Mar 22, 2019

Trump says he'll nominate Stephen Moore to Fed board

Photo: Tom Williams/CQ Roll Call

President Trump announced in a Friday tweet that he plans to nominate conservative economist and 2016 campaign adviser Stephen Moore to the Federal Reserve board.

Our thought bubble, via Axios' Courtenay Brown: If nominated and confirmed, Moore, who previously called Fed Chairman Jerome Powell incompetent, would fill one of the two vacancies on the Fed’s board of governors. Trump has not backed down on his unprecedented criticism of Powell, even though the Fed has indicated it will pause interest rate hikes — one of Trump’s gripes with the Fed.

Go deeper: Trump works to fill out the Fed board

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Why big banks are breaking up with some fossil fuels

Illustration: Sarah Grillo/Axios

JPMorgan Chase is the latest financial giant to unveil new climate commitments, and like its peers, it is hard to disentangle how much is motivated by pressure, conscience or making a virtue of necessity.

Why it matters: The move comes as grassroots and shareholder activists are targeting the financial sector's fossil energy finance, especially amid federal inaction on climate.

Trump acknowledges lists of disloyal government officials to oust

Photo: Mandel Ngan/AFP via Getty Images

President Trump on Monday acknowledged the existence of assembled lists of government officials that his administration plans to oust and replace with trusted pro-Trump people, which were first reported by Axios' Jonathan Swan.

What he's saying: “I don’t think it's a big problem. I don’t think it's very many people,” Trump said during a press conference in India, adding he wants “people who are good for the country, loyal to the country.”

Coronavirus only part of the story behind the Dow’s drop

Photo: Andrew Burton/Getty Images

As someone has certainly told you by now, the Dow fell by more than 1,000 points yesterday, its worst day in more than two years, erasing all of 2020's gains. Most news headlines assert that the stock market's momentum was finally broken by "coronavirus fears," but that's not the full story.

What's happening: The novel coronavirus has been infecting and killing scores of people for close to a month and, depending on the day, the market has sold off or risen to record highs.