⚖️ Axios PM: Biden's "boundless love"

Plus: Before-and-after Detroit photos | Monday, June 03, 2024

Open in app View in browser   Presented By Amazon   Axios PM By Mike Allen · Jun 03, 2024 Good afternoon and happy Pride. Today's newsletter, edited by Alex Fitzpatrick, is 497 words, a 2-min. read. Thanks to Sheryl Miller for copy editing.     1 big thing: "I love our son" President Biden and Hunter Biden. Photos: Chip Somodevilla/Getty Images, Graeme Sloan/Bloomberg   President Biden said he has "boundless love for [his] son, confidence in him, and respect for his strength," as jury selection began in Hunter Biden's criminal trial. Why it matters: Republicans want to focus on the case in an attempt to draw attention from former President Trump's convictions, Axios' Alex Thompson reports from the trial in Wilmington, Delaware. "I am the President, but I am also a Dad. Jill and I love our son, and we are so proud of the man he is today," Biden said in a statement. "Our family has been through a lot together, and Jill and I are going to continue to be there for Hunter and our family with our love and support." Several of Hunter's family members were in court with him today, including First Lady Jill Biden and his sister Ashley Biden. The charges against Hunter carry a maximum sentence of 25 years in prison. Go deeper.     2. "Vibecession" summer Illustration: Natalie Peeples/Axios   There's a word for today's divide between Americans' financial sentiment and economic reality, Axios Markets' Emily Peck writes: "Vibecession." "I think we are in one now more than ever, and I think it will get worse in the election," says Kyla Scanlon, who coined the term and is the author of the new book, "In This Economy?" Economists will long be trying to figure out why people feel gloomy despite good big-picture data. Some of the explanations so far: Prices and inflation. People don't like higher prices. Higher wages don't seem to help. Economic inequality. The economy may be "humming along" because of affluent people's income and spending — but most families could still feel they're languishing, David Kelly, chief global strategist at J.P. Morgan Asset Management, wrote in a recent note. Media coverage. "Economic statistics are rarely covered while the public is increasingly bombarded with a long string of stories to be worried or angry about," Kelly writes. Go deeper.     A message from Amazon "Amazon was a major turning point in our growth"     Lisa-Jae and Kammy took their business beyond their hometown of East Hampton, New York using Amazon tools. "Amazon tools helped us find more customers." More info: More than 60% of sales in Amazon's store come from independent sellers, most of which are small to medium-sized businesses. See more.     3. Catch me up Texas National Guard soldiers install border fencing layered with concertina wire near the Rio Grande River in El Paso, Texas, in April. Photo: Brandon Bell/Getty Images   Mayors from Southwest border cities have been invited to a White House event tomorrow, where President Biden is expected to announce a sweeping executive action on illegal crossings. Go deeper. A billionaire crypto investor and his software firm are paying an unprecedented $40 million to settle D.C. tax fraud charges, Axios D.C. co-author Cuneyt Dil reports. Russian propagandists are targeting this summer's Olympics in Paris, Microsoft says. Go deeper.     4. 📸 1 for the road Exterior of Michigan Central Station before and after restoration. Photos: Stephen McGee/Michigan Central Today was the long-awaited reveal of Michigan Central Station's dramatic restoration to its pristine past, Axios Detroit co-author Joe Guillen reports. Why it matters: The station's transformation from a battered reminder of Detroit's decline into a monument of civic pride is a historic achievement. Interior of Michigan Central Station before and after restoration. Photos: Stephen McGee/Michigan Central Michigan Central opened in 1913, and ridership peaked in the 1940s. The station closed in 1988 following a long decline in train travel. Ford Motor Company bought it in 2018 to become part of a transportation innovation hub. Go deeper ... Get Axios Local.     A message from Amazon Cleveland beverage company gives local kids a chance to play     "The more we're able to grow our business with Amazon, the more we're able to give back to our community," says Brandon Smith, co-founder of NOOMA. Key number: More than 60% of sales in Amazon's store come from independent sellers, including local businesses like NOOMA. Find out more.   Are you a fan of this email format? Your essential communications — to staff, clients and other stakeholders — can have the same style. Axios HQ, a powerful platform, will help you do it.   Axios thanks our partners for supporting our newsletters. Sponsorship has no influence on editorial content. 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