Today in one sentence: Inflation rose to 2.7% in June – up from 2.4% in May – as prices for tariff-sensitive goods like clothing, appliances, and toys increased; Trump asked Ukrainian President Volodymyr Zelensky is Ukraine could "hit Moscow" and St. Petersburg if the U.S. provided the long-range weapons; Trump reversed his criticism of NATO, calling the alliance "the opposite" of "obsolete" after members agreed to pay for U.S. weapons going to Ukraine; more than 75 former federal and state judges urged the Senate Judiciary Committee to reject Emil Bove’s nomination to the 3rd U.S. Circuit Court of Appeals; the Trump administration won’t publish the legally mandated National Climate Assessments on NASA’s website; Trump called for Texas Republicans to redraw the state’s congressional map to give Republicans five more House seats; and House Republicans blocked two Democratic efforts to force the release of Jeffrey Epstein-related records.

1/ Inflation rose to 2.7% in June – up from 2.4% in May – as prices for tariff-sensitive goods like clothing, appliances, and toys increased. Core inflation, which excludes food and energy, hit 2.9% year-over-year. Trump dismissed the data as “very low inflation” and demanded a three-point rate cut, saying: “Bring down the Fed Rate, NOW!!!” The Fed, however, signaled it would hold rates steady, citing uncertainty over the full impact of Trump’s tariffs. Trump said he told Fed chairman Jerome Powell he was doing “a very bad job,” and when asked if he would reappoint him, replied, “You must be kidding.” Powell has refused to cut rates, despite near-daily attacks from Trump, who has called him a “numbskull” and floated replacing him when his term expires next spring. (Associated Press / NPR / Axios / CNN / Washington Post / Politico / Wall Street Journal / CNBC / New York Times / NBC News)

  • The White House has begun the process to select a successor to Fed Chair Jerome Powell ahead of his term ending in May 2026. Treasury Secretary Scott Bessent said a “formal process” to pick a successor has begun and called for Powell to leave the board altogether, warning a former chair remaining could be “very confusing for the market.” National Economic Council Director Kevin Hassett said the administration is reviewing whether “there’s cause” to fire Powell. Trump, meanwhile, has urged Powell to resign and cited alleged mismanagement of a $2.5 billion renovation project as a possible basis for removal. He has said Powell’s successor must be willing to cut rates. (The Hill / Bloomberg / NBC News / Politico / CNBC / New York Times / Wall Street Journal)

2/ Trump asked Ukrainian President Volodymyr Zelensky is Ukraine could “hit Moscow” and St. Petersburg if the U.S. provided the long-range weapons. Trump also reportedly asked whether Ukraine could “make them feel the pain.” Zelensky replied, “Absolutely. We can if you give us the weapons.” The White House, however, said Trump was “merely asking a question, not encouraging further killing.” Trump later said Ukraine “should not target Moscow” and claimed the U.S. is “not looking to do that.” (Bloomberg / Reuters / BBC / The Hill / HuffPost / Financial Times)

3/ Trump reversed his criticism of NATO, calling the alliance “the opposite” of “obsolete” after members agreed to pay for U.S. weapons going to Ukraine. After meeting with NATO Secretary-General Mark Rutte, Trump said NATO was doing “much better” because allies are “paying their own bills.” He added, “I think collective defense is fine.” Trump and Rutte announced a plan for European countries to buy U.S. arms that NATO would send to Ukraine. (Politico / USA Today)

4/ More than 75 former federal and state judges urged the Senate Judiciary Committee to reject Emil Bove’s nomination to the 3rd U.S. Circuit Court of Appeals. In a letter, they called Bove’s conduct “egregious,” citing his role in dropping charges against New York Mayor Eric Adams, ordering deportation actions in defiance of court rulings, and targeting officials tied to the January 6 investigations. The judges also said it was “deeply inappropriate” for Trump to nominate his own former defense lawyer, warning the appointment would “compromise the integrity of the courts.” The Senate Judiciary Committee is expected to vote on the nomination Thursday. (Semafor / Axios / CNN)

5/ The Trump administration won’t publish the legally mandated National Climate Assessments on NASA’s website. NASA said it had “no legal obligations to host globalchange.gov’s data” and confirmed it wouldn’t provide the reports online, despite previously saying “All preexisting reports will be hosted on the NASA website, ensuring continuity of reporting.” Earlier this month, the Trump administration took down the website that hosted the authoritative, peer-reviewed national climate assessments, which have been published since 2000. (NPR / New York Times)

6/ Trump called for Texas Republicans to redraw the state’s congressional map to give Republicans five more House seats. “Just a very simple redrawing, we pick up five seats,” Trump said, calling Texas “the biggest one” in a broader redistricting plan. Gov. Greg Abbott scheduled a special legislative session for next week to begin the process. Democrats, meanwhile, said Republicans were trying to “rig the Texas congressional map” and “disenfranchise millions.” House Minority Leader Hakeem Jeffries said Democrats would challenge the plan in court. (Politico / CNN / Washington Post)

7/ House Republicans blocked two Democratic efforts to force the release of Jeffrey Epstein-related records. The House Rules Committee first voted 6–5 against advancing an amendment that would have required the Justice Department to publish the files online. A full House vote also failed 211–210 along party lines, after Republican leaders convinced holdouts to kill the measure. Speaker Mike Johnson, however, broke with Trump, saying “we should put everything out there,” but still voted to block the resolution. Trump, meanwhile, told his supporters to “not waste Time and Energy on Jeffrey Epstein” and said Attorney General Pam Bondi should release “whatever she thinks is credible.” Bondi declined further comment, saying the DOJ memo “speaks for itself.” (Salon / Axios / Rolling Stone / The Guardian / Washington Post / Politico / ABC News / The Hill / NPR / ABC News / CNN / NBC News)

The midterm elections are in 476 days.

Five years ago today: Day 1273: "We could go on for days."
Six years ago today: Day 907: Racist in chief.