John Bolton's no good, very bad day
Happy Friday! Isn’t everything just brighter and cheerier in the summer? ???? Days are longer, no need for layers, ice cream nights, etc. I’m talking directly to everyone who orders fall drinks at coffee shops in August. (Editor Emily Martin here, chai latte in hand, so badly wants to cut this line from the newsletter.) In...
Happy Friday! Isn’t everything just brighter and cheerier in the summer? ???? Days are longer, no need for layers, ice cream nights, etc. I’m talking directly to everyone who orders fall drinks at coffee shops in August. (Editor Emily Martin here, chai latte in hand, so badly wants to cut this line from the newsletter.)
In today's issue:
- FBI raids John Bolton’s home
- Trump accuses Bolton of being ‘unpatriotic’
- Powell signals interest rate cut (!)
- President threatens to fire Fed governor
- Cracker Barrel dragged over logo redesign
???? NEWS THIS MORNING
Why John Bolton is having a bad morning:
FBI agents raided the home of President Trump’s former national security adviser John Bolton this morning.
Why?: The search is related to classified documents, two sources told NewsNation. The Associated Press reports that Bolton was not detained and has not been charged with any crimes.
???? Footage of the FBI raid in Bethesda, Md.
FBI Director Kash Patel posted a pretty cryptic message just after 7 a.m.: “NO ONE is above the law… @FBI agents on mission.”
Bolton then bashed Trump shortly after: “Russia has not changed its goal: drag Ukraine into a new Russian Empire. … Meanwhile, meetings will continue because Trump wants a Nobel Peace Prize, but I don't see these talks making any progress.”
For context: Bolton has frequently clashed with Trump since serving in his first administration. When Trump returned to office in January, he yanked Bolton’s security clearance and Secret Service protection. This is notable because Bolton faced assassination threats from Iran due to his hawkish stance toward the country.
????️ Follow today’s live blog
➤ LATE THIS MORNING — TRUMP WEIGHS IN:
Trump said he was not given advance notice of the Bolton raid. He called his former national security adviser a “low-life” and suggested he could be “very unpatriotic.”
“He’s not a smart guy. But he could be a very unpatriotic guy. We’re going to find out. I know nothing about it. I just saw it this morning, they did a raid,” Trump told reporters when asked about the search.
What happens now?: Trump said he expects the Justice Department (DOJ) to brief him later today.
➤ THROWBACK:
I’ve seen lots of renewed attention today on Trump’s past criticism of Bolton. Trump has previously called for him to face jail time over what he published in his 2020 book, “The Room Where It Happened.”
Trump said in 2020 about Bolton’s book: “He released massive amounts of classified, and confidential, but classified information. That’s illegal, and you go to jail for that.”
Canada is ditching some of its U.S. tariffs:
Canada will remove its 25 percent retaliatory tariffs on some American goods, according to The Wall Street Journal.
Which products?: “[The] decision affects about $21 billion of U.S. exports to Canada, on goods such as orange juice, peanut butter, wine, spirits, beer, appliances and motorcycles.”
Which products *aren’t* included: Canadian tariffs will remain on U.S. steel, aluminum and automobiles.”
Timing: “The move comes the day after Prime Minister Mark Carney and President Trump spoke for the first time since the two countries failed to reach a trade deal before an Aug. 1 deadline.” (WSJ)
This venue reminds me so much of ‘Succession’:
Federal Reserve Chair Jerome Powell sent a signal this morning that the Fed may soon be ready to cut interest rates.
How Powell described Trump’s economic policies: “There is significant uncertainty about where all of these policies will eventually settle and what their lasting effects on the economy will be,” Powell said.
How this came up: Powell spoke at top economists’ annual economic policy symposium in Jackson Hole, Wyo. (Reminder: This is Powell’s last speech at this event. His term ends in May.)
^ The more I see of this symposium, it reminds me so much of when the Roy children showed up at the GoJo corporate retreat in Norway.
???? For context: Wall Street investors were hanging on every word. The big question is whether Powell will lower interest rates in September. For what it’s worth, most economists think Powell will cut rates, MarketWatch reports.
???? Read his remarks
➤ ALSO HAPPENING TODAY:
The Republican National Committee (RNC) elected Florida state Sen. Joe Gruters (R) as its new chair. Keep in mind that Trump endorsed Gruters.
???? IN THE WHITE HOUSE
Tour de Washington:
President Trump took a surprise jaunt around Washington, D.C., this morning. He made a stop at the People’s House, a museum of the White House.
He then hopped in the Beast, the presidential limo, and drove over to the Kennedy Center, briefly speaking to reporters. What was noteworthy:
- Trump threatened to fire Federal Reserve board member Lisa Cook if she doesn’t resign.
- Trump said he would ask Congress for $2 billion to clean up Washington.
???? Watch it live
➤ TIMING
Trump visited federal law enforcement at a U.S. Park Police operations center in Anacostia on Thursday.
???? IN THE WHITE HOUSE
Would you like to see a list of museum exhibits the president doesn’t like?:
The White House unveiled a list this morning of 20 Smithsonian exhibits the Trump administration alleges are objectionable due to “ideological narratives.”
Like?: “Items categorized as unacceptable include an exhibit at the National Museum of the American Latino that portrays the U.S. as stolen land and characterizes U.S. history as rooted in ‘colonization.’ The administration also slammed the National Museum of American History for their depiction of Benjamin Franklin, a founding father, as a slave owner and took issue with the stance that his ‘scientific accomplishments were enabled by the social and economic system he worked within.’”
Plus: “A separate notation critiques an art piece showcasing migrants watching July 4 fireworks ‘through an opening in the U.S.-Mexico border wall,’ which reportedly states that America’s founders ‘feared non-white immigration.’ Other issues highlighted focus on support for transgender communities.” Read more
????See the list
???? REDISTRICTING BATTLE
Texas Republicans are plowing ahead:
Republican state lawmakers in Texas are expected to approve the new voting maps later today.
Timing: This comes after California passed a dueling plan, teeing up a national redistricting war ahead of the 2026 midterms.
➤ MORE READS:
The Hill: Doctors take on RFK Jr. on back-to-school COVID vaccines
The Wall Street Journal: Hispanic Voters in Texas Are Starting to Turn on Trump
The Washington Post: Newsom is trying to make California map campaign all about Trump. Will it work?
The Atlantic: The AI Doomers Are Getting Doomier
COMING UP
The House and Senate are out. ???? President Trump is in Washington. (All times EST)
Noon: Trump makes an announcement from the Oval Office. ???? Livestream
???? INTERNET BUZZ
???? Celebrate: Today is National Bao Day. And for weekend planning purposes, Sunday is National Waffle Day!
???? Cracker Barrel is getting dragged: The southern “old country store” restaurant Cracker Barrel changed its logo to a clean, more modern look. It’s angered some loyal fans and has become a partisan flashpoint for conservatives, arguing it’s “woke.” The company’s stock then plunged. ???? See the new vs. old logo
???? AND FINALLY…
To get your weekend off to an entertaining start, watch this cat bravely face its fears.
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