's horrors have hit phones nationwide, targeting students and adults alike.

Tesla pushed back into the $1 trillion market cap club following a surge in stock price Friday.

Why it matters: Just weeks ago investors were fretting about CEO Elon Musk's support for Donald Trump — now that they've both won, attention has turned to the potential benefits for the company.

The judge overseeing President-elect Trump's federal Jan. 6 case granted special counsel Jack Smith's request Friday to pause proceedings in the case.

Why it matters: It's likely the first step in ending prosecutions against the president-elect, who is the first convicted felon to win the White House.

As the Trump transition gets underway, the cybersecurity industry is anxiously wondering whether key agencies will get new assignments and who will be tapped for top government positions.

Why it matters: Those who have President-elect Donald Trump's ear in the White House and the leaders of top cybersecurity agencies set the tone for how the United States responds to nation-state cyberattacks and how it dictates new security requirements for companies.

The votes aren't all counted yet, but the early jockeying for position on the Fed's future has begun.

Why it matters: Fed chair Jerome Powell said bluntly Thursday he would not step down even if President-elect Trump asked him to, and that it would be illegal for the president to fire or demote a Fed governor.

President-elect Trump's return to the White House sent books about totalitarianism, tyranny and dystopia soaring off the shelves with titles by Margaret Atwood and George Orwell climbing Amazon's rankings.

Why it matters: The same phenomenon occurred after Trump was elected president in 2016, as the prospect of his presidency sparked fears of authoritarian rule and anti-abortion policies.

Donald Trump's phone call with Ukrainian President Volodymyr Zelensky on Wednesday included two surprises: Elon Musk was also on the line, and Zelensky was somewhat reassured by what he heard from the president-elect, two sources with knowledge of the call tell Axios.

Why it matters: The new details of the call underscore how influential Musk could be in the second Trump administration, and the uncertainty over how exactly Trump will approach Ukraine.

Ukraine President Volodymyr Zelensky confirmed Thursday that North Korean troops have engaged in combat with Ukrainian forces on the battlefield.

Why it matters: The clashes represent a stark escalation in the war as President-elect Trump, who has repeatedly criticized U.S. aid to Ukraine and suggested the country instead make a deal with Russia, prepares to reshape U.S. policy in the region.

President-elect Trump's decisive reelection this week poses a major roadblock for countries seeking to address global climate change via the U.N. negotiations process.

Why it matters: With the world now on course to sail past the Paris temperature targets, countries can't wait until 2029 to curtail emissions and get money flowing to the most vulnerable nations.

On Election Day, voters in red states approved progressive ballot measures to raise the minimum wage and to put sick leave mandates in place.

Why it matters: Democrats didn't exactly crush it at the ballot box this year, but some of the economic policies typically associated with their party still proved popular.

Donald Trump's victory has ignited hope that mergers and acquisitions will surge under his light-touch regulatory administration.

Why it matters: A softer stance by Trump's merger cops would likely open the floodgates to a wave of deals seen as uncertain under the current antitrust regime.

Office occupancy rates fell on Election Day, as workers stayed home to vote.

Why it matters: While fewer companies are taking political stands, more are encouraging workers to cast a ballot.

Democrats didn't just lose badly.

• They lost to a convicted felon they ridiculed as a racist, misogynistic fascist — and an existential threat to democracy.
• And they didn't just lose to President-elect Trump. They lost the Senate ... likely the House ... many Hispanic men ... all three Blue Wall states ... both Southern swing states ... even substantial support in the bluest of states and cities.

Finger-pointing advisers to Vice President Harris and President Biden agree on one thing: President-elect Trump's victory is the other one's fault.

Why it matters: Biden premised his presidency on preventing Trump from returning to the Oval Office: He failed. So, someone needs to bear the blame.

Vice President-elect JD Vance will head into the White House with a tight-knit circle of loyalists who were with him during the campaign and, in many cases, came to the U.S. Senate with him from Ohio.

Why it matters: Like Vance, most of his advisers and staff are from the GOP's populist-conservative wing. Since President-elect Trump can't run again, Vance will be viewed from Day 1 as a likely 2028 candidate.

Whether he becomes the House's speaker or its minority leader in the new Congress, Hakeem Jeffries is vowing to lead the Democratic resistance.

Driving the news: Jeffries, the current House minority leader, promised his biggest donors on Thursday that House Democrats will "hold the line" on any potential threats to democracy from President-elect Trump, Axios has learned.

House Minority Leader Hakeem Jeffries (D-N.Y.) said on Spectrum 1 News Thursday evening there are still "flip opportunities" in several House races that have yet to be called.

The big picture: While several key House races remained uncalled into Friday morning, Axios' Andrew Solender notes Democrats are increasingly pessimistic they'll be able to flip enough of the remaining Republican-held seats to snatch a majority and prevent a GOP trifecta in D.C. next year.

A federal judge in Texas on Thursday ruled against a Biden administration program for undocumented immigrants married to U.S. citizens.

Why it matters: The ruling means roughly 500,000 people who lack legal status but are married to a citizen will have a longer process to get a green card. The program, called "Keeping Families Together," would also have benefited stepchildren of U.S. citizens by creating an easier path to citizenship.

Nearly every Democratic leader is getting swept up in a party-wide blame game over their calamitous performance in the 2024 election — but House Minority Leader Hakeem Jeffries (D-N.Y.) appears to be largely evading internal backlash.

Why it matters: House Democrats' strong performance compared to the Harris-Walz ticket gives Jeffries a chance to emerge as a singular opposition figure in the Trump administration.

President-elect Trump has vowed to crack down on immigration and start mass deportations on day one of his presidency, and Project 2025 offers a wider look into what could come next.

The big picture: The 900-page wishlist is a roadmap for the next Republican administration to zero in on initiatives the GOP has long targeted — including a to-do list on immigration.

Weeks before the election, President-elect Trump privately dismissed Sen. Rick Scott's (R-Fla.) leadership bid, telling allies it is "not serious," two sources familiar with what was said told Axios.

Why it matters: With Trump's decisive victory and the Senate majority secured, potential replacements for Senate GOP Leader Mitch McConnell are hustling to get the support they need before the Nov. 13 vote.

Levi's heir Daniel Lurie will serve as San Francisco's new mayor after defeating London Breed in the city's most closely watched local race, preliminary results show.

The latest: Lurie won about 56% of votes after ranked-choice tallies, compared to Breed's approximate 43%. The mayor conceded Thursday evening, sharing on social media that she'd congratulated Lurie in a phone call and pledged to ensure a smooth transition.