ABC News examines how President Donald Trump’s economic policies may affect the 2026 midterm elections. Reporter Alex Presha looks at voters’ economic concerns, and KPMG chief economist Diane Swonk discusses interest rates, consumer confidence and financial uncertainty.
Key Facts
The report focuses on the potential effect of Trump’s economic policies on the midterms.
ABC News reporter Alex Presha examines voters’ economic concerns.
A new book by Matthew Cole alleges that Jared Kushner had access to bank accounts funded by Gulf states during Donald Trump’s first term. Kushner calls the claims false, says the book offers no evidence, and has demanded a retraction and threatened legal action; the article notes that the book relies mainly on anonymous sources and does not reproduce supporting documents.
Key Facts
The book is titled *Princes and Thieves: Jared Kushner and Mohamed bin Zayed’s Secret Plot to Remake the Middle East*.
Vanity Fair published an excerpt last Thursday, and the book was released in the United States this week.
Cole alleges that Emirati and Saudi leaders set up two accounts for Kushner during Trump’s first term.
The book alleges that Kushner partly managed the accounts using an iPhone hacked by Russian and Dutch intelligence.
Kushner called the claims false, said he cooperated with investigations, and denied that the alleged events occurred.
Kushner has demanded that Vanity Fair retract the excerpt and threatened legal action against publisher Simon & Schuster.
An attorney representing Trump told Cole that Kushner made no unauthorized arrangements with foreign officials and that no such accounts existed.
The article says Cole’s sources are predominantly anonymous and that the book does not include images of emails or other documents supporting its reporting.
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President Donald Trump called on Mary Peltola to leave Alaska’s Senate race and be prosecuted. He made the comments in response to a New York Times report that Peltola’s campaign helped recruit another candidate named Dan Sullivan to run against Republican incumbent Dan Sullivan.
Key Facts
Trump made the comments on Wednesday.
Peltola is a Democrat running for the U.S. Senate in Alaska.
Dan Sullivan is the Republican incumbent senator from Alaska.
The New York Times reported that Peltola’s campaign was involved in recruiting a second candidate named Dan Sullivan.
The reported effort aimed to confuse voters, according to the article.
Trump called for Peltola to drop out of the race and be prosecuted.
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Meta and Snap are returning to a Los Angeles court for a trial in a lawsuit alleging that their social media platforms were deliberately designed to be addictive to young users. The article does not provide further details about the case or the trial.
Key Facts
Meta is involved in the lawsuit.
Snap, the company behind Snapchat, is involved in the lawsuit.
The trial is taking place in Los Angeles.
The lawsuit alleges that the platforms were intentionally designed to be addictive for young users.
The companies are heading back to court this week for the latest trial in the case.
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A CBS News interview with writer Thomas Chatterton Williams examines violent protests in France. The program links the unrest to a stagnant economy and France’s history of revolt, and Williams describes the country as being at a critical point.
Key Facts
The segment is part of CBS News' "Great Question."
Thomas Chatterton Williams is the guest.
The discussion focuses on violent protests in France.
The program describes the protests as the worst in years.
The segment identifies France's stagnant economy as a factor in the unrest.
The program also points to France's history of revolt.
Williams says France is on a knife's edge.
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Defense Secretary Pete Hegseth traveled to the Philippines and sought to reassure Southeast Asian partners that the United States remains committed to its allies in the Asia-Pacific. He also proposed a defense framework to guide cooperation over the next few years and described the Trump administration’s approach as “strong, quiet and clear.”
Key Facts
Hegseth made the remarks during a trip to the Philippines.
He sought to reassure Southeast Asian partners about U.S. commitment to its allies in the Asia-Pacific region.
Hegseth proposed a defense framework for cooperation in the coming years.
He described the Trump administration’s approach as “strong, quiet and clear.”
The article identifies Hegseth as the U.S. defense secretary.
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Alvin K. Hellerstein, a Manhattan federal judge who handled cases involving President Donald Trump, former Venezuelan President Nicolás Maduro and the Sept. 11 attacks, died Wednesday at age 92. Chief Judge Laura Taylor Swain said he died surrounded by family and praised his service to the court, which continued until his death.
Key Facts
Hellerstein served on the federal bench for nearly three decades.
His cases involved President Donald Trump, former Venezuelan President Nicolás Maduro and the Sept. 11 attacks.
He died Wednesday morning at age 92.
He was surrounded by family when he died.
Chief Judge Laura Taylor Swain announced his death in a statement.
Hellerstein's funeral is scheduled for Thursday at Riverside Memorial Chapel in Manhattan.
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Early voting is underway for the 2026 U.S. midterm elections, with Election Day set for Nov. 3. The results will shape control of Congress and influence national and local policies during the final two years of President Donald Trump’s term.
Key Facts
All 435 seats in the House are on the ballot.
Voters in 35 states will elect senators, and voters in 36 states will choose governors.
More than 150 ballot measures are on ballots across 40 states.
In the 2022 midterms, 46% of eligible voters cast ballots, compared with 65% in the 2024 presidential election.
The article says the president’s party has lost seats in 37 of the past 41 midterm elections.
Several recent congressional races were decided by narrow margins: six votes in an Iowa House race in 2020, 546 votes in a Colorado race in 2022, and 187 votes in a California race in 2024.
The article reports that a CBS News/YouGov poll found most voters did not believe either party had a plan to make people better off.
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The parents of Alex Pretti, a Minneapolis nurse killed by federal immigration agents, accused the Justice Department of protecting those responsible for his death. They said the department has misled them and refused to provide answers about the ongoing investigation.
Key Facts
Alex Pretti was a Minneapolis nurse.
Federal immigration agents shot and killed Pretti earlier this year.
Pretti’s parents accused the Department of Justice of protecting those responsible for his death.
His parents said the department has refused to provide answers about the investigation.
The investigation is ongoing.
Pretti’s parents said officials ignored and misled them.
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Villa Vie Residences suspended its three-year cruise voyage in Cambodia because of rising fuel costs. The halt forced hundreds of passengers to disembark.
Key Facts
Villa Vie is a U.S. cruise ship.
The ship had promoted its cabins as floating homes.
The voyage was planned to last three years.
Villa Vie suspended operations while in Cambodia.
The company cited rising fuel costs for the suspension.
Hundreds of passengers had to disembark.
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The Southern Poverty Law Center asked a judge for permission to subpoena a former informant, arguing that the Justice Department has let him choose what evidence to provide in its case against the group. The SPLC says the informant has shared documents, recordings and investigative briefings with prosecutors; the group and its former executive have pleaded not guilty to the charges against them.
Key Facts
The SPLC’s lawyers asked the judge to require the informant to preserve his original documents and allow the defense to subpoena him.
The defense identifies the former informant as “F-9” and alleges that he selectively provided material to federal investigators without a subpoena or search warrant.
According to the defense filing, F-9 met with the government more than 20 times since November 2025 and exchanged about 1,800 text messages with lead FBI and IRS agents.
The defense says F-9 gave the government four intelligence briefings accompanied by 162 pages of PowerPoint slides about possible charges, evidence, witnesses and investigative leads.
The indictment accuses the SPLC of 11 counts involving wire fraud, bank fraud and conspiracy to commit money laundering; the group has pleaded not guilty.
Prosecutors also charged former SPLC executive Heidi Beirich with conspiracy to commit wire fraud and conspiracy to make false statements to a federally insured bank; she has pleaded not guilty.
The indictment alleges that Beirich had a romantic relationship with F-9 and describes him as an informant who infiltrated the neo-Nazi group National Alliance.
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A collision between two high-speed trains in central Spain killed at least 68 people and injured dozens on Wednesday. Spain’s transport minister said a computer failure stopped one train, then a control centre instructed trains to move without speed restrictions; authorities are investigating the crash.
Key Facts
The crash happened shortly after 09:00 local time, about 140km south of Madrid.
A Madrid-to-Seville train operated by state-owned Renfe struck an Iryo train that had stopped on the tracks.
The Iryo train had 147 passengers aboard; the Renfe train carried 397 passengers.
Several carriages fell down an embankment, and one caught fire.
Spain’s transport minister said a computer failure was followed by a control centre’s decision to let trains move without speed restrictions.
Emergency crews sent ambulances and a helicopter to the crash site; the Civil Guard said DNA samples from relatives would be needed to identify some victims.
Prime Minister Pedro Sánchez visited the crash site and said Spain was grieving.
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Costa Rica has transferred its first 123 inmates to a new maximum-security prison near San Jose. The facility, built with help from El Salvador, is part of President Laura Fernandez’s tougher approach to organized crime and is intended to ease prison overcrowding.
Key Facts
The prison is called the High-Containment Center Against Organized Crime, or CACCO.
Costa Rica’s Justice Ministry shared images of 123 inmates at the facility on Tuesday.
The prison can hold up to 5,100 inmates.
Construction cost $35 million, and President Laura Fernandez inaugurated the prison on October 15.
Justice Minister Gabriel Aguilar said the prison would help reduce overcrowding.
Costa Rica recorded 905 homicides in 2023, 876 in 2024, and 873 in 2025.
Authorities attribute most killings to disputes between criminal groups over drug routes and markets.
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The Federal Reserve held interest rates steady on Wednesday after raising borrowing costs in September to curb inflation. CBS News reporter Kelly O’Grady explained the decision in a video segment.
Key Facts
The Federal Reserve kept interest rates unchanged on Wednesday.
The Fed had raised borrowing costs in September.
The September rate increase aimed to curb inflation.
The article describes inflation as high but gives no inflation rate.
CBS News reporter Kelly O’Grady discussed the Fed’s decision.
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The expiration of enhanced Affordable Care Act (ACA) premium tax credits at the end of 2025 means eligible marketplace customers face less generous subsidies and higher premium contributions for 2026 coverage. Economic analyses estimate that the resulting costs could reduce consumer spending, affect businesses and healthcare providers, and lead to job and economic losses.
Key Facts
IMPLAN estimated that higher ACA marketplace premiums could lead to more than 1,500 job losses and about $60 million in lost gross domestic product.
The enhanced premium tax credits began under the 2021 American Rescue Plan and were extended through 2025 by the Inflation Reduction Act.
The enhanced credits expired at the end of 2025, but ACA premium tax credits did not end entirely; subsidy rules reverted to less generous provisions.
The Congressional Research Service said eligible households buying 2026 coverage would face larger premium contributions and smaller subsidies.
The Commonwealth Fund and George Washington University's Milken Institute School of Public Health projected nearly 340,000 fewer jobs nationwide in 2026 because of the credits' expiration.
That research projected a $31 billion reduction in federal marketplace subsidy funding, a $40.7 billion contraction in state economies, and $2.5 billion less in state and local tax revenue in 2026.
The Commonwealth Fund and George Washington University study estimated that slightly less than half of the projected job losses would be in healthcare.
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CBS News correspondent Riley Callanan spoke with potential voters about feeling discouraged ahead of the upcoming midterm elections. The video is 3 minutes and 43 seconds long.
Key Facts
The report is from CBS News.
Riley Callanan spoke with potential voters.
The voters discussed feeling discouraged.
The report focuses on the upcoming midterm elections.
The video runs 3 minutes and 43 seconds.
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Nearly two dozen African leaders attended a summit in Moscow. The Kremlin described African countries as natural allies in opposition to the West. The program also reported on deaths among detained miners in Nigeria and Kenyan support for women athletes ahead of the Youth Olympics in Senegal.
Key Facts
The Moscow summit opened with nearly two dozen African leaders attending.
The Kremlin called African countries natural allies against the West.
Nigerian investigators said dozens of detained miners died in a crowded jail cell.
Investigators said the miners screamed for help while jailors ignored them.
Kenya is increasing support for women athletes ahead of the Youth Olympics in Senegal.
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Hamlet is a technology company that uses artificial intelligence to summarize public information about local government. Founder Sunil Rajaraman discussed the company’s aim of making government decisions easier for people to understand.
Key Facts
About $2 trillion in economic activity flows through local government each year, according to the article.
Many local government decisions are made in public meetings.
Few people attend those public meetings.
Hamlet uses AI to summarize public information.
Founder Sunil Rajaraman discussed Hamlet on CBS News.
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Family caregivers spend an average of more than $11,500 a year on care, about 60% more than in 2021, according to an AARP study. The costs and time demands can reduce savings, earnings, and work hours, and may lead some caregivers to leave their jobs.
Key Facts
AARP based its findings on a survey of more than 2,500 people who cared for an adult relative or friend in June and July.
Caregiving costs average more than $11,500 a year, up roughly 60% from 2021.
For households earning less than $40,000 annually, caregiving costs average more than three-quarters of household income.
Housing and household expenses are caregivers’ largest costs, averaging nearly $4,800 per year.
Healthcare costs are the second-largest financial burden, including insurance premiums, copayments, and hospital bills.
Nearly two-thirds of working caregivers surveyed said caregiving responsibilities affected their work lives.
Some caregivers work extra hours to cover costs, while others reduce their schedules or leave their jobs.
Connecticut resident Wendy Mayo estimates she spends $15,000 a year helping care for her mother, who has Alzheimer’s disease.
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Defense lawyers challenged the evidence and investigative methods in the case accusing former FBI officials Nikki Floris and Bradley Benavides of lying to Congress about their roles in Hunter Biden investigations. A magistrate judge struck a later complaint that added obstruction charges and said he would review the original allegations statement by statement for probable cause.
Key Facts
The case alleges that Floris and Benavides made false statements to the House Judiciary Committee about their involvement in FBI investigations related to Hunter Biden.
FBI agent Bryan Witt testified that investigators did not interview Floris or congressional staff members with direct knowledge of the officials’ testimony.
Witt acknowledged that Steve Castor, a key House Judiciary Committee staffer, was not present for the testimony and had not reviewed its transcript.
Defense lawyers argued that some committee questions did not specify which of several Hunter Biden investigations they referred to.
Prosecutors initially charged the pair through a criminal complaint rather than a grand jury indictment.
Prosecutors filed an unsigned, unsworn complaint seeking to add obstruction-of-Congress charges shortly before the hearing.
Judge Zia Faruqui struck the later complaint, saying it lacked proper judicial review, but allowed the hearing on the original complaint to continue.
Faruqui said he planned to examine each alleged false statement to determine whether probable cause exists.
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