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Trump hasn’t ruled out moving the embassy to Jerusalem. Photo: Sebastian Scheiner / AP

President Trump isn't going to announce a decision this week about whether the U.S. will move its embassy to Jerusalem, an administration official tells us. "The President is still considering options," the official said, noting that Trump already has a full plate with the North Korea missile launch, the tax bill in the Senate, and other issues.

Yes, but: That still leaves the door open to an announcement in the near future. And the administration official didn't rule out an embassy move: "The law passed in 1995 states that the Embassy should be in Jerusalem. As the President has made clear, it is a matter of when, not if."

What to watch: Israeli officials think there is a chance Trump will sign the waiver and not move the embassy for the next six months, but at the same time declare that Jerusalem is the capital of Israel. If that happens, it will likely cause an angry response from the Palestinians and some Arab states, including Saudi Arabia and Jordan.

The big picture: The status of Jerusalem is one of the core issues of the Israeli-Palestinian conflict. A presidential announcement that Jerusalem is the capital of Israel will make it harder for the Trump administration to promote the peace initiative it has been working on for the past few months.

Go deeper

Felix Salmon, author of Capital
1 hour ago - Economy & Business

Maybe we can ignore inflation expectations

Illustration: Sarah Grillo/Axios

Just because we expect inflation to show up, doesn't mean it will. That's the message from an important new paper throwing cold water on a central tenet of monetary economics.

Why it matters: The Fed hikes interest rates when — and only when — it thinks inflation is otherwise going to be too high. That means it needs a formula to determine where it thinks inflation is going to be. But now a senior Fed economist is saying that the key ingredient in that formula "rests on extremely shaky foundations."

3 hours ago - Technology

Facebook: Metaverse won't "move fast and break things"

Illustration: Aïda Amer/Axios

Facebook on Monday said it will invest $50 million over two years in global research and program partners to ensure its metaverse products "are developed responsibly."

Why it matters: "It's almost the opposite of that now long-abandoned slogan of 'move fast and break things,'" Facebook's VP of global affairs Nick Clegg told Axios in an interview at The Atlantic Festival Monday.

Ina Fried, author of Login
3 hours ago - Technology

Behind the Instagram Kids pause

Illustration: Annelise Capossela/Axios

Facebook's announcement Monday that it was "pausing development" on Instagram Kids did little to slow a wave of criticism of the project ahead of a Senate hearing Thursday.

Yes, but: There's an argument to be made for building kids' versions of popular apps, even if their adult versions are causing real-world harms.