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National

Meta’s new microblogging app Threads is emerging as a potential threat to Twitter’s lock on politicians and political observers seeking real-time news and debate.

The latest: Within 16 hours, the Instagram-linked app had been downloaded more than 30 million times — making it the most rapidly downloaded app of all time. Twitter has already threatened legal action against Meta for creating a "copycat."

Why it matters: Most Twitter competitors have struggled to match the size and bipartisanship of its user base, but Threads is garnering significant participation from both parties.

Sites like GETTR and Truth Social have almost exclusively been the dominion of the right. The same goes for liberals with Mastodon and Post News.

But with Twitter struggling under the ownership of Elon Musk, lawmakers are eager to find a credible alternative. "For members of Congress ... it's really important for us to use social media to connect with the community," said Rep. Robert Garcia (D-Calif.).

"In such an impossibly fractured media landscape, whatever tools we can use to reach people we will try,” said a House communications director.

By the numbers: As of Thursday evening, more than a quarter of Congress' 535 House members and senators had made accounts.

More than 100 are Democrats, but there are also around three dozen House Republicans and 10 Senate Republicans, including House Speaker Kevin McCarthy, House Majority Leader Steve Scalise and arch-conservatives like Sen. Ted Cruz.

Half a dozen GOP presidential candidates have joined — including Sen. Tim Scott, former U.N. ambassador Nikki Haley and former Vice President Mike Pence — as have several GOP governors.

The White House is staying coy about whether it will jump on the bandwagon, but several top aides — such as domestic policy director Neera Tanden and deputy press secretary Andrew Bates — have created accounts.

Between the lines: Since Musk took over Twitter, some Republicans have come to view competing platforms as inherently liberal-coded. 

But Threads, which is already associated with relatively non-partisan Instagram, appears to carry less of a stigma. 

"I'm just like, 'oh another network, better get my boss on it,'" one GOP congressional aide told Axios. "I think this will be the first real [T]witter competitor[.]"

Yes, but: Some on the right, including Rep. Marjorie Taylor Greene (R-Ga.) and Donald Trump Jr., are already accusing the platform of bias against conservatives.

Between the lines: Democrats have long been critical of Meta, but generally view Threads as a superior alternative to Twitter — which one senior House Democrat described as an "unrecognizable cesspool of trolls, fake accounts, misinformation, racism, antisemitism and antagonism."

"I’m one of millions hoping that Threads can become a vibrant, diverse, and respectful virtual public square," they said.

Rep. Garcia said he is "really bullish" on Threads "as a very online person," but, he added, "I'm one of those that hopes that Twitter survives."

"Elon Musk is running Twitter into the ground," one Democratic aide said. "Everyone is trying to make plans for how to reach audiences elsewhere."

Zoom in: Another Democratic aide said recent changes to Twitter, specifically limits on how many tweets a user can read each day, have made it "untenable" for political communications.

"Imagine it’s a breaking news day and ... you can’t keep up [because] you’ve hit your limit!"

What we're watching: The House's chief administrative officer is expected to send out cybersecurity guidance about using the new app.

In December, the CAO instructed staffers not to download another Twitter rival, Mastodon, onto official devices because it was "unclear what, if any, security implications the app may present."

A Democratic leadership aide told Axios they are having "informal [staff-level] discussion about Threads and the changes to Twitter" with offices, including advising them on social media best practices and testing out the "best and most authentic ways to inform their unique constituencies."

Twitter's press office, in response to an emailed request for comment, sent back its standard automated reply: a poop emoji.

Threads poses rare threat to Twitter's political monopoly

More than 1/4 of Congress has already signed up for the platform.

Social media

Social Media

2024 will be an election year like no other, as President Biden seeks re-election amid economic uncertainty, two wars and questions about his age. His likely foe, former President Trump, faces felony charges and vows revenge on his political enemies. Meanwhile, Americans generally are dissatisfied with those choices and are divided over immigration, race, education and more.

Politics & Policy

From the Valley to D.C., Big Tech players like Facebook, Google and Amazon are under more scrutiny than ever as new technology develops and privacy and antitrust concerns grow in lockstep with companies’ ambitions.

Technology

Uncertainty over whether Rep. Marjorie Taylor Greene (R-Ga.) is still in the House Freedom Caucus is overshadowing the return of Congress from recess.

Between the lines: Multiple Freedom Caucus members told Axios conflicting stories about her membership in the group, dating back to a vote on Greene’s membership that was taken before recess.

As of Thursday afternoon, Greene had not received formal notification of her removal from Freedom Caucus Chair Scott Perry, according to a source familiar.

Critics of the firebrand lawmaker took issue with a profanity-laced altercation she had on the floor with Rep. Lauren Boebert (R-Colo.) over competing resolutions to impeach President Biden. 

Proponents of removing her argued her behavior was "unprofessional" and took issue with her shift toward supporting House Speaker Kevin McCarthy (R-Calif.) on an array of issues, often breaking with her HFC colleagues. 

Freedom Caucus decisions generally require the support of 80% of its members, with a sizable number of her colleagues supporting her ouster. 

The intrigue:  Greene came into Congress branded as one of the most far-right and controversial members of the House, with her vocal support of leadership puzzling some HFC members. 

"There's certainly no love lost," one source familiar said of the situation.  

A Freedom Caucus spokesperson told Axios they do not comment on membership or internal process. 

Greene would be the first Freedom Caucus member booted from the group in its history.

The big picture: Cracks within the group have emerged during the 118th Congress, but the HFC is expected to continue to play a heavy role in strong-arming leadership into shifting policy to the right and bringing up controversial pieces of legislation.

"I mean, the vote was taken to remove Marjorie Taylor Greene from the House Freedom Caucus for some of the things she's done," Rep. Andy Harris (R-Md.) told reporters. "But other than that, they're no other no large divisions."

What's next: In a statement, Greene said she serves "no group in Washington" and "will never change." 

"I will work with ANYONE who wants to secure our border, protect our children inside the womb and after they are born, end the forever foreign wars, and do the work to save this country."

Marjorie Taylor Greene drama looms over House GOP's return from recess

"There's certainly no love lost," one source familiar said of the situation.

Freedom Caucus

The Food and Drug Administration on Thursday granted full approval for the first time to an experimental Alzheimer's drug, triggering a process that could expand coverage of the $26,500 treatment to millions of patients.

Why it matters: Eisai and Biogen's Leqembi was found to have modest success slowing the disease's progression in clinical trials, by delaying cognitive decline by 27% over 18 months.

The approval came despite safety concerns following three patient deaths during clinical trials.

"Today's action is the first verification that a drug targeting the underlying disease process of Alzheimer's disease has shown clinical benefit in this devastating disease," said Teresa Buracchio, acting director for the FDA’s office of neuroscience.

"This confirmatory study verified that it is a safe and effective treatment for patients with Alzheimer’s disease," Buracchio added.

The agency has until now given accelerated approvals to Alzheimer's treatments, meaning drugmakers could bring them to market based on preliminary evidence while they carried out confirmatory trials that could take years to complete.

The big picture: The FDA's action sets the stage for the Centers for Medicare and Medicaid Services to expand coverage for drugs that slow Alzheimer's progression. Prior to FDA's approval, the agency restricted coverage to patients enrolled in clinical trials. 

CMS announced in June that it would revise that policy as soon as a drug of that kind received traditional approval and pay for the drug for Medicare beneficiaries if their health providers agree to collect and share data about the drug's performance.

The agency said that data registries will "adhere to robust privacy protections," while still allowing researchers to access the information to conduct studies around how the drug works in real life.

"With FDA's decision, CMS will cover this medication broadly while continuing to gather data that will help us understand how the drug works. This is welcome news for the millions of people in this country and their families who are affected by this debilitating disease," said CMS Administrator Chiquita Brooks-LaSure.

What they're saying: Patient advocacy groups and research organizations celebrated the FDA's approval.

"Leqembi's traditional approval is a ray of hope for millions of patients who are doing everything in they can to enhance and extend their lives and reduce their families' burdens," said George Vradenburg, chairman and co-founder of the patient advocacy group UsAgainstAlzheimer's.

"This treatment, while not a cure, can give people in the early stages of Alzheimer's more time to maintain their independence and do the things they love," said Joanne Pike, CEO of the Alzheimer's Association.

"We finally have clarity around amyloid’s modest effect on cognitive decline. Now, it is more important than ever to double down and widen our focus to developing the next generation of drugs based on the biology of aging that can lead to a combination therapy and precision medicine approach," said Howard Fillit, co-founder and chief science officer of the Alzheimer’s Drug Discovery Foundation.

By the numbers: The Institute for Clinical and Economic Review said in April that, with its $26,500 price tag, Leqembi would cause "rapid growth in health care insurance costs that would threaten sustainable access to high-value care for all patients."

The organization suggested that the drug should cost between $8,900 and $21,500.

Don't forget: Over 6 million people are living with Alzheimer's in the U.S., and the number is expected to more than double by 2050, according to the Alzheimer's Association.

Catch up quick: Last month, independent FDA advisers unanimously said that Leqembi had clinical benefit for treating Alzheimer's.

Some advisers reiterated that since there are some risks associated with Leqembi, that patients should decide with their physicians if taking the drug is right for them. 

FDA approves first drug to slow Alzheimer's progression

Eisai and Biogen's Leqembi is the first drug to slow Alzheimer's progression to receive full FDA approval.

Alzheimer's disease

The U.S. health system faces critical questions about cost, access and equity. Technological advances and new discoveries about diseases like cancer and Alzheimer’s are transforming patient care and reshaping public health.

Health

Macro

Axios Macro

Data: Bureau of Labor Statistics; Chart: Axios Visuals

A remarkably robust U.S. labor market is coming into better balance. 

Why it matters: That's the broad takeaway from not one or two, but three reports out Thursday morning that show what's happening beneath the surface of the economy.

Driving the news: The number of vacant job openings fell by 496,000 in May, the Labor Department said, suggesting a cooling of demand for workers. But the same report showed the number of workers voluntarily quitting their jobs rose by 250,000 — a sign that workers still feel empowered.

Meanwhile, the number of people hired was up (by 107,000) and the number laid off down slightly (35,000).

Also Thursday morning, payroll processor ADP said the private sector added a stunning 497,000 jobs in June. The report isn't a perfect harbinger of the official government release, but the blockbuster number is worth paying attention to.

The bond market certainly paid attention. The U.S. 10-year yield soared on the news, surpassing 4% for the first time since March. Meanwhile, two-year rates — most sensitive to expected Fed moves — are near the highest level in more than 15 years.

Also Thursday, the Labor Department also released its weekly data on jobless claims, which showed a small uptick in people filing for unemployment benefits last week. But continuing claims dropped — meaning that Americans who lose their job seem to be finding a new one quickly.

Between the lines: Put all of these data points together, and you get a picture of a labor market entering a remarkable sweet spot, with the excess tightness of 2021 and 2022 dissipating, but workers still seeing abundant opportunities.

What they're saying: "Rumors of the Great Resignation's demise were greatly exaggerated, at least for now," wrote Nick Bunker, research director of the Indeed Hiring Lab, noting the uptick in quits.

"For now, demand for new hires remains elevated and employers are still holding onto the workers they have," he wrote. "This should be enough to give job seekers, employers and policymakers some comfort as the summer wears on."

The intrigue: One might expect the type of strong job creation shown in the ADP report to come with accelerating pay growth — and accompanying inflation fears. Not so much, according to ADP chief economist Nela Richardson.

"We're seeing that consumer-facing services are really leading the way in job creation. Essentially, jobs are following the consumer," she told reporters Thursday morning. However, "the industries that had strong hiring last month also saw declining pay growth."

That includes leisure and hospitality, which saw the biggest jobs gain (+232,000) but the sharpest decline in annual pay growth (+7.9% in the 12 months ended in June, compared to 8.4% in May). 

What's next: The June jobs report from the Bureau of Labor Statistics is due out Friday at 8:30am ET. Analysts expect it to show a slowdown to 240,000 net jobs created and the unemployment rate edging down to 3.6%.

The job market's pain-free rebalancing

The labor market is entering a sweet spot, with the tightness of 2021 and 2022 dissipating and workers seeing abundant opportunities.

Labor economics

Illustration of a hand holding multiple briefcases. 

Labor Market

Top stories & latest news on the Federal Reserve, real-time data, plus the biggest shifts happening in the U.S. and global economy.

Economy

After a record economic expansion, the coronavirus pandemic sent the U.S. economy into a recession as unemployment soared to staggering heights. The country now faces urgent questions about how much stimulus is needed for reeling consumers and businesses, and what a recovery might look like.

Economy & Business

Walt Nauta, an aide to former President Trump, pleaded not guilty Thursday to charges related to his handling of classified documents.

Why it matters: Both Trump and Nauta have pleaded not guilty in the federal classified documents case, which means the former president could split time between the courtroom and the campaign trail as he seeks another presidential term.

A federal judge in Florida last month set a preliminary start date of Aug. 14 for Trump's criminal trial in the case.

State of play: Nauta was present at the brief hearing Thursday, during which his lawyer entered his plea.

Nauta will face up to 20 years in prison if he is convicted of the most serious charge against him, the Washington Post reported.

Stanley Woodward, who is representing Nauta, declined to comment after the hearing.

The big picture: Nauta was indicted alongside Trump in June and named in six counts of the historic indictment, including conspiracy to obstruct justice and making false statements.

Previous arraignments for Nauta were delayed because he had trouble retaining a lawyer in Florida to represent him, per ABC News.

Trump himself pleaded not guilty to all charges in the classified documents case last month, days after the indictment was unsealed.

Zoom out: Authorities on Wednesday unveiled new details of the affidavit the FBI used to obtain a warrant to search Trump's Mar-a-Lago residence.

Trump aide Walt Nauta pleads not guilty in classified documents case

A federal judge set a preliminary start date of Aug. 14 for Trump's criminal trial in the case.

Axios

Thursday's top stories

Threads poses rare threat to Twitter's political monopoly

Marjorie Taylor Greene drama looms over House GOP's return from recess

FDA approves first drug to slow Alzheimer's progression

The job market's pain-free rebalancing

Trump aide Walt Nauta pleads not guilty in classified documents case

Women were disproportionately affected by the tech layoffs

Wagner boss who led mutiny is back in Russia, Belarus president says

Earth sees three hottest days on record

First Look: Biden begins to map big spending plans

The plan to dodge another tripledemic

The "flying car" dream just won't die

Meta's copycat machine

Read: New Trump Mar-a-Lago search warrant details released

Finding the good side of social media