Hello — Major Garrett in Washington. Welcome to The Takeout.
Shoppers in Pennsylvania described rising food costs and changing habits. Nancy Cordes spoke with grocery customers near a Trump rally in northeastern Pennsylvania who said prices are squeezing household budgets. Navy retiree Lori Kerrigan said pepper prices jumped from about $1.90 to $4.99, prompting substitutions and careful tracking of affordable items. Retired teacher Anne Marie Hadley said promises to lower costs haven’t materialized and gave the economy a D. Paul Naughton, an environmental services technician, said his investments were doing well and graded his personal finances a B. Radiology scheduler Julie Carden reported her grocery bill had doubled and blamed tariffs.
The Federal Reserve cut the federal funds rate by a quarter point, as markets expected. Beyond the rate move, the Fed’s updated projections painted a slightly rosier picture: stronger growth expectations and lower inflation forecasts aimed at moving inflation closer to the 2% target. Chair Jerome Powell said the Fed is “well positioned” to watch how the economy evolves; officials signaled only one cut next year in their dot plot. Markets are parsing a mix of optimism and caution, and the Fed stressed it still needs fresh data to set a clearer path.
At the White House, President Trump told reporters U.S. forces had seized a very large oil tanker off Venezuela, calling it “the largest one ever seized” and promising more details later. He declined to disclose the reasons or destination, saying simply, “follow the tanker.” Attorney General Pam Bondi posted video showing helicopters boarding a ship and U.S. personnel taking control; at the time, the White House and Pentagon had not provided full independent confirmation.
On Federal Reserve leadership, the president has met with potential candidates, including Kevin Warsh, and said he wants a Fed chair more aggressive about keeping U.S. interest rates low relative to the rest of the world. He signaled a preference for a leader focused on maintaining very low U.S. rates globally.
A deadline is approaching to extend enhanced Affordable Care Act premium tax credits. A recent Government Accountability Office report flagged vulnerabilities and potential fraud in the system that paid out about $124 billion last year, citing instances of payouts linked to deceased individuals or fictitious applicants. Kansas Republican Senator Roger Marshall said rooting out fraud is essential. He supports shifting subsidy dollars into health savings accounts, increasing price transparency, and giving patients more control — reforms he says would lower costs. Marshall warned enhanced credits expire Dec. 31 and said premiums would rise without congressional action; he acknowledged his plan lacks the votes now but said momentum is building. On immunization scheduling, he defended physicians’ authority and suggested delaying hepatitis B for healthy newborns until risks are assessed.
In Miami’s mayoral race, Democrat Eileen Higgins defeated Trump-endorsed Emilio Gonzalez by a wide margin. Higgins emphasized building affordable housing and criticized recent immigration enforcement as “inhumane and cruel,” saying immigrant families fear raids and separations. She framed her victory as a choice for practical governance over theatrics or corruption, highlighted a track record of producing thousands of affordable units at the county level, and said any use of public land for a presidential library should include compensation to serve community needs such as education and housing.
Rep. Marjorie Taylor Greene discussed her public split with former President Trump and defended her critiques of GOP leadership and strategy. She said affordability is a top concern for voters and disputed Trump’s glowing economy grade, citing higher utility and grocery bills. Greene warned Republicans could lose ground in 2026 because of messaging and candidate selection problems while continuing to back an “America First” populist economic approach. She also criticized Speaker Mike Johnson for failing to build consensus.
CBS News will air a town hall with Erika Kirk, the widow of Charlie Kirk, focused on the aftermath of his death, the online dehumanization that preceded it, and reactions from those who justified the killing. The program, moderated by CBS News editor-in-chief Bari Weiss, will include discussion of Charlie Kirk’s final book, Stop In the Name of God—Why Honoring the Sabbath Will Transform Your Life.
There’s a push to move North Carolina to the front of the Democratic primary calendar in 2028. Supporters argue North Carolina is fast-growing, diverse, and a frequent battleground for presidential, Senate, and governor races, making it a useful early test of electability. They note the South’s demographic weight and North Carolina’s mix of military bases and historically Black colleges and universities. Opponents point to New Hampshire’s law requiring it go first and to competing bids from other states like Michigan. Advisers from both parties said reshuffling early states could broaden how candidates are vetted beyond Iowa and New Hampshire.
College-football commentator Paul Finebaum said he considered a Republican Senate bid in Alabama but declined after operatives urged a campaign framed around cultural-war attacks — tactics he felt would betray his relationships and principles. Finebaum said he couldn’t “burn down” institutions that had given him opportunities. He also criticized Notre Dame’s complaints about being left out of the College Football Playoff, arguing the school’s nonconference status and late-season résumé didn’t support its public outcry.
That’s The Takeout. We aim to listen, provide context, and raise the questions you want answered. The Daily Report follows.