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- Roger Marshall praises Trump tariff policies after Kansas executive says they hurt his business
At a Topeka event, Zac Surritt of R&S Maintenance told Sen. Roger Marshall that Trump's tariffs had reduced global demand, squeezed margins and forced the company to delay expansion plans. Marshall said this experience was likely an anomaly, since most manufacturers he has spoken with are expanding, and argued that tariffs are helping Kansas manufacturing grow. Democratic challenger Adam Hamilton said business leaders need stability, criticized the 56 tariff changes made in the past year, and called on Congress to reassert its authority over tariffs. The Federal Reserve Bank of New York estimated that tariffs imposed in 2025 and 2026 added 2.9 percentage points to inflation across a basket of 67 consumer goods, while the Tax Foundation put the average cost at $820 per household in 2026.
- Roger Marshall praises Trump tariff policies after Kansas executive says they hurt his business
Zac Surritt, a leader at Kansas metal fabrication firm R&S Maintenance, says tariffs imposed by President Donald Trump have cut global demand and margins, raised transportation and living costs for employees, and forced the company to delay expansion. Republican Senator Roger Marshall, running for reelection against Democrat Adam Hamilton, called the experience likely an anomaly since most manufacturers are expanding, and said the tariffs are bringing jobs back to America. Hamilton criticized the policy's instability, citing 56 tariff changes in the past year, and said Trump's insults toward Canada, which imports $4 billion of goods from Kansas annually, and doubts about Bombardier, which has 1,500 employees in Sedgwick County, were damaging. The Federal Reserve Bank of New York reported that tariffs in 2025 and 2026 added 2.9 percentage points to inflation across a basket of 67 everyday consumer goods, while the Tax Foundation estimated an average cost of $820 per household in 2026.
- Roger Marshall praises Trump tariff policies after Kansas executive says they hurt his business
Zac Surritt, who leads strategic growth at Kansas metal fabrication firm R&S Maintenance, told Republican Senator Roger Marshall that Trump's tariffs had cut demand and margins, raised transport costs and forced the company to delay expansion. Marshall, who is seeking reelection against Democrat Adam Hamilton, said this experience was likely an anomaly because most manufacturers he had spoken with were expanding, and argued that tariffs were helping Kansas manufacturing grow. Hamilton countered that the state's largest employers criticized the instability tariffs had created, noting 56 tariff changes in the past year, and called Trump's insults toward Canada, which imports $4 billion in Kansas goods annually, a blunder. The Tax Foundation estimated the average household cost of Trump's tariff policy at $820 per residence in 2026.
- Trump policies to cost middle - income Americans $1 , 700 more in 2026 , while richest 1 % save $12 , 560 : Report
According to a report from the Institute on Taxation and Economic Policy (ITEP), released on October 8, Trump administration policies could cost a typical middle-income American about $1,700 more in 2026, while the poorest 20% would pay about $750 more and the wealthiest 1% could save about $12,560. The analysis covers tax provisions in the One Big Beautiful Bill Act, the expiration of COVID-era ACA health insurance tax credits, and price increases tied to tariffs, the Iran war and immigration policies. For a middle-income taxpayer, the new tax law saves about $380, while price effects cost about $1,850 and the credit expiration about $230. The White House disputes this view, saying the policies helped stop inflation and support growth and jobs, and some policy experts question how the report calculates costs and benefits.
- Networks Highlight Inflation and Blame Trump Policies Ahead of Midterms
On Thursday, the ABC, CBS and NBC morning shows highlighted Wednesday's inflation report showing 3.7 percent, its highest in four months, and framed it as squeezing families and hurting Republicans before the midterms. The article cites correspondent Elizabeth Schulze saying inflation costs families an extra $250 a month versus a year ago, with gas up 34 percent, and rancher Scott Belden saying diesel costs him $1,400 more each week. It notes wages have lagged prices for six straight months. The article, which criticizes the coverage as negative and one-sided, argues the reports blamed President Trump's policies, including the Iran war and tariffs, with 19 days until the final votes.
- Media Monitor : Newsweek Newsletter Says Trump Policies Leave Americans Poorer as Midterms Near
Newsweek's newsletter The 1600 argues that the last major economic report before the midterm elections shows conditions working against President Donald Trump and his party. It says inflation rose to 3.7% from 3% on Inauguration Day 2025, real wage gains turned negative at -0.7% from 1%, and real wages have shrunk for a sixth straight month. Regular gasoline at $4.33 a gallon, diesel at $6.18 and a 30-year mortgage rate of 7.45% are all higher than when Trump took office, and core inflation rose to 2.6%, above August's 2.4%. The newsletter blames much of this on the Iran war and the energy crisis it sparked, and says the national debt has grown to $40 trillion from $35.5 trillion while GDP growth slowed to 2.3% from 3%.
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Meta is reporting its third-quarter earnings after the market closes Wednesday, and Yahoo Finance's Brian Sozzi says the report will be hard to interpret. Recent good news on Meta's AI products, including new models and an AI agent, may not appear directly in the results but will likely be discussed on the earnings call. The key uncertainty is how investors will react if Meta raises its capex outlook again: it could be seen as fueling those products, or as overspending on offerings not yet reflected in financials. Sozzi expects the market to give Meta the benefit of the doubt on higher capex, as long as the increase does not shock investors.
- Zerohash rolls out a new tool to move crypto without copying wallet addresses
Zerohash launched AUTH, a service that lets users move crypto, stablecoins and blockchain-based stock tokens between linked exchange accounts or self-custody wallets without copying wallet addresses or choosing a blockchain network. To transfer, users pick an account in an app that offers AUTH, sign in and approve the move, while the service handles routing and settlement and each app sets which assets and transfer types it allows. AUTH supports more than 600 connections, including Coinbase, Robinhood, Gemini, MetaMask and Phantom, with Coinbase, Robinhood and Gemini live and Kraken in beta. The launch comes as Zerohash's application for a national trust bank charter, returned by the Office of the Comptroller of the Currency in July, remains pending after a narrower refiling on Aug. 18.
- 2 charts show why Wall Street is right to worry about tech stocks
Rising cost of capital could affect the financial statements of hyperscalers such as Oracle (ORCL) and Google (GOOG, GOOGL) in 2027, as they need fresh debt to fund AI infrastructure and free cash flow may turn negative. JPMorgan strategist Mislav Matejka forecasts hyperscaler free cash flow will turn negative in 2027, implying credit markets will drive more of the AI build-out. Consensus estimates for 2027 capital expenditures are already rising from levels experts believe are too low. Morgan Stanley sees total 2027 capex among hyperscalers reaching $1.6 trillion, up from $978 billion estimated for this year. Dan Ives of Yorkville expects capex to reach the trillions and over 1,000 datacenters to be built in the next few years.
- Update on loan rate cuts as of the evening of Oct 19: MB, VietinBank, SHB, OCB join in
SHB, MB, VietinBank and OCB have announced loan rate cuts, following Agribank, Vietcombank, BIDV, ACB, LPBank and VietBank, with typical reductions of 1.5-2% per year. MB is cutting 1.5% per year for five priority sectors, to rates from 7.9% per year, and up to 2% in some cases; VietinBank is cutting up to 2% per year, while OCB offers up to 2.25% per year on some medium- and long-term loans for OCB Priority Banking members. SHB is cutting 1.5-2% per year for businesses and households and offers rates from 5.5% per year for lecturers and students at some universities. Vietcombank commits to cutting at least 2% through year-end, BIDV applies rates from 6% per year on short-term VND loans from 15/10/2026, and VietBank runs a VND 3,000 billion package. Specific benefits depend on borrower type, loan purpose, term and program conditions, following directives from the Government and the State Bank of Vietnam.
- Nvidia wins CPU business from Modal, previously exclusive to AMD and Intel
Modal, a San Francisco-based AI cloud startup that previously ran its AI agent workloads only on Intel and AMD processors, will begin using Nvidia's new Vera CPU. Early tests showed the Nvidia chip doubled work capacity for AI agents, and Modal plans to run it alongside Intel and AMD chips, assigning each task to the most efficient hardware, though integration requires substantial software changes. Modal recently raised $750 million in a round led by Accel at a $15.75 billion valuation and expects $1 billion in sales over the next year, with usage tripled and revenue up more than 15 times year-over-year. Nvidia projects at least $20 billion in Vera chip revenue this fiscal year in a market it estimates at about $200 billion, and says OpenAI, Anthropic, Oracle and Perplexity also plan to use the chips.
- America's EV Plans Have Died
Billions of dollars went into EV factories, dealerships and marketing after President Biden set a goal for 50% of new US car sales to be zero-emission by 2030, but EV sales have since fallen sharply. US EV sales dropped 30.7% in the first nine months of 2026, after the $7,500 tax credit expired on September 30 last year, and gas prices near $4.50 per gallon have done little to lift them. According to Kelley Blue Book, the average transaction price of a new EV was $54,754 in August, above the $50,089 average for all new cars. Ford's EV sales fell 80.2% to 6,047 in the third quarter, and it has no new EV planned until its Fathom launches next year, while Tesla holds over 50% of the market and no other major automaker has even 10%. The article says EVs could recover if gas prices reach $5 and stay there for months, but that is uncertain.
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