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Data: Federal Reserve; Chart: Axios Visuals

U.S. industrial production fell by 0.3% in January, month over month, and the previous month was revised down to -0.4%, according to the Federal Reserve.

By the numbers: The reading brings the annualized rate to -0.8% and is the fifth reading in a row below zero.

Why it matters: "The drop in factory output is particularly concerning as over the past 50 years, we've only seen one instance where IP slowed this much YoY without a commensurate recession," BMO Capital Markets rate strategist Jon Hill said in a Friday note to clients.

The big picture: Some of the weakness can be blamed on Boeing, which has all but shut down as its 737 MAX jet has been grounded worldwide after two plane crashes killed hundreds in 2018 and 2019.

  • The Fed's report showed industrial output was led lower by a 7.4% fall in aerospace production and a 0.1% decline in overall manufacturing output.
  • Utility production dropped 4%.
  • The numbers were also weakened by warmer weather, as electric and natural gas utilities fell 3.2% and 7.7%, respectively.

Go deeper: U.S. manufacturing activity hits worst level since 2009

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GOP fears "little guy" attack on Amy Coney Barrett

Illustration: Eniola Odetunde/Axios

White House aides and Senate Republicans have spent the past week readying binders full of messaging and rebuttals to guide Judge Amy Coney Barrett to a pre-Nov. 3 confirmation. "We knew for days it was going to be Amy," a Senate GOP aide involved in her confirmation process told Axios.

What we're hearing: Beyond the expected questions about her views on religion, abortion and health care, Republicans worry about Democrats painting Barrett as someone who is insensitive and unfair to “the little guy,” one source involved in the talks told Axios.

Updated 34 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 4:30 p.m. ET: 32,938,616 — Total deaths: 995,465 — Total recoveries: 22,782,724Map.
  2. U.S.: Total confirmed cases as of 4:30 p.m. ET: 7,101,774 — Total deaths: 204,618 — Total recoveries: 2,750,459 — Total tests: 100,492,536Map.
  3. States: 3 states set single-day coronavirus case records last week — New York daily cases top 1,000 for first time since June.
  4. Health: The long-term pain of the mental health pandemicFewer than 10% of Americans have coronavirus antibodies.
  5. Business: Millions start new businesses in time of coronavirus.
  6. Education: Summer college enrollment offers a glimpse of COVID-19's effect.

Debate commission co-chair: We don't expect moderators to fact-check candidates

Presidential Debate Commission co-chair Frank Fahrenkopf Jr. said Sunday he doesn't expect Fox News anchor Chris Wallace or any of the other moderators to fact-check President Trump or former Vice President Joe Biden at the debates.

What he's saying: "There's a vast difference between being a moderator in a debate and being a reporter who is interviewing someone," Fahrenkopf said on CNN's "Reliable Sources."