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President Donald Trump’s budget chief on Thursday said that Federal Reserve Chairman Jerome Powell “has grossly mismanaged the Fed” and suggested he had misled Congress about a pricey and “ostentatious” renovation of the central bank’s headquarters.

The broadside by Office of Management and Budget Director Russell Vought opened up a new front in Trump’s war of words against Powell.

Trump has repeatedly called on the Fed chairman to cut interest rates, without success. He reportedly has considered firing Powell and, more recently, publicly naming the chairman’s replacement months earlier than the end of Powell’s term next spring.

Vought’s letter raises the question of whether Trump will seek to remove Powell for cause, at least ostensibly.

But the Supreme Court in a recent decision strongly suggested that Federal Reserve board members have special protection from being fired by a president.

“While continuing to run a deficit since FY23 (the first time in the Fed’s history), the Fed is way over budget on the renovation of its headquarters,” Vought wrote in a post on the social media site X.

“Now up to $2.5 billion, roughly $700 million over its initial cost,” Vought wrote. “The cost per square foot is $1,923–double the cost for renovating an ordinary historic federal building. The Palace of Versailles would have cost $3 billion in today’s dollars!”

Vought’s tweet linked to a letter he sent Powell that referenced the Fed boss’s June 25 testimony before the Senate Banking Committee.

“Your testimony raises serious questions about the project’s compliance with the National Capital Planning Act, which requires that projects like the Fed headquarters renovation be approved by the National Capital Planning Commission,” Vought wrote.

“The plans for this project called for rooftop terrace gardens, VIP private dining rooms and elevators, water features, premium marble, and much more,” he wrote.

But Powell, in his testimony, said, “There’s no VIP dining room. There’s no new marble. There are no special elevators. There are no new water features. There’s no beehives and there’s no roof terrace gardens,” Vought wrote.

“Although minor deviations from approved plans may be inevitable, your testimony appears to reveal that the project is out of compliance with the approved plan with regard to major design elements,” Vought wrote.

This post appeared first on NBC NEWS

A good trade starts with a well-timed entry and a confident exit. But that’s easier said than done. 

In this video, Joe Rabil of Rabil Stock Research reveals his go-to two-timeframe setup he uses to gain an edge in his entry and exit timings and reduce his investment risks. 

Joe shows you how he spots the big trends on a higher timeframe chart and then drops to a shorter timeframe chart to pinpoint his entries and exits. Watch him dissect the S&P sectors, overall market, and specific symbols using the multiple timeframe approach. Follow along and come up with a systematic method that can help you gain more confidence in your investment decisions.  

The video premiered on July 2, 2025. Click this link to watch on Joe’s dedicated page. 

Archived videos from Joe are available at this link. Send symbol requests to stocktalk@stockcharts.com; you can also submit a request in the comments section below the video on YouTube. Symbol Requests can be sent in throughout the week prior to the next show.

After months of whiplash sector swings, the market may finally be showing signs of settling down. 

In this video, Julius de Kempenaer uses Relative Rotation Graphs (RRG) to analyze asset class rotation at a high level and then dives into sectors and factors. Julius highlights the rotation into cryptocurrencies and the S&P 500, followed by an analysis of the S&P sectors that are driving the market’s move higher. He then analyzes factors — growth, value, and size. 

Discover where capital is shifting now, which sectors are powering the broad index advance, and which factors are displaying or hinting at fresh leadership. You might find a few surprises.

If you’re hunting for the next move or want a clear road map of the stock market’s rotation story, this video is your cheat sheet. 

The video was originally published on July 9, 2025. Watch it on our dedicated page for Julius.

Past videos from Julius can be found here.

#StayAlert, -Julius

When sector performance shifts gears from one day to the next, it’s best to be prepared with a handful of stocks from the each of the sectors. 

In this hands-on video, David Keller, CMT, highlights his criteria for picking the top stocks in 10 of the 11 S&P sectors

Discover the importance of trends, moving averages in the right order, breakouts above resistance levels, relative strength, and many other conditions that make a stock a powerful candidate in each sector. You’ll also learn how to add annotations to your charts, set alerts, and identify potential breakout points. 

Whether you’re looking to diversify or line up your next investment, this video gives you a sector-by-sector playbook that you can put to work today. So, jump in now and get ahead of the next sector rotation. 

The video premiered on July 9, 2025. Watch on StockCharts’ dedicated David Keller page!

Previously recorded videos from Dave are available at this link.

For those who focus on sector rotation, whether to adjust portfolio weightings or invest directly in sector indexes, you’re probably wondering: Amid the current “risk-on” sentiment, even with ongoing economic and geopolitical uncertainties, can seasonality help you better anticipate shifts in sector performance?

Current Sector Performance Relative to SPY

To find out, let’s first look at how sectors are performing relative to the SPDR S&P 500 ETF (SPY), our S&P 500 proxy. The StockCharts Market Summary Mini Charts tab in the US Sectors panel shows you sector ETF performance and its relative performance against SPY.

FIGURE 1. MARKET SUMMARY US SECTORS PANEL. The new micro charts feature provides a chart of each sector’s ETF plus its relative performance against SPY, allowing you to gauge a sector’s strength against the broader market.

Looking at each sector chart over a three-month time frame, only two sectors are outperforming relative to SPY:

  1. Technology Select Sector SPDR Fund (XLK): Currently outperforming SPY by 13.85%.
  2. Industrial Select Sector SPDR Fund (XLI): Outpacing SPY by a modest 2.53%.

Spotlight on Technology and Industrials: Leading Sectors in a Risk-On Market

As a side note, Technology and Industrials are two sectors that align with the risk-on narrative. This suggests that the market is currently favoring higher-beta stocks (as XLK’s performance reflects) over safer sectors and that demand for industrial goods is generally rising, a sign investors expect the economy to strengthen.

Understanding Sector Seasonality: What History Tells Us

Now, let’s turn to seasonality. In this context, seasonality refers to the tendency for certain sectors to perform better during specific periods and worse during others. While past performance never guarantees future results, it can help you anticipate how a sector might behave based on historical tendencies, not certainties. 

So, what might the seasonality charts suggest about XLK and XLI in the coming months?.

XLK Seasonality Trends: Tech Sector’s Strongest Months

Take a look at XLK’s 10-year seasonality chart.

FIGURE 2. 10-YEAR SEASONALITY CHART OF XLK. While September appears to be tech’s only bearish month from a seasonality perspective, its strongest months are November and July. 

Over 10 years, July has been XLK’s second strongest month, with positive closes 90% of the time and an average monthly return of 4%. The most profitable month is November, with an 89% positive close rate and a 5% average monthly return. August isn’t bad, but July is exceptionally strong and reflects its current overall performance.

XLI Seasonality Patterns: When Industrials Tend to Outperform

Switching over to a seasonality chart of XLI, we get a similar picture.

FIGURE 3. 10-YEAR SEASONALITY CHART OF XLI. July is XLI’s strongest month for positive closes, and November is its strongest month for average seasonal returns.

This pattern is pretty exceptional: over the last 10 years, XLI has posted a historical 100% positive close rate in July, with an average return of 3.5%. The strongest returns, however, tend to occur in November, which shows an 89% positive close rate and an average return of 6.5%. The months in between are relatively unremarkable, making July and November stand out significantly. 

Technical Analysis of XLK and XLI

Will July be another up-month for XLK and XLI? Starting with XLK, let’s switch over to a six-month daily chart.

FIGURE 4. DAILY CHART OF XLK. Tech’s upward trajectory is now in overbought territory, yet there’s little sign of slowing.

XLK is at an all-time high, and there’s no clear indication that it’s pulling back just yet. 

Meanwhile, the Relative Strength Index (RSI) is suggesting that XLK has been occupying overbought territory since late June. However, bear in mind that an RSI reading at this level can sustain itself for an extended period. And if you look at the On Balance Volume (OBV) indicator, it suggests that the buying pressure trend is still rising with no signs of slowing down.

Actionable Tip: Remember, July is one of XLK’s historically strong seasonal months. 

  • But if it does pull back soon, you might expect a bounce near $242.50, which is an area marked by a series of historical swing highs. 
  • Notice how the ZigZag line highlights these key swing points. 
  • Other areas of support sit around $235, its most recent swing low, and $225, the level of its most recent swing low.

Now let’s turn to the daily chart of XLI.

FIGURE 5. DAILY CHART OF XLI. Industrials are also surging, although buying pressure may be starting to decline.

Similar to the previous chart, XLI shows a move higher that places it well into all-time high territory. July is also an exceptionally strong month for XLI, but does it have enough fuel to return the seasonal 3.5% that it typically averages this month?

The RSI signals that XLI may be overbought, which, again, can remain there for some time, while the OBV suggests that buying pressure may be easing into a pullback. However, price continues its upward trajectory.

Actionable Tip: If XLI dips, the pullback may be shallow, potentially bouncing near $145, its most recent swing high. A more substantial support level lies around $141, where multiple swing lows have formed. If XLI drops below $141, you can expect further downside movement.

At the Close

While no strategy can guarantee success, combining seasonality insights with price action can help improve your market timing. Keep an eye on support levels as well as momentum and volume. Remember that the strongest months for XLK and XLI tend to be July (the current month) and November. You can add XLK and XLI to your ChartLists and keep an eye on them, especially in the months ahead. 

However, the big takeaway here is to consider using seasonality charts alongside the various tools in the Market Summary, whether you’re considering an individual stock, index (sector or industry), or other asset classes, like commodities and monetary metals. While price action can help you nail down specific market opportunities, seasonality charts can help contextualize current price action and anticipate potential future market scenarios.


Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

President Donald Trump on Wednesday announced he is tapping Transportation Secretary Sean Duffy to serve as interim administrator of NASA, a move the president said reflects the growing importance of space in national priorities.

‘I am pleased to announce that I am directing our GREAT Secretary of Transportation, Sean Duffy, to be Interim Administrator of NASA,’ Trump posted to Truth Social. 

‘He will be a fantastic leader of the ever more important Space Agency, even if only for a short period of time.’

The president praised Duffy’s performance at the Department of Transportation, calling his tenure ‘TREMENDOUS,’ and sharing his work on air traffic control modernization and infrastructure revival. ‘Rebuilding our roads and bridges, making them efficient, and beautiful, again,’ Trump wrote.

Duffy, a former congressman from Wisconsin and longtime Trump ally, accepted the role enthusiastically. ‘ Honored to accept this mission. Time to take over space. Let’s launch.’ he wrote on X.

Duffy replaces Janet Petro, who has served as acting NASA administrator since January. Trump withdrew Jared Isaacman’s nomination for the role in May.

Isaacman, a billionaire private astronaut and longtime associate of Elon Musk, was nominated by Trump in December 2024 but faced mounting scrutiny over ties to Musk and SpaceX, which some officials viewed as a conflict of interest.

According to The Associated Press, Trump said the decision to pull Isaacman’s name came after a ‘thorough review of prior associations’ and growing concern over ‘corporate entanglements.’

NASA has increasingly factored into the Trump administration’s national defense, innovation, and economic agenda. Trump has long emphasized the strategic importance of space, launching the Space Force during his first term.

This post appeared first on FOX NEWS

The Biden-era kid gloves are off.

On Wednesday, Secretary of State Marco Rubio announced the United States is imposing sanctions on Francesca Albanese, the controversial United Nations (UN) Special Rapporteur on Palestinian rights.

‘Albanese’s campaign of political and economic warfare against the United States and Israel will no longer be tolerated,’ Rubio posted on X. ‘We will always stand by our partners in their right to self-defense.’

Albanese has pushed to haul U.S. and Israeli officials before the International Criminal Court (ICC), drawing outrage from lawmakers, diplomats, and human rights advocates alike.

In multiple reports and public comments since her 2022 appointment, Albanese has accused Israel of apartheid and dismissed Hamas violence as ‘not surprising.’ According to her July 2025 report to the UN Human Rights Council, Albanese claimed the U.S. may be ‘liable for the international crime of aggression’ for President Trump’s strikes on three Iranian nuclear sites.

Albanese has also taken aim at American-based companies supplying defense technologies to Israel, suggesting they should face legal consequences for ‘aiding and abetting’ alleged crimes. In a now‑deleted 2022 post, she questioned whether ‘the Jewish lobby’ controlled U.S. foreign policy, a comment she later retracted amid criticisms that it espoused antisemitism.

‘The State Department is to be congratulated for finally taking action against Albanese, her virulent and violent antisemitism and her constant attacks on the United States, American businesses and the very existence of the State of Israel,’ said Anne Bayefsky, President of Human Rights Voices, in an exclusive statement to Fox News Digital. 

‘Albanese poses a direct threat to the well-being and security of U.S. citizens – not to mention her utter disregard for the theoretical purposes and principles of the United Nations – and as such, the United States is not obligated to admit her. President Trump’s Executive Order requiring action on international actors bent on throwing American and Israeli soldiers into International Criminal Court dungeons in the Hague needs even more enforcement,’ Bayefsky added.

 

‘Add Navi Pillay and her diabolical UN Commission of Inquiry. There is an answer for those who would incorrectly argue that the U.S. is impotent in the face of the U.S-UN host agreement: kick the UN out of the U.S. along with Albanese and her UN partners in crime,’ the statement concluded.

Israeli leaders quickly backed Rubio’s move. ‘A clear message. Time for the UN to pay attention!’ Foreign Minister Gideon Sa’ar posted in response.

Israel’s UN Ambassador Danny Danon also weighed in to the Jerusalem Post: ‘Albanese consistently undermines the credibility of the UN by promoting false and dangerous narratives… We will not remain silent.’

Hillel Neuer, Executive Director of UN Watch, weighed in with a statement to Fox News Digital, writing: ‘This is a bold and courageous move by Secretary Rubio. No UN official — in this case, a purported official, as her reappointment was illegal — has ever been sanctioned before in history. Then again, no UN official has ever been condemned for Holocaust distortion and antisemitism by France, Germany, Canada, and both Democratic and Republican US administrations.’

‘She will never again spread her poison on American campuses or enter the country. Justice is served. Good triumphs over evil.’

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Former White House physician Kevin O’Connor’s closed-door interview with the House Oversight Committee ended after less than an hour on Wednesday morning, with the doctor giving investigators virtually no new insights.

O’Connor pleaded the Fifth Amendment to multiple questions about his time with former President Joe Biden during his sit-down. It resulted in a hasty end to what could have been an hours-long deposition.

‘I’m going to read the first two questions that were asked. ‘Were you ever told to lie about the president’s health?’ He pleaded the Fifth Amendment. He would not answer that question. The second question, ‘Did you ever believe President Biden was unfit to execute his duty?” House Oversight Committee Chairman James Comer, R-Ky., told reporters after the meeting.

‘Again, President Biden’s White House physician pled the fifth. This is unprecedented, and I think that this adds more fuel to the fire that there was a cover-up.’

The doctor’s lawyers said O’Connor’s refusal to answer questions on Fifth Amendment grounds was not an admission of guilt, but rather a response to what they saw as an unprecedented investigatory scope that could have violated the bounds of patient-physician privilege.

‘This Committee has indicated to Dr. O’Connor and his attorneys that it does not intend to honor one of the most well-known privileges in our law – the physician patient privilege. Instead, the Committee has indicated that it will demand that Dr. O’Connor reveal, without any limitations, confidential information regarding his medical examinations, treatment, and care of President Biden,’ the attorney statement said.

‘Revealing confidential patient information would violate the most fundamental ethical duty of a physician, could result in revocation of Dr. O’Connor’s medical license, and would subject Dr. O’Connor to potential civil liability. Dr. O’Connor will not violate his oath of confidentiality to any of his patients, including President Biden.’

The House Oversight Committee has been investigating whether Biden’s former top aides covered up evidence of his mental and physical decline while in office. Biden’s allies have denied such allegations.

But Comer suggested to reporters that O’Connor’s invocation of the Fifth Amendment could have been evidence to the contrary.

‘Most people invoke the fifth when they have criminal liability. And so that’s what would appear on the surface here,’ he said. ‘We’re going to continue to move forward. Obviously, I think his actions today speak loud and clear.’

But O’Connor’s lawyers wrote in their statement, ‘We want to emphasize that asserting the Fifth Amendment privilege does not imply that Dr. O’Connor has committed any crime. In fact, to the contrary, as our Supreme Court has emphasized: ‘One of the Fifth Amendment’s basic functions is to protect
innocent men who otherwise might be ensnared by ambiguous circumstances.”

Meanwhile, Rep. Jasmine Crockett, D-Texas, who made a surprise appearance at the interview and was the only lawmaker there, save for Comer, defended O’Connor’s use of the Fifth Amendment.

‘As someone who has served as a criminal defense attorney and actually been in courtrooms, it’s kind of astounding to hear someone say, if you invoke the Fifth Amendment, that is only because you are guilty,’ Crockett said. 

She pointed out that the Trump administration had launched a contemporaneous criminal probe.

‘We have a constitutional right that anyone who may be under fire can invoke. And unfortunately, with this rogue DOJ, it has decided that it wants to run a contemporaneous investigation, criminal investigation, involving the doctor – I think he did what any good lawyer would advise him to do,’ Crockett said.

O’Connor’s lawyers have asked the committee to pause its investigation while the Department of Justice (DOJ) probe is underway.

He and his legal team appeared to catch reporters by surprise with their hasty exit on Wednesday morning, roughly thirty minutes after entering.

One of O’Connor’s lawyers said they would be making ‘no comments to press’ in response to a shouted question by Fox News Digital.

Comer, for his part, insisted the investigation would go on.

‘This is something I think every American is concerned about. I think that the American people want to know the truth. We’re going to continue this investigation. We’ll move forward,’ Comer said. ‘We have several other witnesses that are going to come in for depositions and transcribed interviews. We will do everything in our ability to be transparent with the media and be transparent with the American people.’

The committee previously interviewed former Biden staff secretary Neera Tanden. Comer has summoned several other ex-White House aides to appear.

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EXCLUSIVE – Amid charges that its distribution model forces civilians to travel long distances and pass through military zones, the U.S.-backed Gaza Humanitarian Foundation (GHF) announced a new initiative on Wednesday to add another layer of security to deliver food aid directly to Gazans in need, without diversion or interference from Hamas. 

The new system enables community leaders to contact GHF or one of its non-governmental organization (NGO) partners to coordinate local distribution. A GHF team will vet the leader, determine their needs, and set up the initial distribution of food aid. Boxes will be collected by locals at a predetermined location, and GHF will verify that boxes are distributed to aid recipients listed by the community leader.

GHF interim Executive Director John Acree told Fox News Digital, ‘We simply can’t keep doing things how they’ve always been done. Big challenges need new thinking, and I commend our team for continuing to think outside the box as we address pressing humanitarian needs on the ground.’ 

Using this method, GHF partnered with Gazan NGO Al-Amal to successfully deliver some 2,000 boxes of food aid to residents of central Gaza.

Though GHF has delivered 67 million meals since beginning operations in May, it has faced criticism over its distribution model, which required Gazans to reach one of four distribution points to receive aid. 

Critics, including the U.N., UNRWA and other aid groups, have seized on reports that aid recipients have been shot at and even killed by the Israel Defense Forces while seeking GHF aid. The IDF said those reports ‘are false.’

Testimonies from Gaza residents, released by Israel’s Coordinator for Government Activities in the Territories (COGAT), show that ‘Hamas fires at Gaza residents near the aid distribution sites, spreads false claims about IDF fire, publishes fabricated data about large numbers of casualties, and circulates fake footage,’ COGAT said.

GHF leaders have also charged Hamas with hoarding humanitarian aid, and selling or using the aid ‘for coercive purposes.’

Acree acknowledged that ‘The Gaza Strip is a dynamic, dangerous environment that requires innovative solutions to get food to those who need it most. This is the latest example of GHF doing exactly that. I am encouraged by the results of this program and proud to work alongside our local NGO partner as we continue to feed the people of Gaza.’

GHF hopes to partner with additional NGOs to expand its delivery service. Its ultimate goal is to distribute over 20,000 boxes of aid – 1.2 million meals – each day throughout Gaza.

Despite negative feedback about the GHF model from the UNRWA and NGOs, Israeli Prime Minister Benjamin Netanyahu spoke of the important role the new aid system plays in getting Gazans fed.

In an exclusive interview with FOX Business’ Maria Bartiromo on ‘Mornings with Maria,’ on Wednesday, Netanyahu was asked whether he would agree to demands that the U.N. be placed back in charge of humanitarian aid distributions in Gaza. 

‘We have our own distribution system that has been established to prevent Hamas from stealing the food that is supposed to go to the population,’ Netanyahu replied. ‘They steal it, they take it for themselves and the remainder, they hike the prices and basically, extort the Palestinian population in order to use it to continue recruiting people to their war machine.

‘Obviously, we don’t want to give up the thing that we began with, which is distribution that goes directly to the people.’

The U.S. State Department has already approved funding of $30 million for GHF.

This post appeared first on FOX NEWS

Let’s talk about language. Because in politics, language isn’t just what you say — it’s what people hear. And if there’s one thing I’ve learned from decades of helping brands and campaigns get their words right, it’s this: the wrong message can kill even the best idea. Tesla CEO Elon Musk’s America Party is a case study in how not to build trust through language.  

I’ve seen this movie before. I started my career on Ross Perot’s campaign, where we learned firsthand how the right words can electrify a movement — and how quickly the wrong ones can turn hope into skepticism. Perot’s success was based on his ability to connect with voters using language that was clear, relatable and believable. He spent a lot of time talking about a broken system, but he did so in a way that made people believe change was possible.  

Musk, on the other hand, is using the language of disruption without understanding the language of trust. And that’s why his America Party is likely to be just another blip in the long history of failed third-party efforts.  

The language of disruption vs. the language of trust  

Let’s break down Musk’s messaging. He says it’s ‘time for a new political party that actually cares about the people.’ He talks about ‘reducing government spending,’ dismantling regulatory bloat, and embracing AI-driven modernization. These are buzzwords, not beliefs. They’re designed to provoke, not persuade.  

Here’s the problem: Americans are already drowning in distrust. They don’t believe politicians. They don’t believe in institutions. And they certainly don’t believe that this billionaire with a Twitter habit is suddenly going to care about the people. Musk’s words are meant to sound populist, but they just sound AI-generated.  

Slogans can help build trust but trust cannot be built on slogans alone. It’s built on language that resonates, connects to people’s real concerns and is grounded in actions that create credibility. Perot was also a billionaire, but he understood how to speak the language of the average person and make it feel real.    

Musk, by contrast, is speaking at people, not to them.  

The pitfalls of start-up populism  

Musk’s messaging is heavy on tech jargon and light on empathy. AI-driven modernization might excite Silicon Valley, but it’s a scary prospect for many voters increasingly worried about their job, their healthcare or their kids’ future.    

Start-up language is sexy … if you’re a venture capitalist. But Musk doesn’t understand that most Americans don’t speak the language of technology.    

Perot was also a tech entrepreneur, but he left talk of mainframes out of his campaign. His version of reducing regulatory bloat was much simpler: ‘if you see a snake, just kill it — don’t appoint a committee on snakes.’  

I care for you. You’re fired  

We once had a client who wanted to test a campaign designed to show how much they cared about their customers. The slogan: ‘We care.’ As we expected, it bombed in testing. The company’s actions did not support the message. The same is true for Musk.  Musk says he wants a party that ‘actually cares about the people.’ But the language he uses doesn’t show care — it shows calculation. It’s the language of someone who wants to be seen as a disruptor, not someone who wants to build trust.  

Words like ‘disruption,’ ‘modernization,’ and ‘efficiency’ are the language of business (and often of layoffs), not the language of belonging. They don’t answer the fundamental question every voter is asking: ‘Do you understand me? Do you care about what I care about?’ If you can’t answer that in your messaging, you’ve already lost.  

The bottom line: Words matter more than ever  

It’s unclear if Musk is really serious about building something new or just tearing down something Trump. But if he wants to build a movement, he needs to do more than talk about what’s wrong.  That’s the easy part.   

Perot also said the system was broken. But he made the problem understandable and he made a solution seem achievable. He made the deficit real. He made government waste personal. He made it feel like we could all roll up our sleeves and fix it. Ultimately, he had his own issues, but at the peak of his campaign, 39% of the population said they planned to vote for him.

So much has changed since 1992, but building a third party in America remains one of the hardest jobs in politics. The only way to even start to make it work is to find language that creates hope, engenders optimism and illuminates a path to overcoming challenges that a significant plurality of Americans care about.    

Ironically, in the same poll that showed Perot leading the race, 65% of the public said they would be less likely to vote for a candidate who ‘made a fortune doing business with the federal government.’ So maybe less has changed than we think.   

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