| ◼ Just to clarify, Mr. President: When we said we wanted lower prices, we weren’t talking about stocks.
◼ President Trump is criticizing Federal Reserve chairman Jerome Powell for waiting too long to cut interest rates, which suggests that he will replace Powell and possibly even try to do so before the latter’s term expires. But Powell is right on two points: inflation is not yet safely in the rearview mirror, and Trump’s tariffs will not only raise some prices but threaten to raise expected inflation in a way that could prove self-fulfilling. Trump’s sniping is making the problem more acute: if Powell were to cut interest rates now, markets and the public would have reason to conclude that they could not trust the Fed to stay vigilant against inflation. Trump should recall that the principal reason he sits in the White House is that the public dislikes inflation, not that it enjoys his caprice.
◼ Defying the clearly expressed mandates of a statute passed recently with widespread support in Congress, Trump is delaying a ban on TikTok for another 75 days. His first 75-day extension of the ban also violated the law, which allows for a single extension up to 90 days provided that the president certifies that a serious deal is on the table. His TikTok extensions belong in the same category of executive lawlessness as former President Biden’s actions to wipe out student loan debt and President Obama’s nonenforcement of immigration law. A deal looks less likely than ever, given the ongoing trade war. The duly enacted U.S. statute is supposed to be the law of the land, not a suggestion to be heeded or ignored depending on how the president of the United States feels about TikTok.
◼ William F. Buckley Jr. warned in God and Man at Yale against the taking of public money by private universities. The consequences he foresaw have come to pass. The Trump administration, in leveraging universities’ receipt of federal funding to impose terms on them, is not writing on a blank slate but instead, in Trumpian fashion, making loud and explicit what was previously done with subtlety. The Obama and Biden administrations were relentless in using federal law to influence or outright dictate how universities were managed. Trump’s counteroffensive started with Columbia and has advanced to Harvard. We share many of the administration’s concerns and cheer its lawful actions to correct them. But the overall impact of these demands would be pervasive federal monitoring of how the university is governed. The federal government simply should not have this power. Progressives eager to preserve the same powers when they return to the White House will doubtless seek to curb Trump’s authority in this area by attacking his motives, procedures, and factual predicates rather than by going to the root of the issue. But that root, as Buckley observed, is the money itself.
◼ They knew it was a disaster before it was a disaster. When Ron Klain, President Biden’s chief of staff from 2021 to 2023 and director of debate prep for his June 2024 face-off with Donald Trump, went to Camp David to coach him, the president was “exhausted and out of it. Biden was unaware of what was happening in his own campaign. Halfway through the session, the president excused himself and went off to sit by the pool.” Two mock debates had to be cut short because Biden “was fatigued, befuddled, and disengaged. . . . Klain feared the debate with Trump would be a nationally televised disaster.” These details are excerpted from a new book by Chris Whipple, Uncharted: How Trump Beat Biden, Harris, and the Odds in the Wildest Campaign in History, and Klain has already tried to walk them back, saying that he did not mean to tell Whipple that Biden lacked mental acuity, only that he had been “sidelined” by White House staff — i.e., kept from understanding his own campaign or the state of domestic politics. That explanation is just another indictment. Only now do members of Biden’s inner circle admit what was evident to anyone with eyes and ears, that the old man was like a cracked piece of china, carried from day to day by anxious handlers. They wanted to keep Trump out of office, and themselves in. Their reward was defeat.
◼ The House passed, 220–208, the Safeguard American Voter Eligibility Act, which would require those registering to vote to produce proof of citizenship. It is already illegal under federal law to claim falsely to be a U.S. citizen. A commonsense legislative step to make the U.S. Code more enforceable should be uncontroversial. And it is, among the American public: About two-thirds of likely U.S. voters surveyed in April by Rasmussen Reports favor the SAVE Act. The controversy is concentrated in the media and among Democratic lawmakers. Only four House Democrats joined Republicans to pass the bill, one fewer than the five who had done so during the previous Congress. Opponents note that many Americans don’t have passports, and they panic on behalf of married women whose IDs list names different from those on their birth certificates. But U.S. citizens who care to vote can make easy fixes, as the 36 states that have passed voter-ID requirements have already proven.
◼ Trump signed memoranda ordering the attorney general, the director of national intelligence, and others to investigate two men: Chris Krebs and Miles Taylor. The former was the head of the Cybersecurity and Infrastructure Security Agency at the Department of Homeland Security; the latter was chief of staff in the same department. Their offenses? In the relevant memo, Trump said that Krebs had “falsely and baselessly denied that the 2020 election was rigged and stolen.” Taylor, meanwhile, might be guilty of no less than treason (according to the president). In 2018, Taylor published an op-ed anonymously, warning that the chief executive — namely, Trump — was lawless. He followed that up with a book, also published anonymously, titled A Warning. Neither Krebs nor Taylor has been charged with any crime. President Trump ought to be careful, lest he prove Taylor’s point. |