Thursday, March 10, 2022

🥁 Axios PM: Double-digit inflation risk

Plus: McConnell opens vault | Thursday, March 10, 2022
 
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Axios PM
By Mike Allen ·Mar 10, 2022

Good Thursday afternoon: Today's PM — edited by Justin Green — is 568 words, a 2-minute read.

⚾️ Bulletin: Baseball is (tentatively) back. Players voted to accept MLB's latest offer, paving the way to salvage a 162-game regular season. Go deeper.

 
 
1 big thing: McConnell opens the vault

Photo illustration: Sarah Grillo/Axios. Photo: Kevin Dietsch/Getty Images

 

Senate Minority Leader Mitch McConnell (R-Ky.), one of America's most inscrutable power players, has made the surprising decision to open his archive to a journalist and sit for long interviews.

  • Why it matters: McConnell's signature has been to keep his counsel and hide his emotions — rarely showing his hand or sharing his mind, as he outfoxed opponents, generation after generation.

Mike Tackett — AP's deputy Washington bureau chief and a former New York Times political reporter — has signed to write a McConnell biography, "The Price of Power," for Simon & Schuster.

  • I'm told Tackett has been granted extensive interviews with McConnell and access to his vast archive — his receipts.

The trove includes everything from childhood mementos to official papers. Tackett has begun the interviews.

The book, from powerhouse editor Priscilla Painton, is billed as a deep dive on "one of the most guarded and powerful actors in the nation's capital ... one of the most consequential political figures of this century."

  • No publication date is set — it's likely years away.

Between the lines: The wily McConnell — who would become majority leader if, as is quite possible, Republicans win the Senate back in November — is clearly thinking about his legacy.

  • In 2016, McConnell — who turned 80 last month — published an autobiography with an incredibly apt title: "The Long Game."

Tackett told me he'll explore: "How is it with all the turmoil in the Republican Party— from the Tea Party through the Trump era, a period that saw two House Speakers step aside — that McConnell has retained his power and authority in the Republican Party?"

  • "Unlike many other Senate leaders — Howard Baker, Bob Dole, even Bill Frist — McConnell never wanted any higher position than the one he has."

Go deeper.

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2. Double-digit inflation risk

Illustration: Aïda Amer/Axios

 

The commodity price spike caused by the war in Ukraine has increased the risks of a recession, sustained high inflation, or both, reports Axios Capital author Neil Irwin.

The big picture: It's pretty much a mathematical certainty that inflation rates will be higher in the months ahead rather than lower.

  • Will year-over-year headline inflation hit double digits? Quite plausibly. That leaves the Fed between a rock and a hard place.

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A message from Amazon

"This is the first time in my life I've only had to have one job"
 
 

A reliable and bigger paycheck helps Amazon employees like Mary Kate enjoy a better work-life balance.

"Now I have this great job that pays me enough, and I can do the things that I really love," says Mary Kate.

Amazon employees have seen the difference of earning a starting wage of at least $15 an hour.

 
 
3. Catch up quick

Jesper Pedersen of Team Norway competes during the Men's Giant Slalom Sitting on day six of the Beijing Winter Paralympics. Photo: Alexander Hassenstein/Getty Images

 
  1. Ukrainian athletes and officials called for peace during a protest at the athletes village of the Winter Paralympic Games in China.
  2. TSA extended the mask mandate on planes, buses and trains by another 30 days.
  3. JPMorgan Chase and Goldman Sachs will exit operations in Russia. Go deeper.
  4. 📚 First look: MSNBC's Chris Hayes plans a book in early 2024, "The Sirens' Call," which publisher Penguin Press calls a "big-picture reckoning with how our inner lives have come under assault in the unprecedented new age of attention capitalism." Go deeper.
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4. 🐓 New Chipotle chicken option
photo of the pollo asado chicken

Image: Chipotle Mexican Grill

 

Pollo asado is a limited-release protein coming to Chipotle.

  • Why it matters: Chipotle's adobo chicken is its most popular — and cheapest — meat.

The dish consists of grilled chicken flavored with garlic, fresh lime, guajillo peppers and hand-chopped cilantro, CNBC reports.

  • Pollo asado adds about 65¢ to the price of a bowl or burrito.

Read the release.

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A message from Amazon

"Amazon's health benefits start the day you sign on the dotted line"
 
 

Shortly after starting at Amazon, Carlton found out he had stage four prostate cancer. Getting health care benefits starting on day one helped him receive the care he needed.

Why it's important: Health care starts for Amazon employees and their families on day one.

Learn about Carlton's story.

 
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