The U.S. housing market faces mounting pressure as existing home sales unexpectedly declined in June, driven by record-high prices and elevated mortgage rates. While the economic outlook remains cautious, the federal government continues to navigate significant policy shifts. The Commerce Department has concluded its probe into imported aircraft parts, opting against new tariffs, even as the administration maintains a firm stance on domestic social issues. Notably, the Department of Justice has secured a settlement to end diversity-based admissions at a New Jersey prep school, signaling a broader crackdown on DEI practices.
Legal and legislative developments are dominating the capital. A federal judge has authorized the payout of a $5.8 million judgment to E. Jean Carroll against Donald Trump, while the former President prepares to challenge the Supreme Court on birthright citizenship rulings. Meanwhile, in Maine, the Democratic Party is scrambling to replace Senate candidate Graham Platner following his withdrawal amid sexual assault allegations. These developments coincide with a tense atmosphere in the Senate, where Republican Mitch McConnell remains absent due to undisclosed health issues, complicating upcoming votes on defense and security legislation.
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