Wednesday, July 30 | By Cate Martel |
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U.S. growth rebounds Powell's 2:30 p.m. interest rate decision Tsunami waves hit Hawaii, California Inside Cory Booker's Senate blowup Katy Perry, Justin Trudeau spotted together
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Let's talk about the e-con-o-my. Let's talk about you and me: |
The U.S. economy rebounded in the spring after contracting in the winter, according to data released Wednesday by the Bureau of Economic Analysis (BEA). How this is measured: The U.S. gross domestic product (GDP) — or the value of all goods and services across the economy — rose. This comes after the GDP fell by 0.5 percent in the first quarter while President Trump triggered a trade war. 🚨 Another big metric to watch for today: Federal Reserve Chair Jerome Powell will announce at 2:30 p.m. EDT the Fed's decision on interest rates. Experts aren't expecting a rate change, despite pressure from the president, but there can be surprises. 💻 Watch it live On cue, Trump again this morning pushed Powell to cut rates, arguing there's "no inflation" in a Truth Social post. "Let people buy, and refinance, their homes!" Trump said. 🗨️ Follow today's live blog Why the economic rebound is welcome news for the White House: The GDP figures arrive as another metric heads the opposite direction for the president: his approval rating. Trump's net approval rating has reached its lowest point of his second term, according to a new Economist/YouGov poll. His net approval rating is 15 points underwater. 🔎 See the full poll 📆 For your radar: Price data will be released on Thursday, which will give us a good measure of inflation. Plus, the July jobs report will come out on Friday. By the end of the week, we should have a clearer picture of where the U.S. economy stands. |
Trump unveils India tariffs: |
President Trump insists he is holding firm on his Aug. 1 start date for the global tariffs to kick in, calling it a "BIG DAY FOR AMERICA!!!" And he just announced a 25 percent tariff on products imported from India, beginning on Friday. Which of the U.S.'s top trading partners *don't* have a trade deal with Trump yet?: China, Mexico, Canada, South Korea, Taiwan, India, Brazil, Switzerland and Thailand. U.S. and Chinese officials held another round of talks in Stockholm this week ahead of a separate Aug. 12 deadline for tariffs on China. Where each country stands in negotiations, via The Hill's Alex Gangitano |
The Earth's power is mind-blowing sometimes: |
Tsunami waves hit Hawaii, California, Washington state, Alaska, Japan and coastal areas of Russia's islands this morning following one of the most powerful earthquakes ever recorded. What triggered this?: A powerful 8.8-magnitude earthquake rumbled off the coast of Russia, triggering tsunami warnings across the Pacific. Hawaii had an evacuation order in place but has since downgraded it. |
A Senate confirmation that turned some heads: |
The Senate approved Emil Bove to the 3rd Circuit Court of Appeals, giving the No. 3 DOJ official and former Trump lawyer a lifetime appointment, even amid a series of whistleblower complaints about his conduct. What I mean by 'complaints about his conduct': Bove is currently the subject of three different complaints in recent weeks. Two of those allege he violated court orders. The third alleges he misled Congress on the dropping of bribery charges against New York Mayor Eric Adams. The Senate vote: 50-49. Republican Sens. Lisa Murkowski (Alaska) and Susan Collins (Maine) joined Democrats in voting "no." Rebecca Beitsch explains the controversies surrounding Bove. Read it in The Hill |
➤ MORE COMINGS AND GOINGS: |
In: The Senate also confirmed Susan Monarez to lead the Centers for Disease Control and Prevention (CDC). The vote was 51-47. This was Trump's second pick for the role — the CDC hasn't had a permanent leader since March. She's a longtime government scientist who will now be at the helm of an agency Health and Human Services (HHS) Secretary Robert F. Kennedy Jr. has upended. Read more Out: "Vinay Prasad, the top vaccine regulator and chief scientific officer at the Food and Drug Administration (FDA) and a critic of the agency's COVID-19 policies, has departed after being on the job for less than three months." An HHS spokesperson wouldn't give a reason for the sudden departure. Read more |
This was an intense blowup: |
Sen. Cory Booker (N.J.) unleashed on Democratic colleagues on the Senate floor Tuesday, accusing them of being "willing to be complicit" with Trump. What prompted the fireworks: Sen. Catherine Cortez Masto (D-Nev.) tried to move a package of bills that included grants for police departments around the country. But Booker objected, noting the grants wouldn't go to New Jersey and some other Democratic-led states. Then things grew tense: Sen. Amy Klobuchar (D-Minn.) pointed out Booker previously objected — "long before" Trump was in office — to her own policing legislation, arguing his criticism was broader than he framed it. Klobuchar then jabbed him for missing the committee markup for the bills. "I don't need lectures on the urgency of this," Booker fumed. Tensions increased from there. Read more from The Hill's Alexander Bolton. How we got here: Trump signed an order in January freezing federal funding related to diversity, equity and inclusion (DEI). Nearly a dozen states, led by New York Attorney General Letitia James (D), have opposed the funding freeze. What Booker wants: The senator wants Trump to release a hold on funding for Democratic states such as New Jersey, California and New York, arguing the party should use its "leverage" over funding proposals. |
➤ OTHER CONGRESS TIDBITS: |
Feel better, congressman: Rep. Tim Burchett (R-Tenn.) was "accidentally kicked by a horse" and broke a rib. Baby Boomer vs. Gen Z: A Gen Z activist launched a primary challenge against longtime Rep. Jerry Nadler (D-N.Y.). New book in the works: Sen. John Fetterman (D-Pa.) is promising an "unapologetic account" of his "unconventional life" in a forthcoming memoir, dubbed "Unfettered." Texas's electoral maps: Democrats are voicing alarm over the Texas GOP's redistricting plan, which was unveiled this morning. Texas electoral maps: Texas Republicans new congressional maps today. Democrats have over the GOP redistricting plan. MTG won't run for governor: Rep. Marjorie Taylor Greene (R) is passing on a Georgia gubernatorial bid. |
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The House is out. The Senate is in. President Trump is in Washington. (All times EDT) |
This afternoon: More Senate votes are expected. 📆 Today's agenda 1:30 p.m. Trump signs a bill into law. 2:30 p.m. Federal Reserve Chair Jerome Powell holds a news conference. 💻 Livestream 4 p.m. Trump delivers remarks on "Making Health Technology Great Again." 💻 Livestream |
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🍰 Celebrate: Today is National Cheesecake Day. Sooo, Trump wants to prosecute Beyoncé: Last weekend, Trump called for the prosecution of singer Beyoncé. He claimed she was paid $11 million for endorsing Democratic presidential candidate Kamala Harris in 2024. Well, CNN fact-checked that claim and it is nonexistent. Read the factcheck and explainer ^ Good luck dealing with the Beyhive's wrath. 😅 🚀 How much do you want to bet they discussed her space trip?: Pop star Katy Perry was spotted dining in Montreal with former Canadian Prime Minister Justin Trudeau this week. A consultant for the restaurant said there were "no visual signs of PDA or anything." 📸 Photos from TMZ |
And to leave you with something useful, open this video any time you're having a bad day. |
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