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Photo: Dan Kitwood/Getty Images

Though President Trump insisted he plans to follow through on his threat to add escalating tariffs to all goods imported from Mexico, suspicion is beginning to grow among asset managers.

What it means: The timing, lack of clarity and lack of policy action or precedent has some wondering whether the president's actions are less about punishing Mexico and more an attempt to get the Fed to cut rates in order to stimulate the economy ahead of 2020.

What they're saying: Mick Mulvaney, the acting White House chief of staff, said on "Fox News Sunday" that Trump was "deadly serious" about the tariffs, but acknowledged there was "no specific target" and no concrete benchmarks to judge whether Mexico was stopping the flow of migrants from Central America into the U.S. as Trump demanded.

The other side: Afsaneh M. Beschloss, founder and CEO of asset management firm RockCreek, said Tuesday at the Bloomberg Invest conference in New York that Wall Street is starting to wonder aloud about the president's intentions.

"Looking at what's going on with trade, one question some people are asking is why are there so many tweets and why so much attention to trade at this particular moment. Because we know the president is one of the smartest when it comes to politics."
"We're out of fiscal policy options, since it's unlikely Congress can come to an agreement, and we know that the Fed is independent. So is the causal effect here to push the news on trade to a point that it might impact interest rate decisions? Some people are starting to talk that way."

Go deeper: Trump's Mexico tariffs would constitute the biggest tax hike in 30 years

Go deeper

Updated 44 mins ago - Energy & Environment

Bomb cyclone prompts blizzard warnings from Virginia to Maine

Computer model projection showing the intense storm off of Cape Cod on Jan 29, 2022, with heavy snow and strong winds lashing the coastline. (Weatherbell.com)

Blizzard warnings are in effect for 11 million people from coastal Virginia to eastern Maine as a historic winter storm is set to slam the Mid-Atlantic and Northeast beginning Friday.

Why it matters: The storm will bring hazards ranging from zero visibility amid hurricane force wind gusts and heavy snow, to coastal flooding that will erode vulnerable beaches and threaten property from the Jersey shore to coastal Massachusetts.

Updated 1 hour ago - Politics & Policy

Omicron dashboard

Illustration: Shoshana Gordon/Axios

  1. Health: Contact tracing fizzles across America — New clues emerge on long COVID — Omicron is finally burning out — It's very difficult to get access to antiviral COVID treatments — Axios-Ipsos poll: Omicron's big numbersAnother wave of death — FDA limits use of Regeneron and Lilly antibody treatments.
  2. Vaccines: Pfizer begins clinical trial for Omicron-specific vaccine — The shifting definition of fully vaccinated.
  3. Politics: Virginia AG says public colleges can't mandate COVID vaccines —Alaska governor joins Texas lawsuit over National Guard vaccine mandate — Navy discharges 45 sailors for refusing vaccine — Spotify to remove Neil Young's music after his Joe Rogan ultimatum — White House: 60M households have ordered free COVID-19 rapid tests.
  4. World: U.K. to lift travel testing requirement for fully vaccinated — Beijing Olympic Committee lowers testing threshold ahead of Games.
  5. Variant tracker
4 hours ago - World

Biden will move U.S. troops to Eastern Europe "in the near term"

President Biden boards Air Force One at Joint Base Andrews on Jan. 28. Photo: SAUL LOEB/AFP via Getty Images

President Biden said on Friday he plans to move U.S. troops to Eastern European and NATO countries “in the near term.”

Driving the news: “Not too many” U.S. troops, Biden added in remarks to reporters at Joint Base Andrew upon returning from a trip to Pennsylvania.