A senior security official says Russia does not care about President Trump’s “theatrical ultimatum” about slapping sanctions on buyers of Russian exports unless Moscow agrees to a peace deal in Ukraine, USA Today reports.
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Falling In Line on Epstein
Brian Stelter: “Fox News has taken President Trump’s plea for his allies to stop talking about Jeffrey Epstein almost literally. The network didn’t mention Epstein at all yesterday until a panel discussion in Bret Baier’s 6 p.m. hour. Questions about the admin’s handling of the ‘files’ were totally absent from primetime, a stark contrast from last week.”
Mike Waltz Faces Brutal Confirmation Hearing
“Mike Waltz, the former national security adviser who left his position in May in the wake of the Signal chat controversy in March, will face a confirmation hearing Tuesday on Capitol Hill for his nomination as United Nations ambassador,” ABC News reports.
“Waltz came under intense scrutiny in March for inadvertently adding a journalist to a Signal chat with top Trump officials discussing a U.S. military strike on Houthi rebels in Yemen.”
Inflation Accelerated as Tariffs Pushed Up Prices
“Inflation accelerated in June as President Trump’s tariffs started to leave a bigger imprint on the economy, keeping the Federal Reserve on track to hold interest rates steady when policymakers next meet this month,” the New York Times reports.
“The Consumer Price Index rose 2.7 percent from a year ago, the swiftest pace since February… That is slightly higher than expected and is up from an annual pace of 2.4 percent in May.”
Wall Street Journal: “Many companies rushed to fill up their inventories by buying goods before tariffs took effect, making it easier for them to hold off on price increases in the spring.”
Cuomo Says He’ll Be Aggressive This Time
Former Gov. Andrew Cuomo (I) is preparing an audacious run for New York City mayor as an independent and is determined to go after Democratic nominee Zohan Mamdani (D) in a way he did not in the primary, New York Magazine reports.
Said Cuomo: “I never really debunked his proposals because I just didn’t engage. That was a mistake. I made a mistake.”
He added: “I was not as aggressive as I should be, which is really ironic because my whole life people have been saying about me, ‘Oh, he’s too aggressive, too combative, pushes too hard.’ And then in this campaign, it’s ‘I’m not aggressive enough,’ which is actually true. And it was just a mistake, and it’s not a mistake I’m going to make again.”
Bessent Says Powell Should Step Down in May
“Treasury Secretary Scott Bessent suggested that Federal Reserve Chair Jerome Powell should step down from the central bank’s board when his term as chair is up in May 2026,” Bloomberg reports.
Said Bessent: “Traditionally, the Fed chair also steps down as a governor. There’s been a lot of talk of a shadow Fed chair causing confusion in advance of his or her nomination. And I can tell you, I think it’d be very confusing for the market for a former Fed chair to stay on also.”
“Powell’s term as a Fed governor doesn’t end until January 2028, leaving it possible for him to remain at the central bank — and to participate in monetary policymaking — even after his tenure as the chair comes up next May.”
Trump Asked Zelensky If Ukraine Could Hit Moscow
President Trump asked Volodymyr Zelensky whether Ukraine could strike Moscow if provided with U.S. long-range weapons, the Financial Times reports.
Zelensky replied: “Absolutely. We can if you give us the weapons.”
Bloomberg: Trump lobs the Ukraine ball into Putin’s court.
Former Judges Oppose Emil Bove’s Nomination
“More than 75 former federal and state judges on Tuesday called on the Senate Judiciary Committee to reject the nomination of Emil Bove, President Donald Trump’s former personal attorney, to a prestigious appeals-court judgeship,” CNN reports.
From their letter: “Mr. Bove’s egregious record of mistreating law enforcement officers, abusing power, and disregarding the law itself disqualifies him for this position.”
Trump’s Approval Rating Hits Familiar Lows
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GOP Poll Shows Republicans Down Big in Battlegrounds
A new Fabrizio Ward (R) poll shows Republicans trailing on the generic ballot in 28 House battleground seats, including 15 where they won by five points or less in 2024.
“Among those most motivated to vote, an early indication of vote likelihood in the midterms, the Republican is down 7 points.”
Mike Johnson Builds Huge War Chest
Speaker Mike Johnson (R-LA) has raised more than $50 million for House Republicans this cycle, Punchbowl News reports.
Comer Used Digital Signature on Subpoenas
Rep. James Comer (R-KY) used a digital signature to send out letters and subpoena notices related to the investigation into Joe Biden’s use of an autopen, NBC News reports.
Trump’s Dueling Economic Realities Will Inevitably Collide
“President Trump seems to think financial markets are perfectly happy with his tariffs and open to his more aggressive approach, because stocks keep hitting all-time highs,” Axios reports.
“Meanwhile, financial markets think there’s absolutely no chance Trump will go ahead with the tariffs he’s threatened, and therefore… keep bidding assets up to all-time highs.”
“The two beliefs can’t co-exist for much longer, and the disconnect can’t end well, either.”
Wall Street Journal: Trump bets constantly shifting tariff strategy can remake global trade.
CNBC: Inflation report Tuesday should provide clues on the impact tariffs are having on prices.
MAGA’s Siege Mentality Shadows Trump’s ‘Golden Age’
“Suspicion is rippling through the MAGA movement, clouding a historic run of conservative victories meant to lay the foundation for President Trump’s ‘Golden Age,’” Axios reports.
“Even at the apex of power, MAGA’s populist base remains convinced that shadowy forces are working to unravel its every gain. Trump’s recent actions — especially his administration’s handling of the Jeffrey Epstein case — have only hardened those fears.”
Conspiracists Cultivated by Trump Turn on Him
New York Times: “The fallout is testing the power the president holds over his most loyal followers, the ones who have trusted him all along and who believed they would learn a whole lot more about the Epstein saga if they returned Mr. Trump to office.”
“It is entirely too soon to know what the revolt will mean or if and when it might sputter out, but the nature of it was stunning to behold. It was like a Möbius strip of paranoia and distrust: A political movement that galvanized and exploded around a conspiracy theory — lies about Barack Obama’s birthplace were central to Mr. Trump’s political rise — cannibalizing itself over the mother of all modern conspiracy theories.”
“And in a twist, Mr. Trump’s usual playbook for getting himself out of trouble seemed not to be working this time — in fact, it was only making his predicament worse.”
Axios: Trump administration faces GOP blowback in Congress over Jeffrey Epstein.
CNN: Trump flails as Epstein storm rages around his government.
Kyrsten Sinema’s Campaign Committee Keeps Spending
“In late April, the campaign committee of former Sen. Kyrsten Sinema made an odd expenditure, even by contemporary political standards: It dropped $352 at a self-described ‘naturally based wellness provider’ that provides chiropractic, massage and ‘shockwave therapy’ services from a shopping center in Cave Creek, Arizona,” NOTUS reports.
Europe Draws Up Retaliatory Tariffs for U.S. Goods
“The European Union is readying a fresh list of American products—ranging from aircraft to alcoholic beverages, coffee and medical devices—to hit with retaliatory tariffs if a trade deal isn’t reached by President Trump’s Aug. 1 deadline,” the Wall Street Journal reports.
“EU officials on Monday unveiled the list after Trump’s latest tariff threat over the weekend revived a debate in the bloc over whether it should fight back, and how forcefully, if the two sides can’t reach a deal.”
Epstein Saga Has Splintered Trump’s Movement
Politico: “The furor has centered on a new government review of the evidence surrounding the disgraced financier and convicted sex criminal Jeffrey Epstein, who died in federal prison in 2019 after being arrested on child sex trafficking charges. The unsigned report, released jointly by the FBI and Department of Justice last Monday, found no evidence of an incriminating “client list” or a wider blackmail ring surrounding Epstein, and it concluded the financier died by suicide in his prison cell. Those findings ran contrary to the numerous theories — many of them once endorsed by members of Trump’s own administration — that Epstein kept a list of the many powerful people to whom he supplied underage victims and was murdered as part of a far-reaching government conspiracy.”
“The report has sparked furious backlash from various parts of the MAGA coalition, much of it directed toward Attorney General Pam Bondi, who had promised a comprehensive account of the Epstein case, and FBI Director Kash Patel, who helped popularize various conspiracy theories surrounding the Epstein case before joining the administration. Even Trump has faced some heat from former allies and supporters.”
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