Mar 15, 2017

Trump: "The assault on the American auto industry is over"

Evan Vucci / AP

Trump announced he and the EPA are re-examining midnight hour Obama-era federal requirements on fuel economy standards requiring a fleet-wide average of 36 mpg in real-world driving by 2025 for cars and trucks. A rollback is expected no later than April 2018.

"The assault on the American auto industry is over," as Trump put it in his speech at a former GM plant that's part of the American Center for Mobility, which is a staging ground for self-driving vehicles.

Trump told auto CEOs that they "have to build plants here." He added, "I know I gave you a hard time but you have to build them here," according to The Washington Post. He also gave a classic campaign-style speech, harping on NAFTA and the TPP.

Trump is en route to Nashville to lay a wreath on Andrew Jackson's tomb to mark what would be his 250th birthday.

What to watch: Trump announced he will have a "big" auto industry announcements next week about jobs.

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Scoop: Top NSC official reassigned to Energy Department amid "Anonymous" fallout

Photo: Mark Wilson/Getty Images

Deputy national security adviser Victoria Coates will be reassigned as a senior adviser to Energy Secretary Dan Brouillette, the National Security Council said Thursday — and a senior White House official said that the administration "rejects" the rumors that she is "Anonymous."

Why it matters: Coates has battled claims that she is the still-unknown Trump administration official that penned a New York Times op-ed and book critical of President Trump.

The Fed may be setting the table for 2020 rate cuts

Illustration: Sarah Grillo/Axios

The Fed looks to be laying the groundwork to lower U.S. interest rates this year, just as they did in April 2019 before cutting rates in July, September and October.

Why it matters: A Fed rate cut makes taking on debt more attractive for U.S. consumers and businesses, helping to juice the economy, but also puts the central bank in a weaker position to fight off a potential recession.

Morgan Stanley to buy E*Trade in a $13 billion deal

Photo: Rafael Henrique/SOPA Images/LightRocket via Getty Images

Morgan Stanley is planning to buy E*Trade Financial Corp. in a $13 billion all-stock deal, the Wall Street Journal reports, with plans to acquire the company known for helping everyday Americans manage their money.

Why it matters: The deal, which would be the largest by a major American bank since the financial crisis, signals Morgan Stanley‘s desire to bulk up in wealth management.