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!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

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!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Photo: Jim Watson/AFP via Getty Images

There is growing concern among top conservative leaders that the Trump administration isn't addressing the long-term economic impact of the coronavirus, several sources tell Axios. One top adviser said if the recovery is bungled it could cost President Trump the election.

What we're hearing: "The next 4-8 weeks is really going to decide whether Trump gets reelected," Stephen Moore, Trump's former nominee for the Federal Reserve board, told Axios. If the administration mishandles its economic recovery efforts, he said, Trump is "in big trouble."

  • Other conservative leaders — including former Congressman and Club for Growth President David McIntosh, a Pence ally who served in the same Indiana district immediately before the Vice President — said they worry that there isn't enough attention being placed on the longer-term, post-coronavirus economic strategy.

Treasury Secretary Steven Mnuchin has been singled out for some of the sharpest criticism.

  • "I don't think [Mnuchin] has yet started thinking about that long-term, how do we incentivize the rapid recovery or the V-shape bounce back?" McIntosh told Axios.
  • "I understand their planning process, to deal with emergency,” he said. “But now it's time to start thinking of the exit strategy.”
  • “Red flags are going up. We understand that there is this sort of survival phase, but there's a concern that Mnuchin is overplaying that and not looking ahead," a conservative strategist told Axios. "The emerging consensus is the next phase needs to be about economic growth, not about making government bigger through massive spending and increased regulation that stifles the economic recovery."  

Why it matters: Trump built his re-election pitch on the idea the U.S. has seen historic prosperity under his leadership — but now the economy is in shambles.

The other side: "The President wants to see this country open again so people can get back to work and every action he has taken throughout this pandemic has been to ensure we emerge healthy, stronger, and with a growing, prosperous economy," White House spokesman Judd Deere told Axios.

  • “It was under the President’s leadership that the United States economy reached such amazing heights before it was artificially interrupted and he is the leader to take us back there again," Trump campaign communications director Tim Murtaugh said.
  • The Treasury Department did not respond to a request for comment.

The big picture: Trump, who is growing increasingly frustrated with the pandemic's negative impact on the economy, is preparing to launch a second coronavirus task force focused on economic recovery.

  • But McIntosh poured cold water on the idea of a totally separate task force, warning that a second group would create "competing centers for decision making."
  • Instead, McIntosh recommended that they instead beef up the existing task force led by Pence with outside business advisers, not more government officials, "to give them that perspective of what matters in the real world economy."

The bottom line: "Scientific data will drive any decisions on reopening the country because [Trump's] number one priority is to protect the safety and well-being of the American people," a White House official said.

Go deeper

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios

  1. Health: Fall and winter COVID surge "unlikely" if people get vaccinated.
  2. Politics: School boards are the next political battleground.
  3. Vaccines: Pfizer begins application for full FDA vaccine approval — Moderna says its COVID booster shot shows promise against variants.
  4. Economy: U.S. adds just 266,000 jobs in April, far below expectations.
  5. World: Asia faces massive new COVID surgeIndia records its deadliest day of the pandemic.
  6. Variant tracker: Where different strains are spreading.

Kevin McCarthy officially endorses Elise Stefanik to replace Liz Cheney

House Minority Leader Kevin McCarthy. Photo: Win McNamee/Getty Images

House Minority Leader Kevin McCarthy (R-Calif.) officially endorsed Rep. Elise Stefanik (R-N.Y.) to become the GOP's next House Republican conference chair during a Fox News appearance Sunday.

Why it matters: The GOP has been feuding internally over the fate of the current chair, Rep. Liz Cheney (R-Wyo.), because of her criticisms of former President Donald Trump, and her vote to impeach him for his role in the Jan. 6 Capitol riot.

Fauci: Vaccines could turn COVID-19 "surges" into "blips"

NIAID director Anthony Fauci told "Meet the Press" Sunday that if more Americans get vaccinated in accordance with the Biden administration's goals, COVID-19 surges may be replaced by "blips."

State of play: Last week President Joe Biden announced his goal to get 160 million Americans fully vaccinated by July 4, with at least 70% of Americans having at least one shot.

You’ve caught up. Now what?

Sign up for Mike Allen’s daily Axios AM and PM newsletters to get smarter, faster on the news that matters.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!