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Ken Griffin sees trouble ahead for Republicans and says Donald Trump’s fights with America’s allies are part of the problem.
The Citadel CEO told Bloomberg's Dani Burger on Tuesday at the Future of Global Markets Conference in New York that Trump’s tariffs have fueled inflation and disrupted supply chains as the party heads toward a difficult midterm election.
“I think that the tariff battles with Canada, with Europe, with our allies has just been a disaster,” Griffin said. “I talked about this when he first started this in his presidency. To be blunt, I hate to say it, but I've been right.”
“It's been pro-inflation. It has certainly taken supply chains around the world and severed them,” Griffin, who said he has been supporting a number of Republican candidates this election cycle, added.
Trump's trade disputes with Canada and the EU remain unresolved. The president announced an additional 50% tariffs on certain imports from Canada on July 20, citing what he described as discrimination against American auto, alcohol, and dairy exports. Those duties took effect in August.
The economic backdrop is also challenging. US consumer prices rose 3.7% in September from a year earlier, while inflation has erased nearly all of the average worker’s hourly wage gains since Trump returned to office. Fuel affordability and the lack of housing supply have become pain points for Republicans in the midterms.
Griffin predicted Republicans would almost certainly lose control of at least one chamber of Congress, describing the midterms as a check on the party in power.
“The House almost is in a really tough spot and the Senate's going to be really close," Griffin said.
Griffin also has thoughts on Trump’s explanation of the war in Iran and called the administration’s treatment of immigrants "disgraceful."
"The war in Iran is very unpopular. I think he's done a very poor job of explaining why," Griffin said. "I think the president has not made that case in a powerful, meaningful way to the American people."
Griffin said he believes in securing the border, but immigrants who are already here should be offered "a path to being a contributing member of our society" and help "grow our economy."
"If you are here with your family or by yourself and you are gainfully employed and you are working to find a better life for your family, there needs to be a way to stay in our country," Griffin added.
The Republican Party of Kentucky is the first GOP state party in the nation to run a coordinated broadcast ad buy this year, with the two entities teaming with 6th District Congressional nominee Ralph Alvarado in his bid to represent the Bluegrass State in Washington.
The post Kentucky Republican Party and Alvarado Campaign Link Up in Coordinated Ad Buys for House Race appeared first on Breitbart.
This story originally appeared in Common Dreams on July 23, 2026. It is shared here under a Creative Commons (CC BY-NC-ND 3.0) license.
Press freedom groups are issuing dire warnings on Thursday that House Republicans’ efforts to subpoena the nonprofit left-wing news organization BreakThrough News represent a dangerous new step in a McCarthyite war on political dissent.
On Wednesday, Fox News reported that BreakThrough, a New York-based outlet, was one of three nonprofits that had been issued subpoenas by the GOP-controlled House Ways and Means Committee as part of an investigation into $39 million worth of donations from tech mogul Neville Roy Singham, a self-described socialist who has used his wealth to fund left-wing nonprofits.
In letters sent Tuesday, the committee, led by Rep. Jason Smith (R-Mo.), said that BreakThrough, as well as two other organizations—the People’s Forum Inc., a New York-based activist hub, and Tricontinental: Institute for Social Research—had not turned over any documents that had been requested as part of an investigation into whether rules around tax exempt status for nonprofits should be tightened to protect against foreign influence.
The committee has accused Singham, an American who now lives in Shanghai, of exploiting the tax code and using shell companies and donor-advised funds to hide foreign money that has been used to promote the interests of the Chinese Communist Party. It does not, however, make any specific accusation of legal wrongdoing.
The subpoena requires BreakThrough News to turn over records about its finances, foreign donors and grant recipients, fiscal-sponsorship arrangements, and communications with Singham and any foreign entities.
BreakThrough News is under attack.
— BreakThrough News (@BTnewsroom) July 23, 2026
The House Ways and Means Committee has made us the target of its latest witch hunt. We're not going down without a fight.
Go to https://t.co/2mYEsl3MYA and:
1- Add your name to the petition calling on the House Ways and Means Committee to… pic.twitter.com/Vr8uELkJJW
In a statement on Wednesday, BreakThrough News said it was “under attack.”
“For years, Republican lawmakers have painted a target on our backs, falsely claiming that our political views and reporting are part of some foreign plot,” the outlet said. “Now, the MAGA-dominated House Ways and Means Committee has issued us a subpoena—demanding internal communications, financial records and more. Make no mistake, this is a flagrant abuse of power, and a direct attack on our work as journalists and on the First Amendment generally.”
BreakThrough said it does not receive any funding from foreign governments or institutions and that it already complies with all the tax and public reporting requirements that nonprofits have to follow.
“We are not charged with any crime, because our only ‘crime’ has been to tell the truth–by covering the activities of the Palestine solidarity movement, unmasking the truth of ICE’s terror in our streets, and exposing Washington’s crimes around the world, from Cuba to the Congo,” the outlet said. “That’s the journalism they want to shut down. Their goal is to saddle us with legal proceedings and hostile media to drain our resources and stop this important work.”
While the committee stated that they are investigating BreakThrough over its financing rather than its politics, letters sent to the organization have treated the content of its reporting as circumstantial evidence of malign foreign influence, referring to it as “anti-American” and claiming that its negative coverage of Israel was “sowing division within the United States.”
Chip Gibbons, the policy director of the free speech advocacy group Defending Rights & Dissent, told Common Dreams that the subpoena of BreakThrough was a “deeply chilling assault on the First Amendment.”
“Such tactics are, quite literally, a throwback to the House Un-American Activities Committee, which today is mostly viewed as a disgrace,” Gibbons said. “I say mostly, because just three days ago [Secretary Marco] Rubio’s State Department released a report preposterously attacking the US left, including some of these groups, as Cuban fronts that cited old HUAC reports.”
He further emphasized in a press release that there was “no plausible need” for a news organization to provide documents as part of a broad congressional inquiry.
“The only thing these groups are accused of is essentially receiving donations from a US citizen who has been the subject of an intensive campaign of demonization,” Gibbons said. “It is lawful for Americans to donate to activist causes and media projects while holding views disfavored by Congress. This is clearly not a valid legislative inquiry at all, but an attempt to intimidate and chill dissenting opinions.”
Seth Stern, the chief of advocacy for the Freedom of the Press Foundation, agreed that “Congress shouldn’t be using a tax investigation as a pretext to dig through a newsroom’s internal communications or financial records.
“Freedom of the press,” he said, “applies to all journalists, regardless of whether politicians like their editorial slant or their politics.”
House subpoena of @BTnewsroom threatens press freedom.
— Freedom of the Press Foundation (@FreedomofPress) July 23, 2026
We strongly urge the House Ways and Means Committee to withdraw its subpoena against BreakThrough News and stop using congressional oversight as a tool to retaliate against independent media.https://t.co/xPZgHkLPZd
In what it has portrayed as a fight against “left-wing terrorism,” the Trump administration has increasingly blurred the lines between violent activity and protected political speech that they claim “incites” violence.
National Security Presidential Memorandum 7, signed by Trump in September, designates large swathes of left-wing viewpoints on race, gender, immigration, and other topics as “indicators” of domestic terrorism that have been used to link entire groups of people to violent acts they themselves did not commit.
Rubio said last week that the administration would soon be designating more left-wing organizations as terrorist groups, while senior Trump adviser Stephen Miller said that the full force of the state would be used to “disrupt, identify, defund, de-bank, arrest, prosecute” those deemed to “foment” political violence, not just those who actually commit it.
He has previously pledged to use the law to “dismantle” organizations that use heated rhetoric to refer to their right-wing opponents, including calling them “fascist” or “authoritarian.”
Nora Benavidez, senior counsel at Free Press, described the subpoena of BreakThrough as an extension of a “retaliatory ethos” Trump has taken towards critical journalists “with the goal of shutting down criticism and dissent.”
She told Common Dreams, “BreakThrough News is not the first, nor will it be the last, to come under official attack for bringing people alternative and useful news coverage about ICE abuses, foreign policy, Palestinian rights, and other topics.”
“Allowing a congressional committee to harass an independent newsroom with a broad subpoena sets an awful precedent,” Stern said. “If lawmakers can abuse tax oversight to single out outlets whose reporting offends them today, no newsroom in America is safe from government intimidation tomorrow.”
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