Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios Pro Rata

Dive into the world of dealmakers across VC, PE and M&A with Axios Pro Rata. Delivered daily to your inbox by Dan Primack and Kia Kokalitcheva.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Nashville news?

Get a daily digest of the most important stories affecting your hometown with the Axios Nashville newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Columbus news?

Get a daily digest of the most important stories affecting your hometown with the Axios Columbus newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Dallas news?

Get a daily digest of the most important stories affecting your hometown with the Axios Dallas newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Austin news?

Get a daily digest of the most important stories affecting your hometown with the Axios Austin newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Atlanta news?

Get a daily digest of the most important stories affecting your hometown with the Axios Atlanta newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Philadelphia news?

Get a daily digest of the most important stories affecting your hometown with the Axios Philadelphia newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Chicago news?

Get a daily digest of the most important stories affecting your hometown with the Axios Chicago newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios NW Arkansas

Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top DC news?

Get a daily digest of the most important stories affecting your hometown with the Axios DC newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Federal Reserve chair Jerome Powell. Photo: Kevin Dietsch/Getty Images/Bloomberg via Getty Images

The White House is asking Democratic senators to meet with Federal Reserve chair Jerome Powell before Thanksgiving — leading some to believe President Biden will renominate him this month, people familiar with the matter tell Axios.

Why it matters: The choice of Fed chairman is one of the most consequential in the U.S. and world economic systems. Senators from both parties also are preparing for the confirmation hearing to become a proxy battle over inflation.

  • Republicans already criticize the Fed for its $120 billion in monthly asset purchases, known as quantitative easing.
  • Democrats have demanded Powell do more to combat climate change and have criticized how the Fed has regulated banks under his leadership.
  • A White House official said that the president hadn’t made a decision yet and suggested that any potential meeting requests should not be linked to Biden's Fed choice.

Sen. Elizabeth Warren (D-Mass.) is openly hostile to Powell, putting both him and the president on notice that they’ll face a contentious nomination process.

  • Warren called him a “dangerous man” during a hearing in September.

Other Democrats, like Sen. Jon Tester (D-Mont.), have lobbied the White House to renominate Powell.

  • Nonetheless, he’ll need help from other centrist Democrats, as well as Republicans, to get confirmed in a 50-50 Senate.

Go deeper: Powell, a Republican nominated by President Trump in 2017 to replace then-Fed chair Janet Yellen, was confirmed for his first term by a vote of 84-13.

  • His term ends in February, but presidents typically make their pick known well ahead of time to give financial markets sufficient time to digest the choice.
  • Senate Republicans have warned Biden not to nominate Lael Brainard, currently a Fed governor, arguing she's too progressive to win their vote for Fed chair.

Driving the news: Biden told reporters Tuesday he planned to announce his Fed choice “fairly quickly," and it could be among a slate of Fed nominees.

  • Those hints, along with talk of scheduled Senate meetings, are fueling speculation an announcement is imminent.
  • “We're getting close,” Sen. Sherrod Brown (D-Ohio), chairman of the Senate Banking Committee, told Axios.
  • “I think there's going to be up to four nominations,” said Brown, alluding to other open seats, including the vice chair for bank supervision. “I assume that a number of them will be announced at once, fairly soon.”
  • Both Powell and Brainard were at the White House on Thursday for meetings, and they are the two final candidates, according to a person familiar with the matter.

Between the lines: Powell was often under attack from Trump for not keeping interest rates lower. He's gone out of his way to improve relations with Congress.

  • While he's been active historically in meeting with senators, some of them noticed an uptick in Powell's interest in meeting over the summer.
  • On Wednesday, Powell announced the Fed would decrease its monthly purchases — so-called tapering — in the face of mounting inflation.
  • “We have to be aware of the risks, particularly now the risk of significantly higher inflation,” he said.

Editor's note: This article has been updated to include new information from a White House official on President Biden's Fed decision considerations as well as new details on Powell and Brainard visiting the White House on Thursday.

Go deeper

Congress passes stopgap funding bill to avert shutdown

Senate Majority Leader Chuck Schumer. Photo: Chip Somodevilla/Getty Images

The Senate voted 69-28 to pass legislation Thursday night to fund the government until February 18.

Why it matters: The move staves off a government shutdown but lawmakers still have a busy month ahead: Congress needs to work out a deal to raise the debt ceiling in a few weeks and Democrats are trying to pass their behemoth social spending bill.

House passes stopgap funding bill that could avert shutdown

Speaker Nancy Pelosi. Photo: Chip Somodevilla/Getty Images

The House of Representatives on Thursday voted 221-212 to pass a bill funding the government through Feb. 18.

Why it matters: The measure now heads to the Senate, where it will need to be approved before midnight on Friday to avert a shutdown, but some Republicans have indicated that they may delay passage if they don't get a vote on an amendment to defund President Biden’s vaccine mandates.

Updated 17 mins ago - Politics & Policy

Omicron dashboard

Illustration: Shoshana Gordon/Axios

  1. Health: Coronavirus variant surveillance varies widely by state — Omicron cases confirmed in 5 U.S. states America probably won't lead the effort to understand Omicron.
  2. Vaccines: Omicron adds urgency to vaccinating world — Omicron fuels the case for COVID boosters — Moderna loses patent battles tied to COVID vaccine — Pfizer could have vaccine data for children under five by end of 2021, CEO says.
  3. Politics: Nevada to impose insurance surcharge on unvaccinated state workers — New Jersey GOP lawmakers defy statehouse COVID policy — Oklahoma sues Biden administration over Pentagon vaccine mandate — Omicron travel bans are sign of what's to come.
  4. World: WHO: Delta health measures help fight Omicron — COVID cases surge in South Africa in sign Omicron wave is coming — Germany approves new restrictions for unvaccinated people.
  5. Variant tracker: Where different strains are spreading.