Lindsey Graham Remembered as ‘American Original’

Summary of Lindsey Graham Remembered as ‘American Original’

by The Wall Street Journal

12m•July 28, 2026
Listen to Episode

Overview of What's News (The Wall Street Journal)

This episode covers a Washington memorial for Sen. Lindsey Graham, a major policy shift affecting Medicare drug coverage, a highly uncertain Federal Reserve meeting, a batch of mixed corporate earnings, and a lighter story on Gen Z and millennial daters using spreadsheets to evaluate partners.

Lindsey Graham Remembered in Washington

  • Leaders from across the U.S. political spectrum gathered to honor the late Sen. Lindsey Graham.
  • The service emphasized his long influence in the Senate, his military service, and his role in shaping foreign policy.
  • Speakers described Graham as:
    • a fierce but persuasive debater,
    • someone who could disagree without being disagreeable,
    • and a rare political figure who maintained relationships across party lines.
  • Vice President J.D. Vance and former President Trump both offered personal reflections.
  • Trump focused on Graham’s evolution from political rival to close ally and called him a “true American original.”
  • Foreign leaders including Israeli Prime Minister Benjamin Netanyahu and Ukrainian President Volodymyr Zelensky attended the funeral.
  • Graham’s body was to be buried in South Carolina the following day.

Medicare Drug Subsidy Set to End

  • The Trump administration plans to end a Medicare Part D subsidy program after this year.
  • Officials argued the subsidy encouraged insurers to raise premiums because the government covered extra costs.
  • The change could raise out-of-pocket costs for many seniors:
    • average Part D premium: about $36/month
    • nearly half of affected enrollees could pay $11–$20 more per month
  • Roughly 25 million people have plans that rely on the subsidy.
  • Consumer advocates warn the move could make prescription coverage more expensive for seniors.

Markets and the Fed: A Very Uncertain July Meeting

  • U.S. stocks ended mixed:
    • Dow +1%
    • S&P 500 +0.2%
    • Nasdaq -0.2%
  • Chip stocks continued to sell off.
  • Oil prices fell sharply:
    • Brent crude finished down 4.8%, near $84/barrel
  • Iran and Oman are reportedly trying to use a pause in fighting to negotiate reopening the Strait of Hormuz.

Why the Fed Meeting Is Hard to Read

  • The Federal Reserve opened its July meeting, with a rate decision due the next day.
  • Markets saw about a 1-in-3 chance of a rate hike.
  • The key uncertainty is how Fed Chair Kevin Warsh will approach inflation and rate-setting.
  • Arguments for a hike:
    • renewed oil-shock concerns,
    • lingering inflation risk,
    • strong AI-driven demand supporting equities and spending.
  • Arguments for holding rates steady:
    • June inflation data was cooler than expected,
    • the case for tightening may not be strong enough yet.
  • Analysts said the real signal will be not just the decision, but how Warsh explains it and frames future policy.

Corporate Earnings Roundup

Boeing

  • Boeing stayed in the red for another quarter.
  • The company said modified 747-8 jets intended for future Air Force One use will cost an additional $280 million.
  • Commercial aircraft operations also posted a loss due to manufacturing spending and work to reduce its backlog.
  • CEO Kelly Ortberg said demand remains strong, citing a record backlog of more than 6,200 airplanes.
  • Shares rose 4.8% despite the earnings miss.

PayPal

  • PayPal raised its profitability outlook.
  • The update came after takeover interest from Stripe and Advent International.
  • Management said it remains focused on the turnaround plan but is “open and objective” about deal opportunities.
  • Shares rose 4%.

UPS

  • UPS said restructuring efforts are helping and lifted its full-year outlook.
  • Profit fell, however, because of higher fuel costs and charges tied to job cuts.
  • Shares dropped about 6.5%.

Coca-Cola

  • Coca-Cola boosted its outlook after reporting a 5% increase in case volume.
  • The company credited marketing efforts, including its World Cup campaign.
  • Shares rose 5%.

Visa

  • Visa said it will cut 2,600 jobs, or about 7% of its workforce, ahead of its quarterly earnings report.
  • Shares rose just over 1%.

The Rise of Dating Spreadsheets

  • The episode ends with a look at how some Gen Z and millennial singles are using spreadsheets to track dates.
  • People are using them to evaluate:
    • values and long-term goals,
    • hobbies and lifestyle fit,
    • fitness habits,
    • compatibility beyond dating-app surface details.
  • The trend reflects frustration with online dating overload and the desire to impose more structure on too many options.
  • Supporters see spreadsheets as a way to stay disciplined and avoid wasting time on incompatible matches.
  • Critics—especially older readers—tend to see the practice as overly clinical or unromantic.
  • The broader takeaway: modern dating has become so choice-heavy that some singles are turning to data to make emotional decisions feel more manageable.