“The highest tariffs in almost a century haven’t caused inflation to surge. The phenomenon has puzzled economists, some of whom suspect that companies have so far simply been reluctant to pass along the extra costs to their customers,” the Wall Street Journal reports.
“But another argument for the limited impact is gaining traction: that tariffs being paid by importers are lower than advertised.”
“When President Donald Trump and President Vladimir Putin meet in Alaska on Friday, the Russian leader and former KGB officer will draw on decades of experience seeking to charm and manipulate foreign leaders as he tries to convince the American president he is open to peace,” the Washington Post reports.
“One of Putin’s most important tasks will be to use these skills to drive a wedge between the American president and Ukrainian President Volodymyr Zelensky and his supporters in Europe after they presented a united front Wednesday in support of a ceasefire and giving Kyiv a role in negotiations over its territory, Russian analysts said.”
“The nine law firms that promised President Trump they would perform about $1 billion in pro bono work on his favored causes have embraced broad interpretations of what they owe,” the Wall Street Journal reports.
“Several firms that struck the unprecedented deals have shrugged them off as unenforceable and have taken on little to no additional unpaid work, according to people familiar with the matter. They are hoping Trump has moved on.”
“Others are doing the math to classify the pro bono work they perform anyway to satisfy their commitments to the White House.”
“Rich Americans are spending at a higher rate this year — everyone else is basically slowing their roll,” Axios reports.
“New data makes clear that while the good times continue for higher-income earners — strong wage growth, less debt — lower-income Americans are under increasing financial stress.”
“President Donald Trump campaigned on an ‘America First’ policy that rejected the United States’ traditional role of global policeman. His first 200 days in office have said otherwise,” Politico reports.
“Trump is relishing his role as peacemaker in chief, according to a White House official granted anonymity to speak candidly about the president, believing he can make deals that have eluded his predecessors, showing simultaneously his acumen and his power – whether he’s successful or not.”
“President Donald Trump marked the 90th anniversary of Social Security on Thursday with an Oval Office signing of a proclamation that the safety net was ‘more resilient than ever before,’ thanks to him. He claimed improvements to the program’s customer service. He also misleadingly declared that he had checked off his campaign promise to eliminate taxes on benefits for seniors,” the Washington Post reports.
“But Social Security is barreling toward insolvency faster than before because of Trump’s tax bill and immigration policies.”
“House Speaker Mike Johnson’s (R-LA) right flank is trying to bypass him repeatedly next month by forcing votes on releasing the Epstein files and banning congressional stock trading,” Axios reports.
“The tool these lawmakers are planning to use — the discharge petition — has been the source of growing controversy in the House in recent years.”
“Independent Dan Osborn stunned the campaign world last year when he came within 7 points of unseating Republican Sen. Deb Fischer in ruby-red Nebraska. Now Osborn is back for another Senate campaign, joined by a handful of fellow independent Senate hopefuls across the map,” National Journal reports.
“Amid increasing unfavorability ratings for both political parties, four independent candidates are trying a different path. Idaho’s Todd Achilles, Mississippi’s Ty Pinkins, and South Dakota’s Brian Bengs—all three former Democrats—are following in Osborn’s 2024 footsteps as they challenge GOP incumbents in red states. All four are veterans who say they don’t intend to caucus with either Republicans or Democrats if elected.”
“President Trump has spent the week setting the bar extremely low for his high-stakes U.S.-Russian summit on Friday in Alaska. Hardly anyone expects him to make much progress in halting the fighting between Russia and Ukraine, given how far apart their views of the conflict are,” the New York Times reports.
“But those two warring countries do seem to agree on at least one thing. Merely meeting with Mr. Trump is a big win for President Vladimir Putin, bringing the Russian leader out of a diplomatic deep freeze and giving him a chance to cajole the American president face to face.”
“City officials and advocates warned people living in homeless camps to head to shelters or risk arrest in the federal sweeps that were expected to begin Thursday evening as part of President Trump’s takeover of law enforcement in the capital,” the New York Times reports.
Laura Loomer compared herself to a “zesty sauce” in an unearthed clip of a TV dating show, Mediaite reports.
Said Loomer: “I would be a zesty sauce because I would hit the spot; but then I would have you coming back for more later. And it would be a really wet sauce.”
“The Trump administration is in talks with Intel Corp. to have the US government potentially take a stake in the beleaguered chipmaker, helping support the company’s effort to expand domestic manufacturing,” Bloomberg reports.
“The deal would help shore up Intel’s planned factory hub in Ohio… The company had once promised to turn that site into the world’s largest chipmaking facility, though it’s been repeatedly delayed. The size of the potential stake isn’t clear.”
“A day ahead of the meeting between President Trump and President Vladimir Putin of Russia, the Kremlin on Thursday signaled that apart from Ukraine, it was also interested in discussing other subjects, like economic links and nuclear arms,” the New York Times reports.
“Remarks by Mr. Putin and his foreign policy aide highlighted how, when dealing with Washington, Moscow has tried to dilute discussions about ending the fighting in Ukraine by packaging them together with other bilateral issues. In particular, Russia has focused on the prospect of discussing arms control and restoring economic ties with the United States.”
“Texas Democrats gave their clearest signal yet on Thursday that they will soon return to the Lone Star state, after decamping to stop the passage of a redrawn congressional map that adds five new GOP-leaning seats,” Politico reports.
“A statement from the state House Democratic Caucus said that the lawmakers will return on two conditions, both of which are expected this week. First, that the Texas Legislature ends its first special session on Friday, and second that California lawmakers introduce their expected proposal that could offset the GOP gains in Texas.”
“A man who admitted throwing a sandwich at a federal law enforcement officer deployed in Washington, D.C., worked at the Justice Department and has been fired,” CBS News reports.
New York Times: “But within days, Mr. Long began to lose his grip on a job that he had held for barely a month. Treasury Secretary Scott Bessent had already ousted one White House-installed IRS commissioner this year. He would soon orchestrate the removal of another, culminating in the agency having its seventh leader since January.”
“At the center of Mr. Bessent’s concerns was the fact that Mr. Long had been trying to put together an independent plan for the IRS without informing the Treasury Department, according to five people familiar with the matter. But Mr. Long’s vision for the IRS had at least in part been shaped by Mr. Trump.”
“Secretary of Homeland Security Kristi Noem said Thursday that the U.S. now has 1.6 million fewer illegal immigrants since the start of the Trump administration – a claim based on information from a restrictionist immigration group that said their own estimate may be overstated,” The Hill reports.
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.
