In today’s newsletter: Trump heads into the State of the Union with voters distrustful on the economy. Zelenskyy’s frustration with the peace process reaches new levels as Ukraine’s war with Russia enters its fifth year. And how White House adviser Stephen Miller has expanded his remit.

Here’s what to know today.

Trump heads into the State of the Union facing diminished voter trust on the economy

As President Donald Trump prepares for his latest State of the Union address, he’s entering on unfamiliar political ground — extreme distrust amongst Americans on his handling of the economy.

Over the last year, Trump has seen his economic approval ratings sink. This is a marked contrast from his first term, where he largely broke even or enjoyed broad approval — a public perception that has been a vital political asset since his first run for office.

But since his return to the White House, voters have soured on Trump on the economy amid persisting dissatisfaction with high costs, surveys show, a turnaround that has empowered Democrats and raised alarm bells among Republicans ahead of the 2026 midterm elections.

Trump has dismissed polls that show him diminished on the economy as “fake” and touted the stock market to argue things are going well. A key question for his State of the Union address is whether he will use the moment to press on with his strategy or change course in his economic message.

At least half a dozen House Democrats have invited survivors of Jeffrey Epstein as guests to tonight’s SOTU.

More details on what to expect from SOTU here. And follow the latest on our liveblog.

More politics news:

• FedEx is suing the Trump administration for tariff refunds after the Supreme Court ruled the president had exceeded his authority in deploying sweeping taxes on almost all U.S. trading partners. Trump’s reworked global tariffs took effect today at a rate of 10%, even though he said over the weekend that they would start at 15%.

• The European Parliament halted a sweeping trade deal with the U.S., citing uncertainty following the court’s ruling.
• Jeanine Pirro’s office will shelve the case against six lawmakers who urged military members not to comply with unlawful orders.

• Texts show Texas Rep. Tony Gonzales sent sexually explicit messages to a staffer as part of an alleged affair.

Zelenskyy’s angry outbursts grow as war with Putin enters fifth year

The Ukraine-Russia conflict is entering its fifth year and Volodymyr Zelenskyy is growing frustrated. Russia may have been thwarted in its immediate bid to sweep aside the Ukrainian president and swallow its neighbor whole, but after months of U.S.-led negotiations, and as the conflict enters its fifth year, there has been little clear progress on key sticking points in peace talks. The Zelenskyy ’s growing public anger with the peace process is palpable, Kyiv-based political analyst Volodymyr Fesenko said.

“His temperament calls for faster solutions. That’s where impatience and irritation come from,” Fesenko said.

Russia controls 20% of Ukraine’s territory, continuing to chip away at its eastern frontiers, and the battlefield toll is approaching nearly half a million dead and 1.5 million wounded or missing on both sides. All the while, Kyiv is facing immense pressure from Trump to reach a deal and to hold another election.

Zelenskyy is faced with ultimatums from Moscow and Washington to give up Ukrainian land, Fesenko said — something the Ukrainian leader is unlikely accept in the face of domestic public opinion.

“He is ready for the war that will continue,” he added.

Read more on Zelenskyy’s outlook here.

Trump’s ‘hammer’: Stephen Miller’s power extends far beyond immigration

Most people know Stephen Miller as the steely face of Trump’s deportation push, but as one of the president’s longest-serving aides, he has lots of other jobs.

Miller’s role includes driving the president’s effort to force change on college campuses meant to uproot what Trump calls a “woke” influence. But on a given day, he might also be found pressing to fix the dry, malfunctioning fountains in Washington, D.C., or to replace broken security cameras on the city’s streets, a senior administration official said.

The sheer sweep of Miller’s portfolio may partly account for his staying power in Trump-world, even after the backlash to immigration enforcement in Minneapolis.

Miller is an original and one of the few left standing — “the hammer” tasked with propelling Trump’s promises to fruition, as the president’s former chief strategist Steve Bannon said in an interview.

Read more on Stephen Miller.

Read All About It

• Analysis: How a new U.S. attack on Iran could risk a large-scale retaliation aimed at causing American casualties or disrupting the oil industry.

• The U.S. women’s hockey team declined Trump’s invitation to the State of the Union.

• The son of director Rob Reiner, who is accused of killing his parents, pleaded not guilty to two murder counts at an arraignment yesterday.
• Robert Carradine, the actor known for appearing in the Disney series “Lizzie McGuire,” has died. He was 71.

Staff Pick: Grandson of Reese’s Peanut Butter Cups inventor is in pieces over missing milk chocolate

Brad Reese wears his loyalty to Reese’s Peanut Butter Cups literally on his sleeve, often venturing out in orange and brown jerseys — the signature colors of the iconic candy that his grandfather H.B. Reese invented nearly a century ago.

So when his criticism of Hershey for replacing actual milk chocolate with a chocolate-flavored coating in spinoff candies like the Valentine’s Day Reese’s Mini Hearts went viral, we asked him why he cared so much.

For the 70-year-old Floridian, Reese’s Peanut Butter Cups are more than just a candy — they’re his legacy.

— Corky Siemaszko, reporter

NBC Select: Online Shopping, Simplified

Is it worth the investment? That’s the question Select editors asked when they undertook a year-long test of the Oura Ring 4. And again when they tested out a device devised to make your phone less distracting—because we could all due with a little less time online.

Sign up to The Selection newsletter for hands-on product reviews, expert shopping tips and a look at the best deals and sales each week.

Thanks for reading the Morning Rundown. Today’s newsletter was curated for you by Marissa Martinez. If you’re a fan, please send a link to your family and friends. They can sign-up here.