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GOP megadonor puts Republicans on notice of stark reality — and real battleground ahead
Ken Griffin, a wealthy investor and one of the largest Republican megadonors, conceded to CNBC's Sara Eisen on Tuesday that he expects Democrats to win the House of Representatives this fall.
"I think Trump has to deal with that reality that the American people have just had it when it comes to inflation," said Griffin. "And unfortunately, I think he's being disproportionately blamed for the diminution in purchasing power, the story of which was really written during the pandemic days of the Biden administration."
"And all the money that got injected into the economy afterwards. So, I mean, do you see the Democrats taking Congress?" asked Eisen.
"So it's almost a certainty the Democrats will take the House," said Griffin. "That's the — that's the nature of almost every midterm election cycle, is the House seats swing in the in the favor of the opposing party, the Senate will be the big battleground in this midterm."
He went on to express his confidence that Republicans could still retain control of the Senate, where Democrats would have to pick up at least four Republican-held seats without losing any of their own in battleground states.
Griffin, who runs the Citadel hedge fund, has had a complicated relationship with President Donald Trump, backing many of his policies, but also keeping him at arm's length, endorsing Florida Gov. Ron DeSantis over him in the 2024 primary, and accusing Trump of using the government to corruptly enrich himself.
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Trump frantically backtracks on core policy as beef prices skyrocket to record highs
President Donald Trump's administration will reportedly suspend some tariffs on beef amid record-high prices.
On Monday, The Wall Street Journal reported that the highest tariff "on all beef-exporting nations" would be temporarily dismantled.
The Small Business Administration was also expected to increase access to loans and capital for U.S. ranchers, the report said. The effort will reportedly include reducing protections for gray and Mexican wolves under the Endangered Species Act. Regulations on electronic ear tags for livestock would also be loosened.
Beef prices in the United States have reached record highs, driven by a combination of factors including drought conditions affecting cattle ranching, supply chain disruptions, and increased feed costs. The surge in beef prices has hit American consumers hard, with ground beef and steaks commanding premium prices at grocery stores nationwide, forcing many families to reduce their meat consumption or seek alternative protein sources.
Ranchers have culled their herds in response to prolonged drought and rising operational costs, which have constrained the overall supply of beef available to markets. Industry analysts point to climate challenges, particularly severe drought conditions in major cattle-producing states such as Texas and the Southwest, as a primary driver of reduced herd sizes and elevated prices.
The combination of supply constraints and strong consumer demand has created a perfect storm, driving beef prices to levels not seen in recent memory and raising concerns about inflation and the cost of living for American households already struggling with elevated grocery bills.
After failing to brokerage peace with Iran, Trump meets with China empty handed
President Donald Trump is scheduled to meet Chinese President Xi Jinping in Beijing for a high-stakes summit this week.
Despite the event being viewed as a potential turning point for ending the U.S. and Israeli war against Iran, reports Axios, Trump arrives without a negotiated agreement after months of failed diplomatic efforts.
The Trump administration has pursued an Iran deal since early April but rejected Tehran's counterproposal Sunday, describing it as "unacceptable."
The situation was further complicated Monday when Iranian Ambassador Abdolreza Rahmani Fazli announced Iran's readiness to support a Chinese-proposed four-point peace plan focused on establishing security and development in the Persian Gulf region, according to an automatic translation of their post on X.
The Chinese government has not publicly disclosed details of the proposal, reports The Wall Street Journal.
Iran's endorsement of China's plan, rather than Trump's, creates significant complications for the Beijing summit discussions.
Journalist Charbel Antoun wrote for The Hill, Trump enters negotiations with weakened leverage having failed to broker a deal before the meeting.
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