“Companies are starting to shift more tariff-related costs onto consumers,” the New York Times reports.
“Many businesses chose to absorb the additional tax during the early days of President Trump’s trade war. But evidence is emerging that they are running out of options to keep prices stable in the face of deteriorating profit margins, suggesting that the tariffs could have a more pronounced effect on prices in the months ahead.”
“There are many signs that the Democratic and Republican Parties are in different places. Here’s one: The main Republican presidential super PAC controls almost $200 million. The main Democratic presidential super PAC is still repaying millions of dollars it accepted from someone who is now a convicted felon,” the New York Times reports.
“Such is the state of big-dollar political fund-raising, as last night’s filings with the Federal Election Commission made clear. When it comes to attracting mega-donors, Republicans are crushing Democrats. That could mean a lot more ads for conservatives than for liberals in next year’s midterm elections.”
New York Times: “It also reveals how lobbyists, political consultants and others in the influence industry have capitalized on Mr. Trump’s aggressive fund-raising while in office to deliver for clients and earn chits with a president who keeps close tabs on who is delivering cash and listens to their appeals. It is a cycle that has helped Mr. Trump fill the coffers of his political groups, defying the gravity that sometimes drags down the fund-raising of term-limited presidents.”
“The degree to which this dynamic has benefited Mr. Trump, his donors and their lobbyists — while shutting out regular people seeking assistance from their government — was laid bare in MAGA Inc.’s financial report. The group, which can accept unlimited donations, raised an astounding $177 million in the first half of the year. That was nearly twice as much as the amount raised during the same period by the Republican National Committee, which is subject to contribution limits.”
New York Times: “A capitulating Congress had passed his signature domestic policy legislation, despite concerns over its deep cuts to the social safety net. The European Union caved to Mr. Trump and his threat of tariffs by announcing a trade deal during the president’s trip to Scotland. Emboldened, Mr. Trump moved ahead with sweeping tariffs that could reshape the world economy.”
“But on Friday, Mr. Trump, confronted with foes and facts that he could not easily control, displayed another side of himself, responding with disproportionate intensity and a distinct impatience.”
“His actions were part of a pattern in which he has shown growing intolerance toward those who will not bend to his will.”
“Defense Secretary Pete Hegseth’s string of missteps has spurred infighting inside the Pentagon and raised concerns among some Republicans on Capitol Hill about his ability to run the department,” the Wall Street Journal reports.
“The problems are rooted in Hegseth’s lack of managerial experience in overseeing an entity anywhere near as large as the Pentagon, which employs around 3.4 million people on a budget now approaching $1 trillion.”
“White House officials were frustrated by Hegseth’s refusal to part with his acting chief of staff despite their misgivings about the aide’s qualifications… Some blame poor Pentagon staffwork for leaving Trump in the dark about a pause in some weapons deliveries for Ukraine… Hegseth has feuded with top generals and fired three senior aides that were well-liked at the White House.”
The family of Virginia Giuffre and other accusers of Jeffrey Epstein expressed “outrage” over Ghislaine Maxwell’s move to a minimum security prison in Texas Friday, calling it “a cover up,” Axios reports.
Glassdoor has been tracking declining “employee confidence” all year.
In May and June, it hit record lows — with a sinking share of workers reporting a positive business outlook for their employer.
Axios: Turns out the vibes were actually right this time.
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House Oversight Chair James Comer (R-KY) said the scheduled congressional deposition of Ghislaine Maxwell, a co-conspirator of convicted sex offender Jeffrey Epstein, is indefinitely postponed, Politico reports.
“Federal Reserve governor Adriana Kugler is unexpectedly stepping down early from the central bank’s powerful board of governors, creating an early vacancy that will give President Donald Trump an early opportunity to shape the Fed’s leadership,” the Washington Post reports.
David Frum: “OK, maybe Trump wants to lie about job numbers, his golf scores, and the historical fact of his two impeachments… but his word is totally solid on the total innocence of his long intimate friendship with America’s most notorious sex offender.”
“The crypto industry has donated more than $26 million to President Trump this year,” Axios reports.
“The massive infusion underscores how Trump and the crypto industry have been cozying up to one another.”
The Wrap: “Rupert Murdoch has no professional mountains left to climb, but part of the 94-year-old media baron’s last act could be unexpected: Becoming one of the few moguls to stand up to President Donald Trump.”
“That conflict — with Murdoch taking on Trump via The Wall Street Journal’s coverage of the Epstein files — might come as a surprise to some, although longtime Murdoch observers insist that it shouldn’t.”
Allison Gill reports that someone at the Bureau of Prisons waived Ghislaine Maxwell’s sex offender status in order to transfer her to a minimum security prison in Texas.
President Trump announced he’s firing the head of the Bureau of Labor Statistics, pointing to today’s downward revisions in employment numbers.
Said Trump: “I have directed my Team to fire this Biden Political Appointee, IMMEDIATELY. She will be replaced with someone much more competent and qualified.”
Paul Krugman: “And just like that, we can no longer treat BLS data as the gold standard.”
Patrick Ruffini writes that iOS 26 “will move calls and texts outside of a sender’s close contacts to an unknown senders tab. Many will welcome this as a way to fight spam.”
“But a big unintended consequence of this will be to make it harder for pollsters to reach a representative sample of Americans.”
“President Trump said Friday that he’d ordered two nuclear submarines close to Russian waters in response to nuclear bluster from former Russian President Dmitry Medvedev,” Axios reports.
“It’s the first military step Trump has taken, in public at least, to deter Russia since returning to the White House.”
Trump said on Truth Social he was taking that action “just in case these foolish and inflammatory statements are more than just that. Words are very important, and can often lead to unintended consequences, I hope this will not be one of those instances.”
Taegan Goddard is the founder of Political Wire, one of the earliest and most influential political web sites. He also runs Political Job Hunt, Electoral Vote Map and the Political Dictionary.
Goddard spent more than a decade as managing director and chief operating officer of a prominent investment firm in New York City. Previously, he was a policy adviser to a U.S. Senator and Governor.
Goddard is also co-author of You Won - Now What? (Scribner, 1998), a political management book hailed by prominent journalists and politicians from both parties. In addition, Goddard's essays on politics and public policy have appeared in dozens of newspapers across the country.
Goddard earned degrees from Vassar College and Harvard University. He lives in New York with his wife and three sons.
Goddard is the owner of Goddard Media LLC.