GOP holdouts stall Trump agen0da into the night, with outcome uncertain [The Hill]
Three hard-line conservatives — Reps. Keith Self (R-Texas), Andrew Clyde (R-Ga.) and Victoria Spartz (R-Ind.) — voted against the rule, along with centrist Republican Rep. Brian Fitzpatrick (Pa.). Nine other Republicans declined to vote altogether, denying Republican leaders the majority needed to open debate on the megabill…. The impasse has forced Speaker Mike Johnson (R-La.) into a game of chicken, with leaders vowing to hold the vote open indefinitely in an effort to force the holdouts into a change of heart.
The US economy added a stronger-than-expected 147,000 jobs in June and the unemployment rate fell to 4.1% [CNN]
The unemployment rate ticked down to 4.1% from 4.2%…. Last month’s gains, which landed above expectations for 117,500 jobs to be added, marked a slight increase from May’s total, which was revised up slightly (5,000 jobs) to 144,000. April’s job gains were revised higher by 11,000 jobs, for a net gain of 158,000.
More Trump voters say he is more responsible than Biden for economy: Survey [The Hill via Yahoo!]
In a post on Truth Social in late April, Trump wrote, “This is Biden’s stock market, not Trump’s.”
Survey respondents were asked in both polls whether they agree with that statement — but were not told that Trump said it.
In the previous poll, 41 percent of Trump voters said they agreed with the statement, while 36 percent disagreed./In the latest survey, as the stock market hits record highs, 46 percent of the president’s supporters say they disagree with the statement and 29 percent said the opposite.
JPMorgan Is Revamping Its Bank for the Superrich to Cater to Global Clientele [WSJ]
[Mary] Erdoes announced internally that David Frame would become global head of the private bank, a new role inside the organization…. “The wealthier you get, the more you feel you’re a citizen of the world,” Frame said in an interview. “If that doesn’t happen with the first generation of a family, it starts to happen with the second and the third.”
Powell Silence on His Future Complicates Trump Fed Chair Search [Bloomberg]
The Fed chief has repeatedly declined to say whether he will step down when his four-year term as chair expires in May, or remain on the Fed board — something he could technically do until his tenure as a governor expires in January 2028. The prospect of Powell remaining at the central bank has prompted administration officials to begin planning for multiple scenarios for his replacement….
Millennium stake sale hints at hedge fund woes [Reuters Breakingviews]
Despite years of hype over the model he helped to pioneer, this looks less like a cash grab and more like a crack in the $4.5 trillion hedge fund façade.
Fourth of July barbeque prices have risen since Trump imposed tariffs, congressional analysis says [CNBC]
The total cost of a typical grocery trip for a cookout has increased by a 12.7% annualized rate since President Donald Trump’s sweeping tariff announcement in April…. Since April 1, Amazon listings for a Coleman foldable camping chair increased 47.7% and a 25-piece griddle accessories kit increased 17.7%, according to the report.
How Trump’s China Tariffs Are Jeopardizing America’s Fireworks Extravaganzas [NYT]
The pyrotechnics sector, which is heavily reliant on imports from China, had been increasingly loud about its concerns. The higher prices are already straining the mom-and-pop fireworks shops that dot roadsides across rural America, and the budgets of cities and towns that put on splashy displays could soon be further stretched.
But the bigger fear is 2026, as industry representatives warn that many of the festivities that are in the works to celebrate the nation’s 250th birthday could be diminished or even go dark.
