INFLATION WARNING. MUST SEE INTERVIEW WITH FED PRESIDENT. WHO HAS THE CARDS TRUMP OR CHINA? NETFLIX SPYING ON YOU?

WEDNESDAY, MAY 13, 2026

WHOLESALE INFLATION JUMPS!

We got another troubling sign that inflation is going in the wrong direction. The Producer Price Index report was released by the US government this morning and it shows wholesale inflation jumped in the month of April. This is a large flashing warning sign. This video explains what you need to know.

Read the PPI report here.

WE HAVE A NEW FEDERAL RESERVE CHAIRMAN

The Senate officially confirmed Kevin Warsh to be the next Chairman of the Federal Reserve today. Warsh is facing an uphill battle because of the economic fallout of this war with Iran and increasing inflation. The question is, can Warsh uphold Fed independence or will he push Trump’s agenda?

See how your Senator voted on Warsh here.

MUST SEE! INTERVIEW WITH CHICAGO FED PRESIDENT

The US economy is facing an uphill battle right now with inflation going in the wrong direction, the Iran war driving up oil and gasoline prices and a lackluster job market. There’s a lot of uncertainty ahead but I spoke with the President of the Federal Reserve Bank of Chicago about what’s really happening with this economy, about whether or not we can trust the data coming out of the Trump administration and what we can all expect from the brand new Fed Chair Kevin Warsh. He says this economy is concerning and weighed in on whether the Federal Reserve can remain independent under President Trump’s hand-picked Chairman.

TRUMP IN CHINA

President Trump has now begun his meeting with Chinese President Xi Jinping. The two leaders have a whole host of critical issues that need to be sorted out. There has been a lot of talk today about “who has the cards” (as Trump likes say) in these negotiations. You can decide who has more leverage over the other but I will tell you which cards Trump and Xi have in their back pocket.

US Cards

• Tech: President Trump and the United States have leverage over China an Xi when it comes to technology. China has long been wanting specialized high tech chips. So far, for national security reasons, the United States has limited the number of those specialized chips that can be sold to China. We know Xi wants more. This leverage point is also likely why Trump brought Nvidia CEO Jensen Huang with him to China. In addition to Huang, US tech giants Elon Musk and Tim Cook are also there.

• Taiwan: For decades the United States has acknowledged a “One China” policy. That means the US acknowledges China’s position that Taiwan is part of China but has never officially recognized the Communist Party’s claim to the self-governing island. It’s nuanced, but because of this US position, the United States has been selling billions of dollars in advanced weapons to the democratic island. We know that Xi wants the United States to stop those weapons sales so that China can fulfill a long held goal of overtaking the island.

China’s Card:

• Iran: China is Iran’s largest oil customer. As I reported in last night’s FactsHQ email, China is a strategic political partner of Iran but has so far publicly stayed out of the war and the back and forth between the US and Iran. While Trump has publicly said “we don’t need help” from China with Iran, some in Congress are hoping that Trump can convince Xi to get involved and put pressure on Iran to make a deal to end this war. Regardless of what Trump says, we know he wants this war to be over and we know he wants Iran to not have a nuclear weapon. China’s influence may actually be the shortest path to getting those things. So that gives China a significant leverage point over the United States and Trump.

Both Hold Cards:

• Trade: President Trump said for years that China was “ripping off” the United States when it came to trade. As a result, Trump imposed massive tariffs on China last year. Trump said the goal was to lower the trade deficit between the US and China and make trade between the two super powers more fair. But China fought back. China limited rare earths sales to the United States and limited purchasing of soy beans from US farmers (which really hurt them).

It’s unclear what kind of deliverables we are actually going to see at the end of this trip. I will keep you posted.

It’s also worth noting that China rolled out the red carpet (literally) for President Trump’s arrival tonight. It was full military and civilian participation including tons of small Chinese children cheering and waving flags to welcome Trump. Watch the pomp and circumstance here.

Watch the arrival ceremony here.

Watch the beginning of the Trump/Xi meeting here.

HANTAVIRUS: CDC WON’T SAY HOW MANY BEING MONITORED

Doctors from the Centers for Disease Control briefed reporters about the status of the Hantavirus situation in the United States today. During that briefing they reiterated that the risk from the deadly virus to Americans remains “very low” and said they remain on top of it.

The doctors on the briefing also reiterated that they stand by the Trump administration’s response, despite criticism that the US government isn’t being aggressive enough. The CDC officials pointed to their work with state and local medical partners and their close coordination and pointed to their coordination with other countries with known infections.

As for how many people are being monitored for Hantavirus in the United States, the CDC refused to say. We know about the 18 passengers who were repatriated to the US on Monday after they were exposed to the virus but we also know there were other Americans on that ship who were also exposed and had already returned to their respective states and homes. When asked by reporters today about how many people the US government was monitoring for Hantavirus, the doctors refused to give a number citing medical privacy concerns.

WHITE HOUSE SAYS TRUMP WILL HAVE ANOTHER ANNUAL PHYSICAL

The White House announced that President Trump will have his annual physical and dental check at Walter Reed on May 26. This will be the fourth time Trump has had exams at Walter Reed since taking office in January of 2025.

Trump had his annual physical in April of 2025. After that medical exam, Trump’s White House physician Navy Capt. Sean Barbabella said the president was “fully fit” to serve as commander in chief and even added that Trump was 20 pounds lighter since a 2020 checkup that showed him bordering on obesity.

But then just a few months later Trump had another checkup which the White House said was because of “mild swelling” in his lower legs. Tests by the White House medical unit found that Trump had chronic venous insufficiency, a condition common in older adults that causes blood to pool in his veins.

In October of 2025 Trump underwent another medical exam that the White House called a “semiannual physical,” where Trump also got his yearly flu shot and a Covid19 booster vaccine. Trump later said that he underwent an MRI exam ‒ it was technically a CT exam ‒ during the checkup. Trump's doctor said the physical was "preventative" and the results were "perfectly normal."

On top of that, Trump has visited a local dentist near his Florida estate on two separate occasions (that we know about). One just happened a few weeks ago.

IS NETFLIX SPYING ON YOU?

The state of Texas believes the answer is yes. Texas Attorney General Ken Paxton (and challenger for Sen. John Cornyn’s Senate seat) filed a lawsuit against the streaming giant claiming that “Netflix is spying on Texans, including children, and collecting users’ data without their knowledge or consent.” Paxton claims Netflix records and monetizes billions of behavioral events of customers including tracking and logging users’ viewing habits, preferences, devices, household networks, application usage, and other sensitive behavioral data. “Every interaction on the platform became a data point revealing information about the user. This tracking applied to not only adults’ accounts, but also kids’ profiles” Paxton said. Paxton also claims Netflix designed its platform to be “addictive.”

Netflix responded by saying "Respectfully to the great state of Texas and Attorney General Paxton, this lawsuit lacks merit and is ​based on inaccurate and distorted information. Netflix takes our members’ privacy ​seriously and complies with privacy and data protection laws everywhere we operate."

Paxton is requesting a temporary restraining order to prevent Netflix from “collecting, sharing, selling, disclosing, using, or other disclosing of any data it collects about Texas consumers.” He’s also asking that Netflix “purge” all data collected of Texans and wants assurances that the company won’t employ user data for targeted advertising without first obtaining users’ “express, informed consent.” Paxton is seeking damages of $10,000 per violation.

Read more from the Texas AG here.

MURDOCH DOUBLE MURDER CONVICTION OVERTURNED

In a shocking twist, today the South Carolina supreme court overturned the murder convictions and life sentence of disgraced lawyer Alex Murdaugh. The high-profile trial of Murdaugh for murder of his wife and son gripped the nation in 2023 and has since become the subject of countless documentaries and even a made-for TV movie.

In their unanimous ruling today, the South Carolina Supreme Court said the County Clerk of the Court basically had tampered with the jury when she “egregiously attacked Murdaugh’s credibility” by suggesting to jurors his testimony could not be trusted. A few jurors said Becky Hill who was assigned to oversee the evidence and the jury during the trial, told them to watch Murdaugh’s body language when he testified in his own defense and to not be fooled, confused or thrown off by what he might say. Hill “placed her fingers on the scales of justice, thereby denying Murdaugh his right to a fair trial by an impartial jury,” the justices wrote.

While Murdaugh’s double murder conviction and two life sentences without parole have now been reversed, he will remain behind bars. That’s because Murdaugh separately pleaded guilty to stealing around $12 million from his clients and currently is serving a 40-year federal sentence at the same time as a 27-year state sentence for his financial crimes.

While Murdaugh’s legal team calls today’s state supreme court ruling a victory, it may be short lived. That’s because late tonight, state prosecutors say they plan to retry Murdaugh. That means we will all be in for another lengthy made-for-TV trial.

COSMETIC FOUNDER GIVES IT ALL UP TO BECOME A PRIEST

If you were the founder of a multi-billion dollar company would you give it all up, donate all your money and devote your life to God and the church? Well, that just happened. One of the co-founders of e.l.f. Cosmetics will be ordained on Saturday, May 23 by the Diocese of Fresno.

52-year-old Scott-Vincent Borba told ABC News in the Bay Area of California that after living in the life of luxury, running around with celebrities, he gave it all up, donated his fortune and now lives in a tiny room with nothing in it. He says he’s never been happier.

What a fascinating story.

NOTE: Unfortunately, I can not answer any questions about the news via email. If you are a subscriber of FactsHQ, you can submit your question through the Substack chat feature and I can do my best to respond that way.