🔮 Axios PM: Biden surprise

🏈 Plus: Commanders for sale | Wednesday, November 02, 2022

Open in app View in browser   Presented By BlackRock   Axios PM By Mike Allen · Nov 02, 2022 🥳 Happy Wednesday: Today's PM — edited by Justin Green — is 497 words, a 2-minute read. 🚨Bulletin: The Fed raised interest rates by .75 percentage points and acknowledged it may soon slow the pace of hikes to assess the economic effects, Axios' Neil Irwin and Courtenay Brown report.     1 big thing: $50 billion in settlements Illustration: Shoshana Gordon/Axios   Another $10 billion is going on the pile of settlements over the distribution of addictive opioids. Why it matters: CVS and Walgreens — which announced settlements today worth about $5 billion each — are the two largest drugstore chains in the U.S., Axios' Herb Scribner and Noah Bressner report. The proposed framework would resolve a series of lawsuits brought by a group of states and Native American tribes. Walmart is negotiating its own settlement, which The Washington Post reports would be about $3 billion. The bottom line: Today's news would bring the settlement total to more than $50 billion, AP reports.     2. Tonight's Biden preview Anita Dunn (left) and Jen O'Malley Dillon at today's Axios event. Photo: Chuck Kennedy for Axios   🔮 Previewing the surprise speech President Biden will give tonight, White House aides say democracy will be at the center of his remarks at 7 p.m. ET. "The threat of political violence ... it's something that unites almost all Americans," senior adviser Anita Dunn told me today at an Axios News Shapers event. "[T]here is a lot at stake, including democracy, and that everyone has a role in that," said deputy chief of staff Jen O'Malley Dillon. Between the lines: Biden will be increasingly explicit and aggressive in confronting threats to democracy, including election denial. The emotional backdrop for the speech is last week's attack at Speaker Pelosi's home in San Francisco. Dunn told me the speech's location at Union Station near Capitol Hill is important. "Because on Jan. 6, we saw violence geared toward subverting democratic processes there."     A message from BlackRock Invested in the future of communities     At BlackRock, we are serving the communities that help the country thrive. We are proud to invest in the projects that build our economy, with $20 billion in U.S. roads, bridges and transportation invested on behalf of our clients. Learn more.     3. Catch up quick A cargo vessel carries Ukrainian grain today near Istanbul, Turkey. Photo: Ozan KOSE/AFP via Getty Images   Russia will resume participation in an agreement allowing grain exports to leave Ukrainian ports. Go deeper. Today's Powerball jackpot is an estimated $1.2 billion, the second largest in the game's 30-year history. Go deeper. Potential boycott: The Biden administration is unlikely to engage with Jewish supremacist politician Itamar Ben-Gvir, who is expected to be a senior minister in a future Israeli government, Axios from Tel Aviv author Barak Ravid reports.     🏈 4. Parting shot: Commanders for sale Photo illustration: Aïda Amer/Axios. Photo: Al Pereira/Getty Images   Embattled owner Dan Snyder is exploring a sale for the Washington Commanders, Axios D.C. co-author Cuneyt Dil reports. Snyder and his wife, Tanya, said in a statement that they have hired Bank of America to "consider potential transactions." Why it matters: Snyder was under mounting pressure to sell the team, stemming from investigations by congressional Democrats, the attorney general of D.C. and the NFL. Indianapolis Colts owner Jim Irsay said last month that NFL owners should seriously consider forcing Snyder to sell the team. D.C. Mayor Muriel Bowser said today that it's a "positive move for the team." The fans fled long ago. The Commanders' last playoff win was in 2005. What's next: Snyder has already fielded four calls about purchasing the team, Forbes reports. Share this story.     A message from BlackRock Invested in the future of education     Americans everywhere are working hard to build a better future. So at BlackRock, we're hard at work to help them achieve financial freedom. We're proud to help families invest to save for education by managing their 529 College Savings Plans. Learn more.   Thanks to Sheryl Miller for copy editing today's newsletter. Are you a fan of this email format? It's called Smart Brevity®. Over 300 orgs use it — in a tool called Axios HQ — to drive productivity with clearer workplace communications.   Axios thanks our partners for supporting our newsletters. If you're interested in advertising, learn more here. Sponsorship has no influence on editorial content. Axios, 3100 Clarendon B‌lvd, Arlington VA 22201   You received this email because you signed up for newsletters from Axios. Change your preferences or unsubscribe here.   Was this email forwarded to you? Sign up now to get Axios in your inbox.   Follow Axios on social media: