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A tornado that hit Oklahoma in 2017. Photo: Jason Weingart/Barcroft Images/Barcroft Media via Getty Images

A tornado struck near Paducah, Texas, just after 3pm CST Monday, kickstarting a potentially deadly severe weather outbreak that's expected to continue to hit northern Texas and across Oklahoma through Tuesday.

Between the lines, per Axios' Andrew Freedman: An unusually powerful jet stream is roaring above the central and southern Plains, and there is plenty of wind shear (winds changing speed and/or direction with height) and powder-keg-like instability to trigger thunderstorms to erupt. Forecasters have warned of "significant threat to life and property" from this severe weather event, both from tornadoes and flash flooding.

Go deeper: "High risk" tornado outbreak underway in Texas, Oklahoma

Go deeper

Updated 1 min ago - Politics & Policy

Inauguration Day dashboard

Screenshot: Fox News

President Trump has delivered a farewell speech and departed Washington for the last time on Air Force One, kicking off the day that will culminate with President-elect Joe Biden taking office.

What's next: The inaugural celebration for young Americans is being livestreamed, starting at 10am.

Updated 18 mins ago - Politics & Policy

Trump departs on final Air Force One flight

President Trump and his family took off on Air Force One at 9 a.m. on Wednesday morning for the final time en route to Florida.

The big picture: Trump's final hours as president were punctuated by his decisions to snub his successor's inauguration and grant pardons to many of his allies who have been swept up in corruption scandals.

Dion Rabouin, author of Markets
2 hours ago - Economy & Business

Janet Yellen said all the right things to reassure the markets

Illustration: Aïda Amer/Axios

Treasury Secretary nominee and former Fed chair Janet Yellen's confirmation hearing before the Senate Finance Committee on Tuesday showed markets just what they can expect from the administration of President-elect Joe Biden: more of what they got under President Trump — at least for now.

What it means: Investors and big companies reaped the benefits of ultralow U.S. interest rates and low taxes for most of Trump's term as well as significant increases in government spending, even before the coronavirus pandemic.