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Trump Can’t Pack the Federal Reserve Board Now

November 4, 2026 · 2:00 pm ET · Leave a Comment

“A recurring subplot of President Trump’s term has been a desire to replace Biden appointees to the powerful Federal Reserve Board of Governors — even ahead of their terms ending — with allies. That effort now looks dead in the water,” Axios reports.

“Even if Trump succeeds in his efforts to fire governor Lisa Cook, or to oust any of the other three Biden-era holdovers on the seven-member board, a Democratic Senate will likely block any replacements it views as insufficiently independent from the administration.”

Economy, White House

Another Bonus Quote of the Day

November 3, 2026 · 3:36 pm ET · Leave a Comment

“People’s standard of living is always dominant and always has been, and it’s never not going to be. But that doesn’t mean that people don’t care about somebody stealing.”

— Democratic strategist James Carville, quoted by the Wall Street Journal.

Corruption, Economy

Trump Says U.S. and Canada Close to Ending Trade War

November 2, 2026 · 2:33 pm ET · Leave a Comment

“President Trump said Sunday his administration and Canadian officials are close to reaching a deal to end their months-long trade dispute,” NewsNation reports.

Said Trump: “We have the concept of a very good deal with Canada.”

Economy, Foreign Affairs

Xi Challenges U.S. Control of the Oceans

November 2, 2026 · 5:02 am ET · Leave a Comment

Wall Street Journal: “For centuries, China was a continental force. Its sudden, historic emergence as one of the world’s top maritime powers is challenging the U.S. on a scale it hasn’t faced since World War II. “

“The transformation is driven in part by Chinese leader Xi Jinping’s conviction that the rise and fall of nations is linked inextricably to the oceans.”

Economy, Foreign Affairs

A Midterm Dominated by Concerns Over High Prices

November 1, 2026 · 6:02 am ET · Leave a Comment

“Financial concerns have been the most pressing issue for voters in four of the six previous midterm elections of this century. But with the war in Iran and tariffs driving up gas prices, inflation and mortgage rates, the worries feel deeper, more desperate and decidedly center stage in the final days of the hard-fought campaign that will decide control of Congress,” the New York Times reports.

“Democrats are hammering President Trump for starting a war with Iran and instituting tariffs that have driven up prices, while Republicans are insisting the fundamentals of the economy are stronger than before they took power two years ago. And polls show that pocketbook issues are once again top of mind for many voters.”

“If presidential elections are about a vision for the future, midterms give voters a chance to offer their verdict on a president, a Congress and, almost always, the nation’s economic health.”

2026 Campaign, Economy

Price of Drugs From Canada Set to Soar for Millions

October 31, 2026 · 2:36 pm ET · Leave a Comment

“Millions of Americans who buy cheap drugs from Canada could soon lose access when a customs rule goes into effect later this month, a change that has sparked opposition from Democrats and some Republicans with the cost of living a top issue for voters ahead of midterm elections,” the Associated Press reports.

“The rule applies to a swath of goods beyond drugs and is intended to collect tariffs and prevent illegal drugs from coming into the U.S. It comes as President Donald Trump has made lowering drug prices a top target in addressing soaring healthcare costs, and critics say the rule will hurt patients seeking affordable medicine.”

Economy, Foreign Affairs, Health Care

Trump Tells Voters It’s Better Than They Think

October 31, 2026 · 6:27 am ET · Leave a Comment

“American voters are stressed about the high cost of groceries, gas and housing, yet heading into the final weekend before the midterms, here’s President Donald Trump’s closing message: Everything is rosier than people say,” the Washington Post reports.

2026 Campaign, Economy, White House

Carney Says He Can Wait Out Trump for Trade Deal

October 31, 2026 · 5:52 am ET · Leave a Comment

“Canadian Prime Minister Mark Carney said Friday that if his government could not successfully negotiate a suitable trade pact with the Trump administration, he was prepared to wait for a new American president to close the deal,” Politico reports.

Economy, Foreign Affairs

Europe Braces for More Protests

October 30, 2026 · 11:13 am ET · Leave a Comment

“Thousands of people are expected to take to the streets in France, Germany and Italy on Friday and Saturday to protest high living costs, as frustration with governments expands across Europe,” Bloomberg reports.

“Police are also on alert in Spain for possible protests in central Madrid following a high-speed rail crash that killed 69 people on Wednesday.”

Economy, Foreign Affairs

U.S. Oil Industry Earned Over $130 Billion During Iran War

October 30, 2026 · 7:20 am ET · Leave a Comment

“The war with Iran has been very lucrative for American oil companies, which have earned more than $130 billion in profit as people pay much higher prices for gasoline, diesel and other fuel,” the New York Times reports.

“That is a conservative estimate based on the performance of more than 50 large U.S. oil and gas companies, most of them producers or refiners, in the six months from April through September. It does not reflect profits earned in March, the first month of the war, or in October.”

“These companies earned less than $47 billion collectively during the same period in 2025, a challenging stretch when oil was cheaper and companies were navigating the early fallout from President Trump’s trade war.”

Economy, Energy

High Prices Haunt Trump and the GOP

October 30, 2026 · 6:06 am ET · Leave a Comment

New York Times: “For Mr. Trump, that previous source of political strength now threatens to topple Republicans in 2026. The fate of the party’s control of Congress may well hinge on the depth of voters’ fury with the rising cost of living — and the president’s unmet promises to do something about it.”

“The concern among Republicans has been evident as Mr. Trump crisscrosses the country in an 11th-hour campaign sprint. He has tried to present the economy as strong, growing and rife with new investment, while downplaying the fact that inflation has clearly worsened under his party’s stewardship.”

2026 Campaign, Economy

Trump Promised Tariff Relief in Audi Talks

October 29, 2026 · 11:44 am ET · Leave a Comment

“The Trump administration has promised to ease tariffs on automakers that commit to more U.S. manufacturing, the Wall Street Journal reports.

The policy change emerged amid talks to get Audi to build a $4 billion assembly plant in Georgia.”

Economy, Foreign Affairs

U.S. Economy Grows Faster Than Expected

October 29, 2026 · 8:49 am ET · Leave a Comment

“The U.S. economy expanded in the third quarter at the fastest pace in a year, supercharged by feverish business investment and a resilient American consumer,” Bloomberg reports.

“Inflation-adjusted gross domestic product increased an annualized 3.4% in the three months through September after growing 2.2% in the second quarter, according to an initial estimate issued Thursday by the Bureau of Economic Analysis. The rise in GDP beat the 3.2% median projection in a Bloomberg survey of economists.”

Economy

Fed Leaves Rates Steady

October 28, 2026 · 2:27 pm ET · Leave a Comment

“The Federal Reserve elected to leave interest rates unchanged at a policy meeting that concluded Wednesday, with two officials dissenting — including Lisa Cook, the governor President Trump is seeking to fire,” Axios reports.

“Fed officials have signaled that while they may well raise interest rates again by year-end, they are in no hurry and prefer to move gradually and with more data in hand.”

Economy, White House

The GOP’s Farm Vote Problem

October 27, 2026 · 9:10 am ET · Leave a Comment

“Farmers are a key voting group for Republicans, but their votes could be on the line, with the Iran war and President Trump’s tariff and trade wars driving up production costs along with diesel and fertilizer prices,” NewsNation reports.

“The Trump administration has been rolling out financial assistance packages and projects for farmers in hopes of shoring up the electorate in next week’s midterm elections. Yet they may be right to be anxious about the voting bloc’s turnout.”

2026 Campaign, Economy, Foreign Affairs

Incomes Lag in 42 of 46 Swing Districts

October 27, 2026 · 6:14 am ET · Leave a Comment

Washington Post: “Incomes have not kept up with rising costs in 42 of the 46 most competitive midterm election districts. But the problem is marginally worse in Republican-held districts, according to Post analysis of family budget data between 2019 and 2024.”

”As voters decide which party can best rescue their chance at the American Dream, political experts say prolonged economic hardship is the defining feature influencing voters in the midterms.”

2026 Campaign, Economy

Trump Tariffs Test Republicans Ahead of Midterms

October 26, 2026 · 5:10 pm ET · Leave a Comment

“President Trump faces an uncomfortable political dilemma ahead of the impending midterm elections: how to stand by the tariffs at the heart of his economic agenda when Republican voters are less convinced of their benefits,” Axios reports.

“Since returning to the White House, Trump has moved more aggressively than any modern president to remake the global trading system, with sweeping tariffs at the center of that effort.”

2026 Campaign, Economy, Foreign Affairs

U.S. and Canada ‘Very Close’ to Tariff Deal

October 26, 2026 · 1:20 pm ET · Leave a Comment

“The U.S. and Canada are ‘very close’ to settling their tariff standoff, according to the White House,” the New York Post reports.

Said White House National Economic Council director Kevin Hassett: “The negotiations have picked up; they’re gathering steam.”

Economy, Foreign Affairs

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Taegan Goddard

Taegan Goddard

Taegan Goddard is the founder of Political Wire -- which for more than two decades has been one of the nation's most influential political news sites.

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