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📅 Programming Note: The next Daily Read will arrive in your inbox on Monday, February 23 after the US observes Presidents Day on Monday, February 16.
Hope as ICE Retreats: Trump to End Minnesota Immigration Blitz After Deaths, Protests (Bloomberg)
President Trump agreed to end sweeping federal immigration operations in Minnesota, White House border czar Tom Homan said, a landmark retreat from a mission that spurred national outrage over the killings of two US citizens.
Homan signaled that enforcement actions would continue, saying that “a small footprint of personnel will remain for a period of time to close out, and transition full command and control back to the field office.”
The moves come as Trump’s approval rating on immigration, once a political asset, has cratered amid widespread criticism over the aggressive actions of federal agents in US cities.
Pushback on the Pentagon: Judge Temporarily Blocks Pete Hegseth from Punishing Mark Kelly for Video (New York Times)
A federal judge on Thursday temporarily blocked Defense Secretary Pete Hegseth from punishing Senator Mark Kelly, Democrat of Arizona, for participating in a video that warned active-duty service members not to follow illegal orders.
Judge
Richard J. Leon of the District Court for the District of Columbia wrote in a 29-page opinion that the Defense Department’s move to discipline Kelly, a retired Navy captain and former astronaut, ran roughshod over his freedom of speech.
Judge Leon barred Hegseth and the Pentagon from taking any steps to reduce the senator’s retirement rank and pay, or using the findings against Mr. Kelly in a criminal proceeding.
American Tariff Tab: US Businesses and Consumers Pay 90% of Tariff Costs, New York Fed Says (Financial Times)
US businesses and consumers paid nearly 90% of the cost of Donald Trump’s tariffs last year, according to new Federal Reserve research that undercuts the president’s claim that foreign companies would bear the burden.
The study by the New York Fed found that the majority of tariff costs were passed through to Americans in the first 11 months of 2025, although exporters shouldered an increasing amount as the year progressed.
Jitters in Munich:
Europe Fears a Future Exposed by Putin’s War (Bloomberg)
Worries over growing economic strains in Russia have replaced dreams of victory parades in Kyiv.
Yet it’s European leaders arriving at the Munich Security Conference today who are agonizing over the existential military and economic vulnerabilities exposed by Putin’s challenge to the post-Cold War order.
Ouster Fallout: Venezuelan Protests Revive as Repression Ebbs After Maduro Raid (Bloomberg)
Venezuela is experiencing a surge in protests as the socialist regime eases up on political repression following the capture of President Nicolás Maduro by US forces.
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Capitol Bets: Anthropic Pledges $20 Million to US Candidates Who Favor AI Safety (Bloomberg)
Anthropic is donating $20 million to a political advocacy group called Public First that’s backing congressional candidates who favor safety rules for artificial intelligence, bolstering the company’s fight for “responsible AI” as Silicon Valley money floods into congressional races across the US.
Anthropic has set itself apart from rivals, including OpenAI,
by pushing for stringent AI regulations. OpenAI and venture capital firm Andreessen Horowitz have lobbied aggressively against state AI safety rules across the country, arguing they could hamper innovation and imperil the US in its technology race against China.
Seven-Day Play: Bloomberg Expands Live Business, News Coverage to Weekends With New Three-Hour Show (Variety)
“Bloomberg This Weekend,” a three-hour broadcast that airs from 7 AM to 10 AM on Saturday and Sunday, will debut February 28. The show, hosted by David Gura,
Christina Ruffini, and Lisa Mateo, will simulcast worldwide across Bloomberg’s audio, video and digital platforms, and offer real-time reporting, as well as stories on politics, lifestyle and culture to its audience. Carolyn Cremen, a veteran of CBS News and CNN, will serve as executive producer.
NYC Theater Guide: 18 Off Broadway Shows (and Some Puppets) to Defrost Your February (New York Times)
From intimate solo thrillers to epic Shakespeare and sharp-edged political drama, The New York Times has curated a list of 18 productions that capture the breadth and vitality of New York theater right now.
Highlights include Sean Hayes commanding attention in The Unknown (which I saw and loved), a gripping new solo thriller by David Cale that finds the Tony winner channeling a blocked writer in psychological free fall, as well as the biting finance-world satire Chinese Republicans, where ambition and generational power plays collide.
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