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Trump and Romney. Photo: Drew Angerer, Mandel NganAFP/Getty Images

President Trump tweeted a video on Friday that falsely accused Sen. Mitt Romney (R-Utah) of being a "Democrat secret asset" who aimed to "infiltrate Trump's administration as Secretary of State."

The backdrop: Romney is one of many congressional Republicans who have rebuked the president over his decision to pull U.S. troops out of Syria in preparation for Turkey's military offensive into the region. Romney said on Senate floor Thursday: "What we have done to the Kurds will stand as a blood stain in the annals of American history."

Between the lines: The video — created by conservative PAC Club for Growth — is one of many unsubstantiated conspiracy theories tweeted by Trump in recent months.

Go deeper: Romney rips into Trump's betrayal of Syrian Kurds on Senate floor

Go deeper

Dan Primack, author of Pro Rata
32 mins ago - Economy & Business

Trump blocks banks from limiting loans to gun and oil companies

Illustration: Sarah Grillo/Axios

Big banks are no longer allowed to reject business loan applicants because of the industry in which they operate, according to a new rule finalized on Thursday by the Trump administration.

Why it matters: Wall Street has curtailed its exposure to industries like guns, oil and private prisons, driven by both public and shareholder pressures. This new rule could reverse that trend.

Former FDA commissioner: "Reliable drug supply is absolutely critical"

Axios' Caitlin Owens and former FDA commissioner Mark McClellan. Photo courtesy of Axios Events

Having a reliable supply of pharmaceutical drugs throughout America will be "absolutely critical" to boosting affordability in health care during the Biden administration, former Food and Drug Administration (FDA) commissioner Mark McClellan said at a virtual Axios Event on Friday.

The big picture: McClellan, who served under President George W. Bush, says drugs having limited supply and limited competition leads to elevated pricing. He considers drug supply to be a national security and public health issue.

Felix Salmon, author of Capital
3 hours ago - Economy & Business

Americans are still spending money

Source: Census Bureau; Chart: Axios Visuals

Americans spent more money at stores and restaurants in 2020 than they did in 2019 — even in the face of a devastating global pandemic that shut down broad sectors of the economy.

Why it matters: The monthly retail sales report this morning came in well below expectations, and showed consumer spending falling on a seasonally-adjusted basis. Total expenditures were still higher in December 2020 than they were a year previously, however.