Moody's Ratings cut its credit rating on the United States by one notch on Friday, citing an increase in government debt and interest payment ratios.
Why it matters: The Moody's downgrade to Aa1 removes the U.S. government's last remaining triple-A credit rating, diminishing its status as the world's highest-quality sovereign borrower.
Amid long, uncomfortable pauses, Joe Biden struggled to recall when his son died, when he left office as vice president, what year Donald Trump was elected or why he had classified documents he shouldn't have had, according to audio Axios obtained of his October 2023 interviews with special counsel Robert Hur.
Why it matters: The newly released recordings of Biden having trouble recalling such details — while occasionally slurring words and muttering — shed light on why his White House refused to release the recordings last year, as questions mounted about his mental acuity.
The Wisconsin judge arrested by the FBI last month for allegedly helping an undocumented defendant avoid arrest has assembled a high powered legal team to fight President Trump's"extraordinary attack" on the judicial branch.
The big picture: Milwaukee County Circuit Court Judge Hannah Dugan launched a fundraising site for her defense, painting her case as a broader defense of the judiciary's independence from the Trump administration.
Why it matters: Green, unlike Rep. Shri Thanedar (D-Mich.), has a history of following through on this sort of thing. He repeatedly forced unsanctioned impeachment votes against Trump during his first term.
The Supreme Court on Friday extended an existing block on the Trump administration's use of the Alien Enemies Act to deport Venezuelan immigrants.
The big picture: While temporary, the decision is a defeat for the president's attempt to use the 18th-century wartime law to quickly carry out deportations of alleged Venezuelan gang members to El Salvador.
President Trump on Friday said pop star Taylor Swift is no longer "hot," adding a new chapter to their often one-sided feud.
Why it matters: Trump has repeatedly targeted the successful singer since she publicly endorsed Democratic candidates, including his most recent opponent former Vice President Harris.
The House Budget Committee rejected President Trump's "big, beautiful bill" Friday after Speaker Mike Johnson (R-La.) and his leadership team were unable to bring several Republican opponents on board with the measure.
Why it matters: It's a major setback for Johnson and President Trump on the marquee tax and spending cut legislation, which the speaker said he wants to pass by Memorial Day.
President Trump on Friday accused former FBI director James Comey of calling for his assassination in a social media post with a photo of "8647" written by seashells in the sand.
Why it matters: The Trump administration and the president's MAGA allies online seized on the post as evidence Comey was advocating for political violence. Comey has since deleted the post and said the "political message" was not intended as a call for violence.
xAI blamed "an unauthorized modification" for its chatbot Grok giving users off-topic and false responses about "white genocide" in South Africa this week.
Why it matters: xAI owner Elon Musk, who is from South Africa, has also falsely accused the country of perpetuating "genocide" against white residents, a claim President Trump has also embraced.
President Trump said Friday the U.S. will unilaterally set tariff rates for many trading partners in the coming weeks, citing a lack of capacity to negotiate with so many countries simultaneously.
Why it matters: The U.S. already did that to some degree, on "Liberation Day" last month, then paused most of those rates after a global market panic sent stocks plunging and interest rates soaring.
An anti-Trump protest online featuring the numbers "8647" is now at the heart of a federal investigation after former FBI director James Comey shared it in a social media post.
The big picture: Comey's since-deleted post stirred outrage among prominent MAGA voices online, who accused him of calling for violence against Trump. Comey later said he didn't realize the "political message" could be interpreted in that way.
The Energy Department revealed it's carefully auditing billions of dollars in Biden-era grant awards. It could spell trouble for some projects.
Why it matters: The news sheds light on an area of intense interest — how and whether DOE will proceed with unprecedented project support amid Trump 2.0's climate policy U-turn.
President Trump announced multibillion-dollar AI deals between U.S. companies and Gulf countries this week even as many in Washington continue to fear that China could gain backdoor access to advanced AI chips and worry that critical AI infrastructure could end up based outside the U.S.
The big picture: The president loves big deals with big numbers. Tech interests close to Trump want to see U.S. AI firms win global business. But China hawks in both parties distrust the Gulf states, which have close trade ties with China.
Steve Bannon and other top MAGA voices tell Axios that President Trump's second 100 days — ending Aug. 7 — will be pivotal in determining how much of his second-term agenda he'll actually deliver.
Why it matters: Trump has harnessed executive power in unprecedented ways — to curtail immigration, gut federal agencies and punish his enemies. But almost nothing he's done so far has been codified in law, ratified in treaties, or otherwise set in stone.
The Supreme Court is weighing an Oklahoma case on whether to allow public funding of religious charter schools. It's just one part of a new wave of initiatives by Christian groups to put more religion into public education.
Why it matters: A movement driven mostly by Republican-led states also is pushing to expand education voucher programs, require Bibles and the Ten Commandments in classrooms, and allow students to skip school for religious instruction.
Hundreds of Starbucks workers have walked off the job at over 100 U.S. stores this week in a strike that's protesting a new dress code that went into effect this week.
The big picture: Axios' Kelly Tyko notes the Seattle-based coffee giant is trying to revitalize the brand amid sluggish sales by returning to its roots with a new design Starbucks says provides "simplified color options that allow our iconic green apron to shine." But the change sparked outrage with the baristas union.
The U.S. Secret Service and Department of Homeland Security are investigating former FBI Director James Comey's Instagram post of shells arranged on a beach that read "8647," DHS Secretary Kristi Noem said Thursday evening.
Why it matters: "86" is a slang term that can mean "to get rid of" and some use it to mean to kill — something President Trump's elder son, Donald Trump Jr., pointed to on X as he shared a screenshot of Comey's since-deleted post with the comment, "Just James Comey causally calling for my dad to be murdered."
Secretary of State Marco Rubio said Thursday that all NATO nations "will have agreed on a goal" of reaching 5% in defense spending over the next decade by time the military alliance has held its summit next month.
Why it matters: President Trump has long complained other members have ripped off the U.S. and failed to meet the military spending target of 2% of their GDP. During the 2024 election campaign he made threats that he'd "encourage" Russia "to do whatever the hell they want" to countries that didn't meet the NATO spending goal.
