Oct 4, 2017

Rep. Tim Murphy won't seek re-election after abortion reports

Rep. Joseph Crowley, D-N.Y., left, and Rep. Tim Murphy, R-Pa., right, walk outside the Supreme Court in 2015. Photo: Pablo Martinez Monsivais / AP

Representative Tim Murphy told KDKA's Jon Delano he won't be seeking re-election in 2018, just a day after the Pittsburgh Post-Gazette reported he pushed his mistress to have an abortion earlier this year despite his pro-life political stance.

Why it matters: There are three Democrats already vying for his seat, according to Ballotpedia. Murphy, who has been in Congress since 2003, ran unopposed — by Dems and Republicans alike — in every election since 2012.

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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.