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Trump endorses McConnell-backed candidate in Senate primary

The president has offered his endorsement to Sen. Luther Strange (R-Ala.), who replaced Jeff Sessions earlier this year and has the backing of Senate Majority Leader Mitch McConnell in a 3-way primary that could end in a runoff:

Of note: One of Strange's opponents, Rep. Mo Brooks (R-Ala.), has hit him for being tied to McConnell. Brooks quote to Breitbart: "Well, it's quite clear that Luther Strange, if he wins, will be because of loyalties to Mitch McConnell."

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Courtenay Brown
7 mins ago - Economy & Business

Banks cash in as Wall Street blows out Main Street

Illustration: Aïda Amer/Axios

America’s big banks capped off a winning year, led by soaring Wall Street-facing business lines.

Why it matters: Banks cashed in on the white-hot IPO market, record debt issuance, and sky-high trading volume — all of which played out as economic peril softened the consumer side of their businesses.

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Hans Nichols, author of Sneak Peek
Updated 10 mins ago - Politics & Policy

Biden to attempt "emergency economic relief" by executive order

President Biden. Photo: Mark Wilson/Getty Images

President Biden will continue his executive action blitz on Friday, issuing two more orders in an attempt to provide immediate relief to struggling families without waiting for Congress.

Why it matters: In his second full day in office, Biden is again resorting to executive actions as he tries to increase payments for nutritional assistance and protect workers' rights during the pandemic.

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Joann Muller, author of Navigate
22 mins ago - Economy & Business

What Biden's EV push could mean for jobs

Illustration: Sarah Grillo/Axios

President Biden's swift effort to re-establish stricter fuel efficiency mandates, along with his broader push toward vehicle electrification, is as much about creating new jobs as it is protecting the environment.

Why it matters: The U.S. lags far behind the rest of the world in electric vehicle adoption. Catching up will require big investments in EV production — including battery cell manufacturing and mining of raw materials — to avoid dependence on imports and foreign supply chains.

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