FEDERAL RAG
U.S. POLITICAL AND BUSINESS NEWS — SATURDAY, NOVEMBER 14, 2026 · CLOSING EDITION

MARKETS — LAST CLOSE FRIDAY, NOV 13: SPY 754.37 ▼ 0.36% · DOWN DAY  |  QQQ 679.89 ▼ 1.20% · DOWN DAY
NATIONAL DEBT: $40,608,506,856,903  |  ▲ $24,376,776,630 SINCE TUESDAY, NOV 10  |  AS OF THURSDAY, NOV 12 — U.S. TREASURY
Hartsfield-Jackson Atlanta International Airport during the FAA ground stop

Hartsfield-Jackson Atlanta International Airport — the world’s busiest — as the FAA’s nationwide ground stop left planes parked at gates across the country Friday. (Photo: Harrison Keely, CC BY 4.0, via Wikimedia Commons)

Worst Is Behind Us: Full Flight Schedule Back by Sunday Night

The FAA says the worst is behind us — 4,400-plus flights were canceled Saturday and more than 13,000 departures scrubbed since Friday, but Administrator Bryan Bedford says airlines should have full schedule integrity by the close of business Sunday, two days after the longest nationwide ground stop in 25 years.

AP via WVLT: US air travel should recover by the end of Sunday  |  Fox Weather: Duffy blames copper-to-fiber swap that flooded the system

ELECTIONS & CONGRESS

PELTOLA DECLARES VICTORY IN ALASKA: ‘NO MATHEMATICAL PATH’ FOR SULLIVAN — The Democrat claimed victory Saturday after Friday’s count widened her lead to 10,412 votes — 138,240 (49.8%) to Sullivan’s 127,828 (46.1%) with 98% counted — and FairVote’s ranked-choice tally has her winning 51.5–48.5; the official tabulation is Nov. 18, and a win gives Democrats 56 Senate seats.

VAN HOLLEN TAKES ON SCHUMER FOR SENATE TOP JOB — The Maryland senator announced Thursday he’ll challenge Schumer for majority leader, saying voters want the Iran war ended now, not in January; Schumer says he has the votes, but Sanders, Slotkin and four incoming senators say they won’t back him.

THE GERRYMANDER GAMBIT WAS A ‘COMPLETE BUST’ — Republicans redrew maps in eight states at Trump’s urging and won just one of five targeted Texas seats — while California’s retaliatory map flipped all five seats it targeted.

BUSINESS & YOUR MONEY

HOME SALES CRASH TO 16-YEAR LOW — Existing-home sales fell 5.5% in October to a 3.75 million pace, the weakest since August 2010, as the 30-year mortgage hit 7.40% — “a punch in the gut,” one economist said.

NVIDIA CLOSES BELOW $4 TRILLION — The chipmaker fell 2.01% Friday to $162.85, down 12.75% on the week — its sixth straight weekly decline — after HSBC cut it to hold with a $170 target; interim CEO Colette Kress reports earnings Tuesday.

QUICK HITS

VAN HOLLEN: ‘MORE THAN 10’ SENATORS IN HIS CORNER

SCHUMER: ‘I HAVE THE VOTES TO CONTINUE’

VAN HOLLEN WOULD USE DEC. 11 FUNDING FIGHT TO CUT OFF IRAN WAR MONEY

FAIRVOTE: PELTOLA WINS ALASKA 51.5–48.5 IN RANKED-CHOICE TALLY

MISSISSIPPI CERTIFIES DEC. 3; COLOM CALLED NOV. 11

HOUSE RETURNS TUESDAY; SENATE MONDAY

FEDERAL GOVERNMENT

DUFFY: $50 BILLION OR THE SYSTEM KEEPS BREAKING — The Transportation secretary says an L3Harris router, swapped during a copper-to-fiber change, flooded the air-traffic system with more than 1,000 connection attempts every few seconds — and he wants $50 billion in emergency funding, up from the $30 billion he sought a day earlier; Bedford says there is zero evidence of a cyberattack or anything AI-related.

BESSENT BLAMES LUTNICK ON LIVE TV FOR CHIP BLACKLIST DELAY — The Treasury secretary said four agencies favored blacklisting Nvidia customer Megaspeed for months, but “Commerce has the pen” — an unusually public rebuke as Lutnick faces scrutiny over his ties to ousted CEO Jensen Huang.

TRUMP, XI TO HOLD ONE-ON-ONE TALKS AND WORKING LUNCH THURSDAY — Before Putin joins them for the first three-way meeting, Xi will hold separate talks and a working lunch with Trump in Shenzhen; Beijing remains wary of a gathering it sees as unpredictable.

BUSINESS & YOUR MONEY

STOCKS BANK BEST WEEK SINCE AUGUST DESPITE NVIDIA — The S&P 500 rose 2.51% on the week to 7,561.67 and the Nasdaq 2.27%, even as Nvidia lost 12.75%; the 10-year yield ended at 5.15% and gold at $3,881.60.

APPLE HITS RECORD HIGH AS ANTHROPIC IPO LOOMS — Apple touched a record $360.80 intraday Friday; Anthropic set a $70–$78 IPO price range, with trading expected Nov. 19 — and bitcoin slid to about $68,000, its lowest since August.

QUICK HITS

MULLIN: NO EVIDENCE OF A CYBER ATTACK

AMTRAK SAW HIGHER-THAN-NORMAL CALL VOLUMES FRIDAY

SUPREME COURT’S ORDER LIST DUE MONDAY AT 9:30 A.M.

LUTNICK AGREES TO TESTIFY BEFORE SENATE BANKING COMMITTEE

FED CHAIR WARSH SPEAKS MONDAY AT NOON IN SAN FRANCISCO

RETAIL SALES TUESDAY; NVIDIA EARNINGS TUESDAY AFTER CLOSE

GEOPOLITICS

POPE IN THE ANDES: 20,000 IN A FIELD, ‘WELCOME HOME’ — Leo XIV flew by helicopter to Santa Cruz de Succhabamba, a town of under 6,000 he visited many times as Chiclayo’s bishop, and celebrated Mass for a Vatican-estimated 20,000 as a local band sang “Pope Leo, welcome home”; he returns to Chiclayo tonight, then Cusco and Pucallpa on Sunday, his penultimate day in Peru.

PARAGUAY: CARTES PULLED THE PLUG — The ex-president publicly demanded an investigation Wednesday and his faction backed Peña’s impeachment the next day; Peña and the ex-central bank chief sit in pretrial detention while about 1.2 million Ueno depositors have received advance payments.

FRANCE: FIFTH SATURDAY, TURNOUT FALLS, TEAR GAS ANYWAY — The interior ministry counted 106,000 protesters nationwide, 24,000 in Paris — the lowest turnout in weeks — while student unions put it at 200,000; police fired tear gas in Paris, Bordeaux and Nantes over a bill giving officers greater legal protection, and unions called strikes for Tuesday.

TRUMP, XI AND PUTIN TO MEET THURSDAY IN SHENZHEN — The White House confirmed the first three-way meeting of the leaders of the world’s three nuclear powers: nuclear arms and Iran on the agenda, Ukraine not expected, and no agreement anticipated — nine months after New START expired.

LEAKED RECORDS PUT RUSSIAN WAR DEAD NEAR 400,000 — Hacked records from Russia’s statistics agency, analyzed by Bloomberg, put war-linked deaths at 392,700 — Silent Crow puts it at 450,100 — with a third of deaths among men 18–49 in Buryatia, Tuva and Zabaykalsky Krai war-related, against a tenth in Moscow; Rosstat denies the leak, and the true toll is likely higher still.

BUSINESS & YOUR MONEY

OIL CLIMBS AS TRUMP SAYS NO IRAN DEAL NEEDED — WTI settled up 2.55% at $88.74 on Nov. 12; energy was the week’s best sector, up 5.42%, with refiners Marathon and Valero leading the gains.

QUICK HITS

ZELENSKYY WORRIED ABOUT DECISIONS ON UKRAINE WITHOUT KYIV

KREMLIN DISMISSES YALTA COMPARISONS

POPE POSED FOR A PHOTO WITH EACH OF 140 PRIESTS AT FRIDAY DINNER

MPR MUST ELECT A SUCCESSOR WITHIN 60 DAYS

CHINA’S ARSENAL ~620 WARHEADS VS 5,000+ EACH FOR U.S., RUSSIA

UENO HELD $355M OF PENSION FUND MONEY

SPORTS

NO. 3 ALABAMA GRINDS OUT 21-6 WIN AT VANDY DESPITE SLOW START — Keelon Russell started despite the ankle injury that had Austin Mack penciled in, threw three touchdown passes — two to Lotzeir Brooks — and the Tide defense held Vandy to two Brock Taylor field goals, from 52 and 57 yards.

NO. 5 MIAMI TOPS DUKE 36-25, ON CUSP OF ACC TITLE GAME — Darian Mensah threw for 382 yards against his old school, Javian Mallory scored three times, and Nate Sheppard still set Duke’s single-season rushing record in the loss.

IOWA STATE’S FLORA RUNS WILD IN 41-13 ROUT OF CINCINNATI — Aiden Flora broke a 77-yard touchdown run, threw a 37-yard pass to set up another score, and the Cyclones are one win from a bowl.

HILLSDALE SCORES MOST POINTS IN 56 YEARS, 65-9 — The Chargers’ 65 points are the most since a 67-0 win in 1970, capping an 8-3 finish — the program’s best since 2018 — behind a career day from senior Cole Canter.

TRAVEL

NEW ORLEANS LIGHTS UP THE NIGHT AS LUNA FÊTE RETURNS THIS WEEKEND — The free festival of light, art and technology runs Friday through Sunday, Nov. 13–15, 6–10 p.m. nightly from Gallier Hall to Piazza d’Italia, with projection mapping, illuminated puppets in the Puppetry Parade, and interactive installations.

NOVEMBER IN THE SOUTH: FOLK FESTIVALS, WINE AND LIGHTS — The 83rd National Folk Festival takes over downtown Jackson, Miss., this weekend with 300-plus performers, while Charleston’s Food & Wine Classic pours through Sunday and Louisville’s lights go underground — seven million of them — at the Mega Cavern.

BIG BEND AT ITS BEST: NOVEMBER IS THE MONTH FOR TEXAS’ DESERT, RIVER AND CANYONS — November highs in the 60s and 70s make it prime hiking weather at Big Bend, with 1,500-foot Santa Elena Canyon walls, Rio Grande floats, a riverside hot spring, and the Chisos Basin still open after a planned closure was canceled.

THREE MILLION LIGHTS: ST. AUGUSTINE’S NIGHTS OF LIGHTS RETURNS NOV. 21 — The 33rd annual display runs Nov. 21, 2026 through Jan. 18, 2027, draping the nation’s oldest city in more than three million white lights, kicking off with Light-Up! Night at 6:30 p.m. on Nov. 21, plus a Christmas parade Dec. 5 and a Regatta of Lights Dec. 12.

FOOD

CAST-IRON SOURDOUGH DRESSING WITH MUSHROOMS AND BROWNED BUTTER — Garden & Gun’s new cookbook excerpt turns dressing into a warm bread salad baked in a skillet — shiitake and cremini mushrooms, leeks and fennel, and a deep nutty browned butter poured over hand-torn sourdough.

TWO THANKSGIVING RECIPES: BUTTERNUT CAPONATA AND PA DUTCH POTATO STUFFING — A Sicilian-style caponata with butternut squash, craisins and Granny Smith apples that can be served cold — plus a Pennsylvania Dutch potato stuffing invented in the 1700s, once cooked inside a pig’s stomach.

MAWMAW’S SOUTHERN TURKEY & DRESSING — Influencer Maddie Rickman’s family recipe: homemade cornbread with bacon grease and buttermilk, eight cups of broth, and Mawmaw’s tip — always serve it with cranberry sauce.

OUR CORNBREAD AND SAUSAGE STUFFING — An Alabama cornbread tradition meets six sweet Italian sausages, sage and red pepper — a two-dish recipe that feeds 24 and bakes separately from the bird.

ISSUE ONE — THE RUNNING ANALYSIS

CAN THE AI BOOM PAY FOR ITSELF? THE ECONOMIST ASKS THE QUESTION — The Economist’s lead briefing this week asks whether the AI boom can make enough money to sustain itself — and the market’s answer on the biggest name keeps getting worse: Nvidia fell 2.01% Friday to $162.85, below $4 trillion in value for the first time since July, its sixth straight weekly decline and 12.75% on the week; HSBC cut it to hold with a $170 target, and AMD fell 8.75% too. Interim chief Colette Kress reports earnings Tuesday — the first test of whether the business is still growing into its valuation, or whether the boom’s economics are the problem the Economist is asking about.

THE GROUND STOP BECAME A $50 BILLION ASK IN A DAY — Duffy asked Congress Friday night for $50 billion in emergency air-traffic funding — $20 billion more than the $30.1 billion the White House put in writing the day before, on top of the $12.5 billion Congress approved in 2025. The ask lands on a national debt of $40,608,506,856,903, and the pattern in this thread is the same: the emergency is real, the price keeps rising, and nobody has said what doesn’t get funded instead.

SENATE’S FIRST AFFORDABILITY TEST COMES MONDAY — The Senate returns Monday to a 60-vote cloture test on the Capito substitute to the Bipartisan American Affordability and Jobs Act — the first floor vote on the affordability fight since the enhanced credits expired. The states have already moved: at least 11 are offering their own premium help for 2027, and the December 15 deadline for January 1 coverage is a month away. Monday’s vote shows whether Washington intends to rejoin the fight it left to the states.

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