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AXIOS (Josephine Walker) - California Gov. Newsom says he's under investigation by the Justice Department

California Gov. Gavin Newsom said Monday that the Department of Justice has opened an investigation into him. Why it matters: Newsom alleged in a video that the DOJ is going after him at President Trump's direction because he's "considering running for president." The big picture: The apparent probe would be the latest example of a political adversary of the president alleging that Trump has "weaponized " the DOJ to target his enemies. Editor's note: This is a breaking news story. Please check back for updates.

California Gov. Gavin Newsom said Monday that the Department of Justice has opened an investigation into him. Why it matters: Newsom alleged in a video that the DOJ is going after him at President Trump's direction because he's "considering running for president." The big picture: The apparent probe would be the latest example of a political adversary of the president alleging that Trump has "weaponized " the DOJ to target his enemies. Editor's note: This is a breaking news story. Please check back for updates.Open

AXIOS (Courtenay Brown) - What a U.S.-Iran peace deal could mean for energy, inflation

The prospect of a reopened Strait of Hormuz and a pending U.S.-Iran peace deal could help ease the big inflation risk hanging over Kevin Warsh 's first Federal Reserve meeting as chairman. - "Ships are starting to move, many loaded up with Oil, out of the Strait of Hormuz," President Trump said Monday morning in a post on Truth Social . Friction point: Lingering disruptions to shipments of oil, fertilizer and other industrial inputs could keep inflation concerns alive at the Fed. What they're saying: "Sailing through the strait will remain riskier and more costly than before the war," Oxford Economics' Ben May wrote in a note Monday morning. - May noted that damage from underwater mines or a sudden re-escalation of the conflict will keep…

The prospect of a reopened Strait of Hormuz and a pending U.S.-Iran peace deal could help ease the big inflation risk hanging over Kevin Warsh 's first Federal Reserve meeting as chairman. - "Ships are starting to move, many loaded up with Oil, out of the Strait of Hormuz," President Trump said Monday morning in a post on Truth Social . Friction point: Lingering disruptions to shipments of oil, fertilizer and other industrial inputs could keep inflation concerns alive at the Fed. What they're saying: "Sailing through the strait will remain riskier and more costly than before the war," Oxford Economics' Ben May wrote in a note Monday morning. - May noted that damage from underwater mines or a sudden re-escalation of the conflict will keep…Open