Red downward arrow in front of house. Illustration of the concept of falling prices of real estate properties.

The Quality Of Literally Everything Is Declining. I’m Investigating To Find Out Why

Corporations

cost of living

Culture

Entertainment

Food

Housing

Inflation

Matt Walsh

Opinion

As President Donald Trump focuses his energy on bringing food costs back down, he&#8217;s taking his messaging to the people who serve food to millions of Americans for a living each day: McDonald&#8217;s franchise owners, operators, and suppliers.
Trump is set to address an audience of McDonald&#8217;s franchisees in Washington, D.C., on Monday evening as the White House does a full-court press on economic issues, Axios <a href="https://www.axios.com/2025/11/17/trump-affordability-mcdonalds-summit">reported</a>.
&#8220;The Biden administration started the affordability crisis, but President Trump will end it so all Americans can achieve economic prosperity,&#8221; a White House official told Axios.
Trump is scheduled to speak at 6:00 p.m. ET. The &#8220;Impact Summit&#8221; will also <a href="https://foxbaltimore.com/news/nation-world/trump-to-speak-on-affordability-at-mcdonalds-impact-summit-french-fries-wes-moore-kathy-hochul-rahm-emanuel-rep-pete-aguilar-washington-dc-one-big-beautiful-bill-economy">feature</a> a slate of Democratic speakers, including New York Governor Kathy Hochul, Maryland Governor Wes Moore, Rep. Pete Aguilar (D-CA), and former Chicago Mayor Rahm Emanuel. It&#8217;s a venue where Republicans and the Trump administration want to make their presence known as the economy comes back to the forefront of the political conversation.
The summit will give Trump a chance to double down on his administration&#8217;s efforts to address the economy and food prices. McDonald&#8217;s CEO Chris Kempczinski warned earlier this month that inflation was continuing to place &#8220;pressure on the industry.&#8221;
&#8220;It&#8217;s still a difficult environment, and inflation is proving to be sticky,&#8221; Kempczinski said, according to <a href="https://www.foxbusiness.com/retail/mcdonalds-ceo-warns-rising-beef-prices-remain-challenge-inflation-stays-sticky">Fox Business</a>. &#8220;I mean, we&#8217;re expecting to see there&#8217;s going to be above-average inflation next year. … We&#8217;re seeing very, very high inflation around beef prices versus what we&#8217;re used to historically, and so I think all of that just keeps putting pressure on the industry.&#8221;
McDonald&#8217;s executives have said that higher overhead costs have forced the company to raise prices, which has driven away many low-income customers.
Year-over-year <a href="https://www.bls.gov/charts/consumer-price-index/consumer-price-index-by-category-line-chart.htm">inflation</a> has gone down from where it stood during most of former President Joe Biden&#8217;s term, but has hovered around 3% during the first eight months of Trump&#8217;s second term. McDonald&#8217;s prices have also risen in recent months, with the average price of the chain&#8217;s signature Big Mac <a href="https://www.reuters.com/world/us/trump-talk-up-economy-meeting-with-mcdonalds-owners-operators-2025-11-17/">jumping</a> to $6.01 as of July, which was up from $5.69 at the same time last year, according to The Economist&#8217;s &#8220;<a href="https://www.economist.com/interactive/big-mac-index">Big Mac Index</a>.&#8221;
Ground beef, overall, has risen 13.5% from last year, according to the Bureau of Labor Statistics. Trump has argued that high food prices are leftover effects from the Biden administration, which saw inflation rise to 9.1% in June 2022.
The Trump administration has taken more steps recently to address high prices and point out where prices have fallen.
&#8220;Since Day One, the Trump Administration has been on a mission to tame Biden’s inflation crisis, stop the sky-high Biden price increases, and lower costs for everyday families — and while it can’t happen overnight, evidence shows the trend is in the right direction,&#8221; the White House <a href="https://www.whitehouse.gov/articles/2025/11/were-making-big-progress-on-prices-and-well-keep-working-to-make-sure-everyone-benefits/">said</a> on Friday.
Trump also removed tariffs on hundreds of food imports on Friday, marking a major pivot in the president’s trade strategy. Trump&#8217;s tariff rollback is aimed at lowering prices for Americans and will apply to food items that are not grown or produced in the United States in “sufficient quantities,” including beef, coffee, tea, bananas, oranges, tomatoes, and tropical fruits and fruit juices.
McDonald&#8217;s is a personal favorite of Trump&#8217;s. The president made a pit stop at a McDonald&#8217;s location in Pennsylvania during the 2024 campaign, where he ran the fry cooker and served food to customers. He has also served McDonald&#8217;s food to special guests in the White House.

Donald Trump

Trump To Address McDonald’s Franchise Owners As He Focuses On Driving Down Food Costs

Economics

Economy

McDonald’s

Politics

President Trump brokers several monumental deals in Asia, the U.S. ramps up its military presence in the Caribbean, and we get an expert opinion on the state of the Trump economy.
It’s Monday, October 27, 2025, and this is the news you need to know to start your day. Today’s edition of the Morning Wire podcast can be heard below, and <a href="https://www.dailywire.com/episode/mrn-251027-member-exclusive">the video version can be seen on The Daily Wire</a>:
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<h2 style="text-align: center;">Trump Strikes Trade Deals In Asia</h2>
<div class="image"><img loading="lazy" decoding="async" class="alignnone size-large wp-image-991431" src="https://dw-wp-production.imgix.net/2025/10/Trumps-Trade-Tour-1024x576.jpg" alt="" width="1024" height="576" srcset="https://dw-wp-production.imgix.net/2025/10/Trumps-Trade-Tour-1024x576.jpg 1024w, https://dw-wp-production.imgix.net/2025/10/Trumps-Trade-Tour-300x169.jpg 300w, https://dw-wp-production.imgix.net/2025/10/Trumps-Trade-Tour-768x432.jpg 768w, https://dw-wp-production.imgix.net/2025/10/Trumps-Trade-Tour-1536x864.jpg 1536w, https://dw-wp-production.imgix.net/2025/10/Trumps-Trade-Tour.jpg 1920w" sizes=" (max-width: 1024px) 100vw, 1024px" /></div>
Topline: President Trump landed in Asia on Sunday to kick off a whirlwind diplomatic tour aimed at securing new trade deals and peace treaties.
Trump arrived in Malaysia, the first stop on his tour of South Asia, which will also include visits to Japan and South Korea.
The main goal of the trip is to lock down more trade deals and open up access to Asian markets. Within hours of his arrival in Malaysia, the president announced new trade agreements with Thailand, Malaysia, and Cambodia. Each country will eliminate the vast majority of existing tariffs on U.S. imports, and the latter two will allow for unprecedented American investments in rare earth mineral production.
While this trip was focused on trade, the president also signed a ceasefire deal between Cambodia and Thailand, two longtime foes who were on the brink of war this summer after fighting broke out over a border dispute. Under this new agreement, the two sides will pull back military forces from the border and exchange POWs.
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“I love doing it. I shouldn’t say it’s a hobby, because it’s so much more serious than a hobby — but it’s something that I’m good at and it’s something I love to do,” <a href="https://x.com/clashreport/status/1982325118300004784">said</a> Trump.
Meeting Xi: This trip will be defined by Trump’s sit-down with Chinese leader Xi Jinping. The two will meet face-to-face on Thursday for the first time since 2019. Ahead of that high-stakes showdown, Trump expressed optimism regarding a “comprehensive deal” that could end the tit-for-tat trade war that’s lasted all year and resulted in unprecedented tariff rates exceeding 100%.
Ahead of that sit-down, officials from both sides have been meeting virtually non-stop this week to hammer out the framework for a potential deal. Beijing says a “basic consensus” has been reached and that the two sides “engaged in candid, in-depth, and constructive exchanges.”
<h2 style="text-align: center;">Trump’s Moves Against Drug Trade In South America</h2>
<div class="image"><img loading="lazy" decoding="async" class="alignnone size-large wp-image-991433" src="https://dw-wp-production.imgix.net/2025/10/Carriers-To-The-Caribbean-1024x576.jpg" alt="" width="1024" height="576" srcset="https://dw-wp-production.imgix.net/2025/10/Carriers-To-The-Caribbean-1024x576.jpg 1024w, https://dw-wp-production.imgix.net/2025/10/Carriers-To-The-Caribbean-300x169.jpg 300w, https://dw-wp-production.imgix.net/2025/10/Carriers-To-The-Caribbean-768x432.jpg 768w, https://dw-wp-production.imgix.net/2025/10/Carriers-To-The-Caribbean-1536x864.jpg 1536w, https://dw-wp-production.imgix.net/2025/10/Carriers-To-The-Caribbean.jpg 1920w" sizes=" (max-width: 1024px) 100vw, 1024px" /></div>
Topline: President Trump ordered the most advanced U.S. aircraft carrier group to the Caribbean last week as he floated the possibility of strikes against drug cartels on land. And the Trump administration placed sanctions on the president of Colombia as tensions continue to rise with the erstwhile U.S. ally.
Venezuela: President Trump moved the USS Gerald R Ford carrier group to join the forces already stationed in the Caribbean. The Ford carrier group is the largest in the U.S. military, so this is an aggressive signal from the president that he isn’t satisfied with a few drug boats blown up here and there.
South Carolina Senator Lindsey Graham appeared on CBS’ &#8220;Face The Nation&#8221; on Sunday and said he had spoken to President Trump about potential land strikes in South America.
“I think that’s a real possibility,” <a href="https://x.com/FaceTheNation/status/1982479665525613037">said</a> Graham. “I think President Trump has made a decision that Maduro, the leader of Venezuela, is an indicted drug trafficker, that it’s time for him to go, that Venezuela and Colombia have been safe havens for narco-terrorists for too long.”
Venezuelan Dictator Nicolas Maduro said last week that there are 5,000 Russian-made anti-aircraft missiles stationed around the country to defend the airspace. He also said that “millions of men and women with rifles would march across the country” if the United States were to attack on Venezuelan soil.
Colombia: Treasury Secretary Scott Bessent announced sanctions on Colombian President Gustavo Petro and his family on Friday. Bessent said in a statement that Petro “has allowed drug cartels to flourish and refused to stop this activity.”
Colombian officials have pushed back, pointing to continued interdiction of cocaine &#8212; but the country’s coca fields have grown continuously since Petro took power in 2022. Trump’s moves against Colombia have received support from Republicans representing sizable communities of Colombian Americans.
“Colombia is once again the number one producer of coke in the world. Colombians don&#8217;t deserve that,” <a href="https://x.com/RepMariaSalazar/status/1982503947744243931">said</a> Florida Rep. Maria Elvira Salazar. “President Trump has a responsibility to stop drugs coming into this country.”
<h2 style="text-align: center;">E.J. Antoni On Inflation and Trump’s Trade Deals</h2>
<div class="image"><img loading="lazy" decoding="async" class="alignnone size-large wp-image-991435" src="https://dw-wp-production.imgix.net/2025/10/Growth-Without-Gimmicks-1024x576.jpg" alt="" width="1024" height="576" srcset="https://dw-wp-production.imgix.net/2025/10/Growth-Without-Gimmicks-1024x576.jpg 1024w, https://dw-wp-production.imgix.net/2025/10/Growth-Without-Gimmicks-300x169.jpg 300w, https://dw-wp-production.imgix.net/2025/10/Growth-Without-Gimmicks-768x432.jpg 768w, https://dw-wp-production.imgix.net/2025/10/Growth-Without-Gimmicks-1536x864.jpg 1536w, https://dw-wp-production.imgix.net/2025/10/Growth-Without-Gimmicks.jpg 1920w" sizes=" (max-width: 1024px) 100vw, 1024px" /></div>
Topline: The latest economic report shows inflation slightly cooler than experts predicted at 0.3% rather than the predicted 0.4%. The White House is touting the numbers as yet more proof that Trump’s economic plan is working.
Morning Wire spoke with economist E.J. Antoni of the Heritage Foundation. (The following transcript has been lightly edited for clarity.)
Morning Wire: First, big picture – we&#8217;re nine months into Trump&#8217;s second term. How is the economy doing?
Antoni: I&#8217;d say the best way to describe it is that it&#8217;s in the midst of a transition, right? For basically the last two years of the Biden administration, you had a labor market that was being propped up in a lot of ways by government hiring. That&#8217;s gone away. In fact, it&#8217;s been replaced with government firings. And the result of that is a drag on the overall jobs numbers, right? In the same way, when you look at something like the way we measure the economy through gross domestic product or GDP, you had government purchases which were accounting for a very large percentage of that. That&#8217;s all gone away. In fact, it&#8217;s been replaced by a reduction in those government purchases, which is a drag on the headline number. What I&#8217;m trying to get at here is, as the government re-privatizes, as the Treasury Secretary says, you will see what looks like sluggish growth – which I think we&#8217;re in right now – but in reality is actually a returning to health. It&#8217;s almost like the chemotherapy that makes you feel really lousy, but gets rid of your cancer.
Morning Wire: The inflation numbers were a little bit cooler than projected. How do you feel about the state of inflation right now?
Antoni: Pretty good, especially since the number one driver of inflation in that CPI report for the month of September was gasoline prices going up so much, except that increase has completely reversed in the first three weeks of October. Now, prices are actually slightly lower than they were in most markets. We should expect the next CPI report – if we can even get it, it&#8217;s unclear because the government shut down – but if we could get it, we would expect even cooler CPI numbers.
Morning Wire: Treasury data show the tariff collection has really surged in recent months. What is the net effect of Trump&#8217;s tariff plan thus far in the economy? Are they working as advertised?
Antoni: Well, I guess it depends on how we want to say as advertised, right? … But here are the facts. They&#8217;re bringing in way more revenue than anticipated to the Treasury. We can certainly have a debate over who is paying for those tariffs. But, the fact is they&#8217;re bringing in billions of dollars in revenue, in fact, hundreds of billions of dollars when you annualize it. That&#8217;s one of the reasons why September had the biggest surplus ever for the month of September in terms of the Treasury monthly statement. It was because not only have we seen a reduction in overall government spending, but an increase in revenues, overall revenues of course, because the economy&#8217;s growing, but also specifically from customs duties, which are from the increase in tariffs.
Morning Wire: Is the reshoring effect — like Stellantis moving some production to the U.S. — is that a real trend or just a few isolated incidents?
Antoni: It’s certainly a real trend, but it is being blunted to a certain extent right now. You are seeing help to the manufacturing sector, and that some of it is being re-shored. But you&#8217;re also seeing, at least in the short term, some pain inflicted on manufacturing because, again, some of the things being tariffed are actually inputs. You&#8217;re making it more expensive, let&#8217;s say, for a car manufacturer to buy steel from abroad for the time being. Now, once that steel gets re-shored back to the United States and you can buy it domestically, then it&#8217;s a moot point, right? But at least for the time being, you&#8217;re having competing effects there where one is helping, the other is hurting.
Morning Wire: Final question, we&#8217;re about to wrap up the year with a couple months left here. What do you project to happen big-picture with the economy over the next few months?
Antoni: I think we&#8217;re going to continue to see some of these very positive trends with economic growth where, although the public sector, the government is shrinking, we&#8217;re going to continue to see growth in the productive private sector. And in particular, one of the reasons why I&#8217;m so optimistic here is that the growth we have seen thus far this year, which I think will continue, has been driven by increases in earnings, not simply increases in debt. … Their money is going further because earnings growth is outpacing inflation. That&#8217;s a very positive development.

MRN-251027-Thumb-V1

Morning Brief: Trump’s Asia Blitz & Military Build-Up In The Caribbean

Cambodia

China

Colombia

Lindsey Graham

Morning Wire

Tariffs

Thailand

Venezuela

Xi Jinping

It’s Friday, and we finally have inflation numbers.
The <a href="https://www.bls.gov/news.release/archives/cpi_10242025.htm">report</a> showed that inflation came in cooler than expected at 0.3% versus a forecast of 0.4%. The U.S. Bureau of Labor Statistics (BLS) completed the report nine days past the due date and five days before the Federal Open Market Committee’s (FOMC) decision.
In a <a href="https://www.whitehouse.gov/articles/2025/10/inflation-remains-low-as-democrat-shutdown-threatens-progress/">statement</a> released today, Karoline Leavitt said, “Under President Trump, America is back &#8211; but inflation is not.” 
Normally, the BLS releases the Consumer Price Index (CPI) report around the middle of the month, typically in the middle of the week. But America’s not in a normal situation, as today is the 24th day of the government shutdown.
To get the inflation numbers from the <a href="https://www.bls.gov/news.release/archives/cpi_10242025.htm">Social Security Administration</a> (SSA), the Department of Labor brought back furloughed employees to complete September’s CPI report. The Social Security Administration uses CPI as a benchmark for cost-of-living adjustments when issuing benefit checks. The SSA needed September’s numbers.
The FOMC decision will be based on the analysis of September&#8217;s CPI report. However, the looming FOMC decision wasn’t enough on its own to bring back the furloughed employees. And the Social Security Administration’s need for the numbers most likely won’t be enough to get a report generated for October. 
Every month, the BLS dispatches staff to collect price data for everyday goods. Before the shutdown, they had already done their “field work” for September, allowing the Bureau of Labor Statistics to finalize the report. Since the lapse in appropriations, employees were not dispatched to gather data for October.    
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This month, the main driver of inflation was gasoline, which rose 4.1%. In times of high global tensions and uncertainty, this index typically increases. Wars and sanctions, or even the fear of them, can drive up gas demand, often raising prices. Sanctions and international conflict have the potential to cause shortages and supply shocks, sending the price of gasoline skyward. 
On Thursday, the Department of the Treasury’s Office of Foreign Assets Control <a href="https://home.treasury.gov/news/press-releases/sb0290">expanded sanctions</a> on Russia’s two largest oil companies. The effects of those sanctions will appear in the next report that the Bureau of Labor Statistics provides. 
Energy also rose 1.5%. In most years, energy typically falls as the cooler months approach. However, America is not in a normal year for energy. AI demands energy. Secretary of Energy Chris Wright stated in a letter to Congress this week that the “United States is experiencing an unprecedented surge in electricity demand.” AI Infrastructure and Data Centers require vast amounts of energy, and that demand is only expected to increase as the technology expands.
Based on information provided by the U.S. Inflation Calculator, since Trump took office, inflation has averaged 2.65% each month.
Senate Minority Leader Chuck Schumer (D-NY) stated, “The inflation report today is just the latest warning sign that Donald Trump continues to squeeze the life out of working people in our economy.” 
The Biden Administration had an inflation average of 4.9%. The Federal Reserve has a goal of keeping inflation at 2%.

Safeway Aisles

The Nation Finally Gets Its Inflation Report — And It’s Better Than The Experts Told Us It Would Be

Nine days past the due date, America gets CPI Report 

groceries

Social Security

The economy performed better in the second quarter of 2025 than previously projected, according to revised statistics released Thursday by the U.S. Bureau of Economic Analysis. 
The second quarter (April, May, and June) saw a 3.8% increase in gross domestic product, according to the latest revision. Previously released estimates for growth initially came in at 3% and then at 3.3%. 
“The increase in real GDP in the second quarter primarily reflected a decrease in imports, which are a subtraction in the calculation of GDP, and an increase in consumer spending,” the bureau <a href="https://www.bea.gov/news/2025/gross-domestic-product-2nd-quarter-2025-third-estimate-gdp-industry-corporate-profits">said</a>. “These movements were partly offset by decreases in investment and exports.”
The bureau attributed the increase in GDP primarily to a rise in consumer spending. In the first quarter, GDP declined 0.6% after a surge in imports. 
Sectors that saw significant growth in the second quarter included finance and insurance, information, nondurable goods manufacturing, real estate, healthcare, mining, wholesale trade, and construction. Retail trade, federal government, educational services, and local government all saw declining productivity. 
The White House celebrated the revisions, saying that they reflected the success of President Donald Trump’s economic policies. 
“America’s economic resurgence under President Trump continues: revised data show even stronger real GDP growth of 3.8 percent in Q2 2025 thanks to the Trump agenda of tax cuts, deregulation, tariffs, and energy abundance. And this is just the beginning: new data from today also shows core capital goods orders beat expectations, paving the way for robust investment growth in Q3,” <a href="https://x.com/KushDesai47/status/1971208450311958919">said</a> White House Deputy Press Secretary Kush Desai. 
<blockquote class="twitter-tweet">
America’s economic resurgence under President Trump continues: revised data show even stronger real GDP growth of 3.8 percent in Q2 2025 thanks to the Trump agenda of tax cuts, deregulation, tariffs, and energy abundance. And this is just the beginning: new data from today also… <a href="https://t.co/aXvf7CKDLo">https://t.co/aXvf7CKDLo</a>
— Kush Desai (@KushDesai47) <a href="https://twitter.com/KushDesai47/status/1971208450311958919?ref_src=twsrc%5Etfw">September 25, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
“President Trump pledged to Make America Wealthy Again, and with Joe Biden’s inflation crisis tamed, we are now laying the groundwork for a long-term restoration of American Greatness,” Desai added. 
Numbers from the Bureau of Labor Statistics <a href="https://www.dailywire.com/news/real-progress-here-wholesale-inflation-drops-in-august-stunning-economists?author=Zach+Jewell&amp;category=News&amp;elementPosition=undefined&amp;row=0&amp;rowType=Vertical+List&amp;title=‘Real+Progress+Here’%3A+Wholesale+Inflation+Drops+In+August%2C+Stunning+Economists">released</a> earlier this month showed that inflation dropped significantly in August, below what economists had expected. The agency reported that the Producer Price Index (PPI) came in at 2.6% year-over-year, far below the 3.3% rise that was forecasted, according to Barron’s.

President Trump Departs Morristown Airport En Route To Washington, DC

U.S. Economy Smashed Q2 Forecasts As Shoppers Went On A Spending Spree

Wholesale prices dropped in August, coming in significantly below what economists had expected, and led to a new record high for the S&amp;P 500 on Wednesday.
The Bureau of Labor Statistics reported that the Producer Price Index (PPI) came in at 2.6% year-over-year, far below the 3.3% rise that was forecasted, according to <a href="https://www.barrons.com/articles/ppi-wholesale-inflation-data-august-83ddcabb">Barron’s</a>. Wholesale prices dropped 0.1% on a monthly basis, which was also better than what economists were expecting, with the Dow Jones predicting a 0.3% rise, CNBC <a href="https://www.cnbc.com/2025/09/10/ppi-inflation-august-2025-.html">reported</a>.
“Boy, I’m surprised — real progress here! 2.6% on year-over-year headline. We were expecting 3.3%!” <a href="https://x.com/RapidResponse47/status/1965761591179182133">said</a> CNBC’s Rick Santelli.
CNBC host Becky Quick <a href="https://x.com/RapidResponse47/status/1965762391620391046">added</a> that the inflation report was “a real shocker.”
The White House took a victory lap after the report from the Bureau of Labor Statistics, blasting “the so-called ‘experts’” who had predicted for months that President Donald Trump’s wide-ranging tariffs would cause prices to skyrocket.
“The latest PPI report shows there is no inflation — wholesale prices fell and smashed economists’ expectations. President Trump has defeated Joe Biden’s inflation crisis while successfully implementing powerful tariffs, which haven’t hiked prices like the so-called ‘experts’ claimed,” said White House Press Secretary Karoline Leavitt. “This is yet another reason for Jerome ‘Too Late’ Powell to cut the rates immediately to make everyday life more affordable for Americans.”
In July, the PPI increased by 0.7%, which was the highest month-over-month increase since Trump took office for his second term in January.
The S&amp;P 500 surged to a new record high, climbing another 0.4% after the report came out on Wednesday, according to <a href="https://www.cnbc.com/2025/09/09/stock-market-today-live-updates.html">CNBC</a>. Computer software company Oracle led the S&amp;P 500 rally, gaining 40% after the company released a surprising forecast, <a href="https://finance.yahoo.com/news/oracle-stock-soars-after-ceo-says-ai-fueled-cloud-revenue-set-to-jump-to-144-billion-154530523.html?guccounter=1&amp;guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&amp;guce_referrer_sig=AQAAAI1-i2sXMCo1_r6MGzX2KKW5v4fhoklORnC7L3nznCj71xQWTri54REsRQfjHKpN96sIT2D3X-mIe33cajfQNBG95b7PFPsaXSKelDPTr0nuCMK9FI1ly6yzT1YndXcDiYnJomDW8MBy2nenY0lb0OflSZ1kRI-fPMkS8cSzcexB" target="_blank" rel="noopener">stating</a> that it expects AI-fueled revenue to reach $144 billion by its 2030 fiscal year.
The August inflation report was published just one week before the Federal Reserve Board of Governors meets for its September gathering, as signs indicate that policymakers may lower interest rates after months of pressure from Trump. Fed Chair Jerome Powell <a href="https://www.dailywire.com/news/fed-chair-jerome-powell-hints-at-possible-rate-cut-wall-street-cheers">hinted</a> last month that a rate cut could happen under current economic conditions.
Prices under Trump’s tariffs have continued to defy predictions from economists as American consumers have seen little to no effect on overall prices after the president imposed duties on dozens of countries, including America’s top trading partners. The tariffs, however, will be <a href="https://www.dailywire.com/news/scotus-agrees-to-hear-case-on-trumps-tariffs-after-admin-asks-for-swift-action">considered</a> by the Supreme Court, as the administration warns that a ruling striking down the tariffs would have “ruinous” consequences for the U.S. economy.

‘Real Progress Here’: Wholesale Inflation Drops In August, Stunning Economists

Stock Market

Trump Administration

Inflation remains low despite media warnings about tariffs, as the U.S. extends its trade truce with China. The fallout from President Trump&#8217;s federal takeover of the D.C. police intensifies, with the city&#8217;s mayor and the media clashing over the reality of the crime crisis. Israeli Prime Minister Bibi Netanyahu lays out his post-war plan for Gaza and pushes back on a &#8220;global campaign of lies&#8221; as international pressure mounts.
It’s Wednesday, August 13, 2025, and this is the news you need to know to start your day.
Morning Wire is available on video! You can watch today’s episode here:
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<h2>Trump Economy Holds Strong as Inflation Defies Predictions</h2>
<div class="image"><img loading="lazy" decoding="async" class="alignnone size-large wp-image-960189" src="https://dw-wp-production.imgix.net/2025/08/MRN-8.13.25-Wed-SH1-1024x576.jpg" alt="" width="1024" height="576" srcset="https://dw-wp-production.imgix.net/2025/08/MRN-8.13.25-Wed-SH1-1024x576.jpg 1024w, https://dw-wp-production.imgix.net/2025/08/MRN-8.13.25-Wed-SH1-300x169.jpg 300w, https://dw-wp-production.imgix.net/2025/08/MRN-8.13.25-Wed-SH1-768x432.jpg 768w, https://dw-wp-production.imgix.net/2025/08/MRN-8.13.25-Wed-SH1-1536x864.jpg 1536w, https://dw-wp-production.imgix.net/2025/08/MRN-8.13.25-Wed-SH1.jpg 1920w" sizes=" (max-width: 1024px) 100vw, 1024px" /></div>
Topline: New data show U.S. inflation held steady at a lower-than-expected rate in July, defying dire predictions that President Trump’s tariffs would cause prices to skyrocket. 
Despite warnings from many experts and media outlets, inflation held steady at 2.7% in July, below the 2.8% predicted by economists. The new numbers show that prices for key goods are falling, with gasoline down 10% and eggs down 20%, while real wages are up 1.3% compared to last year. While outlets like The New York Times have tried to frame the numbers negatively, even CNN was forced to acknowledge falling energy and grocery prices. 
The good news comes as the U.S. and China agreed to extend their &#8220;trade truce&#8221; for another 90 days, holding tariffs at a reduced rate while negotiations continue. The administration’s massive trade deals with the European Union, U.K., South Korea, and Japan are already paying dividends. Treasury Secretary Scott Bessent says the new tariffs have already brought in over $100 billion and are projected to reach $300 billion by the end of the year. 
<h2>Fallout Intensifies Over Trump’s D.C. Takeover</h2>
<div class="image"><img loading="lazy" decoding="async" class="alignnone size-large wp-image-960187" src="https://dw-wp-production.imgix.net/2025/08/MRN-8.13.25-Wed-SH2-1024x576.jpg" alt="" width="1024" height="576" srcset="https://dw-wp-production.imgix.net/2025/08/MRN-8.13.25-Wed-SH2-1024x576.jpg 1024w, https://dw-wp-production.imgix.net/2025/08/MRN-8.13.25-Wed-SH2-300x169.jpg 300w, https://dw-wp-production.imgix.net/2025/08/MRN-8.13.25-Wed-SH2-768x432.jpg 768w, https://dw-wp-production.imgix.net/2025/08/MRN-8.13.25-Wed-SH2-1536x864.jpg 1536w, https://dw-wp-production.imgix.net/2025/08/MRN-8.13.25-Wed-SH2.jpg 1920w" sizes=" (max-width: 1024px) 100vw, 1024px" /></div>
Topline: The fallout from President Trump’s decision to federalize the Washington, D.C., police force has intensified, sparking a furious debate between city leaders and the media over the reality of the capital&#8217;s crime crisis. 
D.C. Mayor Muriel Bowser has admitted she has no legal recourse to stop the federal intervention, but claims the crime wave is a fiction, stating that the city is at a &#8220;30-year violent crime low.&#8221; She is using the federal takeover to renew her calls for D.C. statehood. That narrative has been echoed by some in the media, with a New York Times reporter referring to a &#8220;nonexistent crime crisis.&#8221; 
However, journalists on the ground in D.C. tell a different story. An ABC News anchor detailed multiple recent shootings near her downtown office, while a CNN contributor said he witnessed a murder in Union Station just a few months ago. 
The D.C. police union is backing the president&#8217;s move, saying crime is &#8220;out of control.&#8221; The union&#8217;s president blamed a 2020 law that &#8220;handcuffed police officers&#8221; for creating a shortage of over 800 officers and making it impossible to properly police the city. 
<h2>Netanyahu Outlines Gaza Plan, Pushes Back on ‘Lies’</h2>
<div class="image"><img loading="lazy" decoding="async" class="alignnone size-large wp-image-960185" src="https://dw-wp-production.imgix.net/2025/08/MRN-8.13.25-Wed-SH3-1024x576.jpg" alt="" width="1024" height="576" srcset="https://dw-wp-production.imgix.net/2025/08/MRN-8.13.25-Wed-SH3-1024x576.jpg 1024w, https://dw-wp-production.imgix.net/2025/08/MRN-8.13.25-Wed-SH3-300x169.jpg 300w, https://dw-wp-production.imgix.net/2025/08/MRN-8.13.25-Wed-SH3-768x432.jpg 768w, https://dw-wp-production.imgix.net/2025/08/MRN-8.13.25-Wed-SH3-1536x864.jpg 1536w, https://dw-wp-production.imgix.net/2025/08/MRN-8.13.25-Wed-SH3.jpg 1920w" sizes=" (max-width: 1024px) 100vw, 1024px" /></div>
Topline: Israeli Prime Minister Benjamin Netanyahu has laid out a five-point vision for a post-war Gaza and is pushing back against what he calls a &#8220;global campaign of lies&#8221; regarding the humanitarian situation in the territory. 
During a press conference, Netanyahu said Israel&#8217;s goal is to &#8220;free Gaza from Hamas terrorists,&#8221; not to occupy it. His five-point plan includes the defeat of Hamas and the release of all hostages, the demilitarization of Gaza, an established security zone on the border, and a new civilian administration that can live in peace with Israel. 
Netanyahu also pushed back on claims that Israel is causing a humanitarian crisis, stating that his country has allowed nearly two million tons of aid into Gaza. &#8220;Our policy throughout the war has been to prevent a humanitarian crisis, while Hamas’ policy has been to create it,&#8221; he said, noting that Hamas loots nearly 90% of aid trucks. A recent Daily Wire exclusive report from Kassy Akiva supported this, debunking a viral story about a Gazan boy who was allegedly killed by Israeli forces at an aid site. 
The comments come as international pressure on Israel mounts. Several European nations, including France, the U.K., and Canada, have recently moved to recognize a Palestinian state. Secretary of State Marco Rubio criticized the move, saying that by rewarding the Palestinians while Hamas still holds hostages, these countries have &#8220;emboldened&#8221; the terror group and made a ceasefire harder to achieve.

MRN 8.13.25 Wed SH1

Morning Brief: Low Inflation, Tariff Truce w/China, D.C. Takeover Fallout, Plans For Post-War Gaza

Gaza

Hamas

Israel

Law Enforcement

Muriel Bowser

Washington D.C.

World

To no one&#8217;s surprise, besides the &#8220;experts&#8221; who get paid for their predictions, the consumer price index increased just 0.2% month-over-month in July and remained at a steady year-over-year rate of 2.7%.
The consumer price index (CPI), which is a widely viewed measure of inflation, once again showed a lower year-over-year increase than what economists predicted as more of President Donald Trump&#8217;s tariffs go into effect, CNBC <a href="https://www.cnbc.com/2025/08/12/cpi-inflation-report-july-2025.html">reported</a>. The economic report published Tuesday by the Bureau of Labor Statistics marked the second-straight month showing an annual inflation rate of 2.7%.
With another solid inflation report under his belt, Trump is again putting pressure on the Federal Reserve to lower interest rates at its next meeting, which is scheduled for September 16-17. In a Truth Social <a href="https://truthsocial.com/@realDonaldTrump/posts/115016089386029482">post</a> on Tuesday morning, Trump said that &#8220;Jerome &#8216;Too Late&#8217; Powell must NOW lower the rate.&#8221;
&#8220;The damage he has done by always being Too Late is incalculable. Fortunately, the economy is sooo good that we’ve blown through Powell and the complacent Board,&#8221; Trump added.
Core CPI, which excludes food and energy prices, rose 0.3% for the month and 3.1% for the year. The monthly increase was in line with expectations, while the annual core CPI rise was slightly above what economists predicted, according to CNBC. Most of the CPI increase was driven by a rise in shelter prices, the BLS reported. Energy prices, meanwhile, dropped 1.1% and food prices remained steady. Prices for used cars and trucks jumped 0.5% while transportation and medical care services also saw a rise of 0.8%.
The CPI report showed that Trump&#8217;s tariffs have had little to no effect on prices. Household furnishings and supplies showed a slight increase of 0.7%, but other products that are largely imported, including clothing and canned fruits and vegetables, remained mostly flat.
Former White House economist Jared Bernstein, who worked under former President Joe Biden, even admitted that tariffs are not having a major effect on inflation &#8220;at this point.&#8221;
“The tariffs are in the numbers, but they’re certainly not jumping out hair on fire at this point,” Bernstein told CNBC.
CNN was also <a href="https://x.com/RapidResponse47/status/1955257297514451012">surprised</a> by the low inflation numbers reported on Tuesday.
&#8220;Look at that food. This is where people spend their money, right? &#8230; Food [is] flat, 0%, and actually down at the grocery store by 0.1%.&#8221;
Stocks <a href="https://www.cnbc.com/2025/08/11/stock-market-today-live-updates-.html">rose</a> Tuesday morning following the lighter-than-expected inflation report, with the Dow Jones Industrial Average and the S&amp;P 500 jumping 0.6%. The Nasdaq Composite also rose 0.8% on the good economic news.
Trump&#8217;s tariffs on over 90 countries finally went into effect last week after he extended the deadline and struck numerous trade deals. Some of the president&#8217;s highest tariff rates include 50% tariffs on <a href="https://www.dailywire.com/news/trump-doubles-tariff-on-india-for-fueling-russian-war-machine">India</a> and <a href="https://www.dailywire.com/news/extraordinary-threat-trump-unleashes-on-brazil-with-massive-tariff-sanctions-on-extremist-judge">Brazil</a>, while other tariff <a href="https://www.whitehouse.gov/presidential-actions/2025/07/further-modifying-the-reciprocal-tariff-rates/">rates</a> range from 15% to 40%. On Monday, the president <a href="https://www.cnbc.com/2025/08/11/trump-china-tariffs-deadline-extended.html">extended</a> the tariff deadline for China for an additional 90 days as his trade officials seek to work out a deal with the communist country.

‘Experts’ Wrong Again: Inflation Remains Steady, Comes In Below Expectations

The official Democratic Party X account yanked down a post on Thursday night after its attempt to pin high grocery prices on President Donald Trump backfired.
The chart posted by the Democrats showed the prices of produce, meat, cheese, dairy, and alcohol hitting record highs in 2025. The Democratic Party captioned its post &#8220;Trump&#8217;s America,&#8221; but X users quickly noticed that the massive spike in grocery prices shown on the chart happened while former President Joe Biden was in office. There has been only a slight increase in prices since Trump stepped back into office in January.
<blockquote class="twitter-tweet">
In a now-deleted post, the <a href="https://twitter.com/democrats?ref_src=twsrc%5Etfw">@Democrats</a> account on X shared “Trump’s America” alongside a chart that read, “U.S. Grocery Prices Reached Highs in 2025.”
They really thought they scored a win. <a href="https://t.co/ofXALkwv9x">pic.twitter.com/ofXALkwv9x</a>
— The Vigilant Fox 🦊 (@VigilantFox) <a href="https://twitter.com/VigilantFox/status/1948550364006916461?ref_src=twsrc%5Etfw">July 25, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
The official &#8220;Rapid Response&#8221; X account for the White House <a href="https://x.com/RapidResponse47/status/1948521565454516606">responded</a> to the Democratic Party&#8217;s post, highlighting the spike that occurred when Biden was in the Oval Office.
&#8220;Democrats deleted this tweet after everyone with eyes pointed out it showed grocery prices skyrocketed under Biden,&#8221; Washington Free Beacon Editor Peter Hasson <a href="https://x.com/peterjhasson/status/1948550822649889010">posted</a> on X.
&#8220;I don&#8217;t know if there&#8217;s anything more Democratic Party than posting a chart of grocery prices exploding during the Biden administration in an attempt to blame Donald Trump,&#8221; <a href="https://x.com/ianmSC/status/1948521575793524775">wrote</a> Outkick writer Ian Miller.
&#8220;This is the breathtakingly moronic tweet deleted by the official X account of the Democratic Party, which shows almost no inflation under Trump, massive inflation under Biden, then almost no inflation under Trump 2,&#8221; <a href="https://x.com/rkylesmith/status/1948566240860987456">added</a> Wall Street Journal film critic Kyle Smith.
Under Biden, <a href="https://www.bls.gov/charts/consumer-price-index/consumer-price-index-by-category-line-chart.htm">inflation</a> hit a staggering 9.1% in June of 2022, and the cost of food skyrocketed 22% during Biden&#8217;s one term in office, The New York Post <a href="https://nypost.com/2025/07/24/us-news/democratic-party-effort-to-highlight-record-high-grocery-prices-completely-backfires/?utm_source=twitter&amp;utm_campaign=nypost&amp;utm_medium=social">reported</a>. In Trump&#8217;s first six months in office, the average cost of food in U.S. cities has increased around 1%, according to federal <a href="https://fred.stlouisfed.org/series/CPIUFDSL">data</a>.
Nearly every monthly Consumer Price Index report during Trump&#8217;s second term has defied economists&#8217; predictions, showing lower inflation levels than expected. The most recent report, however, did show a slight increase in year-over-year inflation as food, shelter, and energy prices rose.
The White House maintains that the economic data &#8220;proves that President Trump is stabilizing inflation and the Panicans continue to be wrong about tariffs raising prices.&#8221;

Democratic Party

Democratic Party Deletes Post After Getting Mocked For Trying To Pin High Grocery Prices On Trump

Democrats

grocery prices

Social Media

In the first six months of President Donald Trump&#8217;s second term, one major theme has defined Trump&#8217;s economic record thus far: success that surprises the people who are paid to predict it.
It hasn&#8217;t been surprising for the president, who is carrying out his promise to revamp American manufacturing and boost American jobs, mainly by imposing unprecedented tariffs on nearly every country in the world. And it comes as economists who predicted large-scale inflation and market downturn over Trump&#8217;s bold economic agenda keep seeing economic metrics come across their desks showing the opposite.
Earlier this year, Americans were told to brace their wallets for rising inflation and prepare for a <a href="https://www.cbsnews.com/news/trump-tariffs-economists-forecast-stagflation-recession-risk/">recession</a> caused by Trump&#8217;s major tariffs, especially those levied on America&#8217;s biggest trading partners, China, Canada, and Mexico. In May, Goldman Sachs analysts said core goods inflation could hit 6.3% by the end of the year while consumer prices would spike 3.7% by early 2026, according to CNN.
The latest numbers on the U.S. economy fly in the face of the naysayers, branded by Trump as &#8220;panicans.&#8221; Late last week, the U.S. Census Bureau <a href="https://www.census.gov/retail/sales.html">reported</a> that June retail sales were up 0.6% from May and up 3.5% from last year. Food service and drinks sales jumped 6.6% from June 2024. Those numbers were, of course, better than what economists had predicted — a phrase that has become a monthly tradition since Trump stepped back into the White House
According to University of Michigan surveys, American consumers expected prices to rise 6.6% this year. But so far, there&#8217;s been no sign of inflation jumping through the roof, and even <a href="https://www.cnn.com/2025/06/20/business/tariff-price-increases-inflation-explained">CNN</a> had to admit last month, &#8220;Love tariffs or hate them, there’s no denying inflation is lower now than when Trump took office.&#8221;
The numbers don&#8217;t lie: inflation under Trump has defied economists&#8217; predictions in nearly every month the president has been in office. In April, year-over-year inflation came in at 2.3%, its <a href="https://www.dailywire.com/news/inflation-hits-lowest-point-in-over-4-years-as-april-report-better-than-expected">lowest annual rate</a> in more than four years. The Consumer Price Index <a href="https://www.dailywire.com/news/great-numbers-report-shows-no-significant-tariff-related-price-jumps-for-3rd-straight-month">rose</a> to just 2.4% in May compared to last year, which again was lower than what the &#8220;experts&#8221; predicted. Meanwhile, the Producer Price Index, which measures the average change over time in selling prices received by domestic producers, had its <a href="https://www.dailywire.com/news/u-s-wholesale-prices-see-biggest-drop-in-5-years-flying-in-the-face-of-economists-predictions">biggest drop</a> in five years in April, falling 0.5%.
As inflation numbers continue to look good for the Trump administration, U.S. job growth also beat expectations in <a href="https://www.dailywire.com/news/america-is-hot-job-growth-again-beats-expectations">May</a> and <a href="https://www.cnbc.com/2025/07/03/jobs-report-june-2025.html#:~:text=Nonfarm%20payrolls%20increased%20a%20seasonally,158%2C000%20following%20an%2011%2C000%20increase.">June</a> while unemployment ticks down.
“During his first six months in office, President Trump has repeatedly embarrassed the panicans who predicted doom and gloom, from inflation to recession. Under President Trump, Americans have seen an end to Joe Biden’s inflation crisis, multiple expectation-beating jobs reports, record tariff revenue collection, bond and stock market rallies, and historic investment commitments worth trillions that will cement America’s dominance in cutting-edge sectors,&#8221; White House Spokesman Kush Desai told The Daily Wire.
Still, many economists continue to warn of a coming inflation crisis due to Trump&#8217;s aggressive tariff policy. It&#8217;s only a matter of time before tariffs cause the inevitable chaos in America&#8217;s economy, they say. That fear, however, isn&#8217;t reflected in the stock market, which recently soared to record highs, or in the minds of consumers and business owners who remain optimistic about the economy.
Even with the latest CPI report showing a <a href="https://www.dailywire.com/news/inflation-creeps-up-as-trump-prepares-major-tariff-rollout?author=Zach+Jewell&amp;category=News&amp;elementPosition=undefined&amp;row=0&amp;rowType=Vertical+List&amp;title=Inflation+Creeps+Up+As+Trump+Prepares+Major+Tariff+Rollout">slight increase</a> in inflation, prices remain steady or even down over Trump&#8217;s second term. And with Trump&#8217;s tariffs going into effect, the United States is raking in billions of dollars in revenue. The country has brought in over $100 billion in tariff revenue since Trump took office in January, with tariff collections for the 2025 fiscal year jumping 65% from the previous year, Axios <a href="https://www.axios.com/2025/06/30/trump-tariffs-customs-revenue">reported</a> in late June.
Numerous foreign and American companies have also pledged to invest billions of dollars in the United States over the next few years, either to avoid Trump&#8217;s tariffs or to invest in the American energy and manufacturing boom that is quickly taking shape. Just last week, Trump met with executives from Google’s parent company Alphabet, along with officials from Meta, Microsoft, Exxon Mobil, and other companies, who <a href="https://www.dailywire.com/news/trump-to-meet-with-tech-and-energy-giants-after-google-announces-huge-investment-in-u-s">pledged $90 billion</a> worth of AI and energy investments in Pennsylvania.
For the &#8220;experts,&#8221; the rapid pace of the administration&#8217;s economic agenda has been shocking. For Trump, this was all a part of his plan.
&#8220;The best is yet to come – as the pro-growth policies of The One Big Beautiful Bill and new trade deals kick in, America’s economic resurgence under President Trump will only accelerate,&#8221; Desai added.

How Trump’s Economy Continues To Defy The ‘Experts’ And Shock The ‘Panicans’

Jobs

The House pulls the plug on NPR and PBS in a late-night funding fight as President Donald Trump&#8217;s plan gets final approval. Another top Biden aide pleads the Fifth in a congressional hearing about the former president’s competency. And we talk to the president of the Chicago Fed about the upcoming interest rate vote and the feud between Trump and Powell.
It’s Friday, July 18, and this is the news you need to know to start your day.
Morning Wire is available on video! You can watch today’s episode here: 
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<h2>Congress Approves Funding Cuts To PBS &amp; NPR</h2>
<div class="image"><img loading="lazy" decoding="async" class="alignnone size-large wp-image-948759" src="https://dw-wp-production.imgix.net/2025/07/SEGMENT-HEADERS.00_00_21_19.Still001-1024x576.jpg" alt="" width="1024" height="576" srcset="https://dw-wp-production.imgix.net/2025/07/SEGMENT-HEADERS.00_00_21_19.Still001-1024x576.jpg 1024w, https://dw-wp-production.imgix.net/2025/07/SEGMENT-HEADERS.00_00_21_19.Still001-300x169.jpg 300w, https://dw-wp-production.imgix.net/2025/07/SEGMENT-HEADERS.00_00_21_19.Still001-768x432.jpg 768w, https://dw-wp-production.imgix.net/2025/07/SEGMENT-HEADERS.00_00_21_19.Still001-1536x864.jpg 1536w, https://dw-wp-production.imgix.net/2025/07/SEGMENT-HEADERS.00_00_21_19.Still001.jpg 1920w" sizes=" (max-width: 1024px) 100vw, 1024px" /></div>
Topline: In the early hours of Friday morning, the House gave final approval to President Trump&#8217;s plan to claw back $9 billion in funding to global aid and government-funded media after the Senate narrowly passed a measure early Thursday. It now heads to Trump&#8217;s desk.
In June, the White House formally requested that Congress rescind $1.1 billion in funding that had already been allocated for the Corporation for Public Broadcasting, which funds NPR and PBS. Early Thursday morning, after hours of debate, the Senate voted 51-48 to approve the measure. 
Democrats say NPR and PBS represent America’s commitment to a free press and provide essential services for all people, particularly those in rural communities. They also argue that public broadcasting plays a major role in emergency preparedness and community safety.
“When a flood happens, when a tornado touches down, when a hurricane makes landfall, people need immediate, up-to-date alerts to stay safe,” Senate Minority Leader Chuck Schumer(D-NY) argued in a speech on the Senate floor. “All too often, public broadcasting is the only way for people to hear what’s going on. It’s a matter of life and death.&#8221;
Republicans say that’s a ridiculous argument given how many ways people now receive warnings about natural disasters.
“All broadcasters are required to broadcast emergency alerts,” Tim Graham, host of NewsBusters at the Media Research Center told The Daily Wire. “Today, everybody&#8217;s going to get emergency alerts on their cell phone. So the idea that you need NPR to learn of a flash flood alert – I mean, first of all, you have to assume that there&#8217;s a huge number of people listening to NPR at 10 p.m. &#8230; It’s just not true.”
Republicans have argued for decades that NPR and PBS are not balanced news sources and that both organizations lean heavily to the Left. “Recently, we counted labels,” Graham told The Daily Wire. “[The PBS Newshour] used &#8216;far-Right&#8217; labels 42 times as often as they used &#8216;far-Left&#8217; … And the interesting thing here was that Donald Trump got elected with a Republican Congress, they could see the writing on the wall, and PBS and NPR made no attempt to move to the center to try to be fairer, to try to be more balanced. If anything, they have doubled down in 2025. They were basically suggesting they didn&#8217;t care what the Republican opinion was on their product.”
<h2>Biden WH Aide Pleads The Fifth In Congressional Testimony</h2>
<div class="image"><img loading="lazy" decoding="async" class="alignnone size-large wp-image-948761" src="https://dw-wp-production.imgix.net/2025/07/SEGMENT-HEADERS.00_01_21_16.Still002-1024x576.jpg" alt="" width="1024" height="576" srcset="https://dw-wp-production.imgix.net/2025/07/SEGMENT-HEADERS.00_01_21_16.Still002-1024x576.jpg 1024w, https://dw-wp-production.imgix.net/2025/07/SEGMENT-HEADERS.00_01_21_16.Still002-300x169.jpg 300w, https://dw-wp-production.imgix.net/2025/07/SEGMENT-HEADERS.00_01_21_16.Still002-768x432.jpg 768w, https://dw-wp-production.imgix.net/2025/07/SEGMENT-HEADERS.00_01_21_16.Still002-1536x864.jpg 1536w, https://dw-wp-production.imgix.net/2025/07/SEGMENT-HEADERS.00_01_21_16.Still002.jpg 1920w" sizes=" (max-width: 1024px) 100vw, 1024px" /></div>
Topline: Former first lady Jill Biden’s top aide testified to Congress on Wednesday. Anthony Bernal, who has been close to the Biden family since 2008, pleaded the Fifth seven times in response to investigators&#8217; questions.
Bernal, Jill Biden’s chief of staff, refused to answer a slate of questions around former president Biden’s health – instead invoking his Constitutional right to avoid self-incrimination. Bernal was a top trusted aide in the Biden White House – Jill often referred to him as her “work husband.”
When asked by the House Oversight Committee if President Biden was fit to exercise his duties, Bernal said, “On the advice of counsel, I respectfully decline to answer the question pursuant to my Fifth Amendment rights under the Constitution.”
Last week, Biden’s White House doctor Kevin O’Connor refused to answer questions, citing his Fifth Amendment rights and <a href="https://www.law.cornell.edu/wex/doctor-patient_privilege">doctor-patient privilege</a>. Legally, invoking the Fifth is <a href="https://caselaw.findlaw.com/court/us-supreme-court/532/17.html">not</a> an admission of guilt, and most criminal lawyers <a href="https://www.youtube.com/watch?v=d-7o9xYp7eE">highly discourage</a> their clients from sharing anything with authorities that might conceivably be used against them. Nevertheless, many Republicans are concerned about the concerted coverup of Joe Biden’s cognitive decline and want to know who was running the Biden administration if he wasn’t.
In their book, &#8220;Original Sin,&#8221; a deep dive into the Biden White House and his re-election effort, Jake Tapper and Alex Thompson described Bernal as “[one of] the Bidens’ eyes and ears, the keepers of the flame, the protectors of the myth. &#8230; As we researched this book, it was difficult to find many Bernal defenders. … He freely trash-talked senior, mid-level and junior aides. … Some described him as the worst person they had ever met.”
Despite their reticence, Bernal and O’Connor could be compelled to testify by Congress – if they were offered immunity for any crimes revealed by their testimony, then the Fifth Amendment’s protection against self-incrimination would no longer apply, although in O’Connor’s case, doctor-patient privilege could shield him from certain questions.
Oversight Committee Chairman James Comer (R-KY) told Fox News that Bernal could not say that Biden was mentally well without lying under oath, which is why he pleaded the Fifth. Comer also suggested that he would like to see more of Biden’s inner circle testify before his committee, including Jill Biden and former Vice President Kamala Harris.
<h2>Federal Reserve Meeting</h2>
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Topline: As President Trump ramps up pressure on Fed Chair Jerome Powell, the Fed is preparing for a meeting at the end of the month to decide whether to cut interest rates – as the president is demanding.
Chicago Fed President Austan Goolsbee, a voting member of the Federal Open Market Committee (FOMC), spoke to The Daily Wire shortly before the upcoming July 29-30 meeting and offered his perspective on current economic data.
Goolsbee described the latest inflation data as &#8220;a little bit of a mixed bag,&#8221; noting positive trends in services and housing inflation, but expressing wariness about &#8220;actual physical goods&#8221; where &#8220;tariffs are going to increase the prices a bit.&#8221; Despite this, he remains &#8220;still hopeful that we&#8217;re in a pretty solid place on the economy,&#8221; citing sustained growth and &#8220;close to full employment&#8221; as key strengths, with the primary goal being to keep &#8220;inflation on path back to 2 percent.&#8221;
A public dispute between President Trump and Fed Chair Jerome Powell has brought the issue of central bank independence into sharp focus. Goolsbee, while unable to speak for the entire Fed, voiced his unease about such arguments. He emphasized that the reason &#8220;all the rich countries of the world have an independent central bank – that&#8217;s independent of political interference – is precisely because if you look at places where they don&#8217;t have central bank independence, inflation is higher, unemployment is higher, growth is worse.&#8221; He underscored the imperative that interest rate decisions &#8220;should be rooted in that dual mandate: stabilizing prices and maximizing employment,&#8221; adding, &#8220;That&#8217;s the critical element, should be economic conditions that drive the decisions.&#8221;
Regarding the immediate outlook for interest rates, Goolsbee maintained his usual cautious stance ahead of the meeting and further data, stating, &#8220;I don&#8217;t like tying our hands before the meetings.&#8221; However, he indicated a general inclination toward lower rates if conditions allow. He noted that his view prior to April 2 was that &#8220;we got pretty close to stable full employment. We got inflation trending down to 2% — and in an environment like that, I think rates can go down a fair bit more than from where they are today.&#8221;

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Morning Brief: Congress Cuts Funding For PBS & NPR, Biden’s Decline Investigated, Fed Meeting

Biden Administration

Congress

Jerome Powell

Jill Biden

Joe Biden

National Public Radio (NPR)

Public Broadcasting Service (PBS)

President Trump continues his assault on Fed Chair Jerome Powell. With the Big Beautiful Bill signed into law, the House GOP lays out their next set of priorities. And, Trump unveils a $100 billion energy investment in Pennsylvania – which he hopes will spur America&#8217;s tech dominance over China.
It’s Thursday, July 17, and this is the news you need to know to start your day.
Morning Wire is available on video! You can watch today’s episode here: 
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<h2>Trump Threatens To Fire Fed Chair</h2>
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Topline: As the Federal Reserve continues to hold interest rates steady, President Trump is once again threatening to fire Federal Reserve Chair Jerome Powell.
Jerome Powell was first appointed Chairman of the Federal Reserve by Donald Trump himself back in 2017, but ever since 2019, he’s drawn the consistent ire of the president. Trump says he was too slow to cut rates during the pandemic, and felt Powell intentionally kept rates high ahead of the 2020 election to try and hurt the economy and his re-election odds.
Now Trump is furious with Powell once again over his hesitation to cut rates despite low inflation and strong labor numbers — for his part, Powell has expressed concerns that Trump’s tariffs will spur inflation, and he doesn’t want to cut rates if the economy is about to slow down.
Trump has repeatedly hinted that he could fire Powell — however, because the Federal Reserve is meant to be independent of Congress and the White House, the president is only allowed to remove its chair with cause. Policy disputes aside, the White House believes they could have cause in the form of a $2.5 billion renovation plan for the Federal Reserve that Powell approved. Trump says Powell has wasted taxpayer money on a “palace” for himself and hinted that the project could constitute fraud.
“I don’t rule out anything,” Trump <a href="https://x.com/BreitbartNews/status/1945520191883948337">said</a> when asked if he would fire Powell, although he noted such a move would be &#8220;highly unlikely.&#8221; “It&#8217;s possible that there&#8217;s fraud involved with the $2.5 billion-$2.7 billion renovation. &#8230; And he didn’t have proper clearance. So there could be something to that.”
On Tuesday night, Trump reportedly floated the idea to his allies in Congress, showing conservative House members a draft letter informing Powell he’d been fired that he was prepared to send. He then polled those 12 members for their thoughts – 11 reportedly advised him to fire Powell. But by Wednesday, the president <a href="https://x.com/Acyn/status/1945513505941241860">seemed</a> to be having second thoughts. “We’re not planning on doing anything. We’re a little concerned.”
<h2>Congressional Round-Up</h2>
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Topline: After the passage of the One Big, Beautiful Bill, congressional Republicans are focusing on new legislative priorities.
On Tuesday, the Republican Study Committee hosted a “new media row” on the Hill, an opportunity for outlets like The Daily Wire to speak to their members one-on-one. That includes House Majority Leader Steve Scalise, who spoke to Daily Wire White House Correspondent Mary Margaret Olohan about the concerning rise of violent political rhetoric on the Left. Scalise was badly injured at a mass shooting by a left-wing activist at the 2017 Congressional baseball game — he’s particularly sensitive to this issue.
“You&#8217;re seeing people attacking our law enforcement, including ICE agents, and they&#8217;re spurred on by a lot of the rhetoric from the Left,” Scalise told The Daily Wire. “That&#8217;s got to stop.”
Scalise also addressed the ongoing Jeffrey Epstein controversy – he told The Daily Wire he trusts President Trump will &#8220;straighten things out … I haven&#8217;t been privy to those documents, the classified information. Others have, but look, I trust Donald Trump and his judgment. And ultimately, I think he&#8217;s going to get the right answers.”
“The cartels are going to go where the money is, and they&#8217;re going to go where they&#8217;re going to find the most lax state laws where they can take advantage,” said New York Congresswoman Claudia Tenney, who’s been fighting to keep drugs and criminals from pouring through our northern border. She said she’s particularly worried about the problem in light of recent developments in New York City. “New York City is facing a major crisis, which is going to impact not just the state, but all of us. Obviously, the election of a Marxist antisemite, like Zoran Mamdani … these are the kind of people that are helping, aiding and abetting the criminal cartels that are trafficking children, trafficking women.”
Florida Congresswoman Kat Cammack said her biggest priority was imposing background checks for Congress. “We’ve seen situations where individuals who have ties to foreign nations, different organizations that have terrorist funding have made their way in through different offices … I think the American people deserve to know who&#8217;s working on their behalf. It&#8217;s pretty simple, but you would not believe the resistance that we&#8217;re getting.”
Several other lawmakers also spoke at length with The Daily Wire – stay tuned to hear more about protecting kids, women’s sports, the Middle East, the Texas floods, and why Rep. Jim Jordan (R-OH) never wears a suit jacket.
<h2>Pennsylvania Receives $100 Billion In AI Investments</h2>
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Topline: President Trump is directing $100 billion to artificial intelligence infrastructure in Pennsylvania. A summit held at Carnegie Mellon University was billed as a chance to showcase the state’s “potential to power the A.I. revolution.”
AI investment is picking up rapidly in the state of Pennsylvania. On Tuesday, Trump <a href="https://x.com/cspan/status/1945209947962118191">said</a> that he had received pledges worth over $90 billion for new AI and energy investment in the Keystone state. By Wednesday, that number had risen to more than $100 billion, including an investment from the asset manager Blackstone, which wants to bankroll $25 billion worth of new data centers and energy infrastructure in the state.
Pennsylvania is a key swing state located in the center of the Rust Belt – the old industrial heart of the United States – but electoral concerns aside, many of the same factors that helped the state rise to prominence in the industrial era have become relevant again in the AI age. Old industrial sites generally have ready access to water and electricity, which data centers consume huge amounts of for cooling and power generation – some data centers <a href="https://www.asce.org/publications-and-news/civil-engineering-source/civil-engineering-magazine/issues/magazine-issue/article/2024/03/engineers-often-need-a-lot-of-water-to-keep-data-centers-cool">require</a> millions of gallons of water per day and AI is <a href="https://www.technologyreview.com/2025/05/20/1116327/ai-energy-usage-climate-footprint-big-tech/">projected</a> to account for more than 20% of global power consumption by ~2030.
Pennsylvania also sits on top of the Marcellus Shale formation – that means plentiful natural gas ready to be tapped into, and less money spent on pipelines to get it to power plants to fuel the data centers. A deactivated coal plant in Homer City, Pennsylvania, is being rebuilt into the largest natural gas-fired power plant in the world – <a href="https://x.com/RapidResponse47/status/1945515122551566624">according</a> to President Trump – and the nuclear plant at <a href="https://www.technologyreview.com/2024/09/26/1104516/three-mile-island-microsoft/">Three Mile Island</a> is being reactivated to exclusively power Microsoft data centers.
The U.S. leads the field in AI research and development, but China has emerged as a major competitor. China is investing heavily in new power stations to build out its already substantial lead over the U.S. In 2023, according to the <a href="https://www.brookings.edu/articles/how-do-china-and-america-think-about-the-energy-transition/#:~:text=China%20is%20very%20reliant%20on,that%20level%20of%20solar%20installations.">Brookings Institution</a>, China had over twice the electricity generation that the United States has and was on track to greatly increase that.

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Morning Brief: Trump Vs Fed Chair, Congressional Chats, $100 Billion Investment In Pennsylvania AI

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