1 00:00:02,040 --> 00:00:04,560 Speaker 1: And will not allow Ice to arrest criminal aliens in 2 00:00:04,600 --> 00:00:08,240 Speaker 1: New York City. Your message to communists or Han Mondani, well, 3 00:00:08,280 --> 00:00:10,879 Speaker 1: then we'll have to arrest him. Look, we don't need 4 00:00:10,920 --> 00:00:12,720 Speaker 1: a communist in this country. 5 00:00:12,320 --> 00:00:13,760 Speaker 2: But if we have one, I'm going to be watching 6 00:00:13,800 --> 00:00:16,520 Speaker 2: over them very carefully on behalf of the nation. You're 7 00:00:16,560 --> 00:00:20,480 Speaker 2: listening to the forty seven Morning Update with Ben ferguson. 8 00:00:20,000 --> 00:00:22,720 Speaker 1: Good Thursday morning. So nice to have you with us 9 00:00:22,720 --> 00:00:25,599 Speaker 1: on the forty seven Morning Update. And here are the 10 00:00:25,680 --> 00:00:28,320 Speaker 1: two big stories coming out of the White House that 11 00:00:28,400 --> 00:00:31,479 Speaker 1: you need to know about. First up, as you're listening 12 00:00:31,560 --> 00:00:34,479 Speaker 1: right now, it may have become a reality that the 13 00:00:34,520 --> 00:00:37,919 Speaker 1: White House has got the passage of Trump's Big Beautiful 14 00:00:37,960 --> 00:00:41,640 Speaker 1: Bill out of the House after getting a massive victory 15 00:00:41,720 --> 00:00:45,080 Speaker 1: in the Senate. As I'm recording this at basically one 16 00:00:45,120 --> 00:00:48,320 Speaker 1: am right now, Speaker of the House is saying we're 17 00:00:48,400 --> 00:00:51,920 Speaker 1: looking to get it done within hours. We'll have the 18 00:00:51,960 --> 00:00:55,240 Speaker 1: details on that for you as well. Now the President 19 00:00:55,320 --> 00:00:58,320 Speaker 1: isn't done there when it comes to helping you the 20 00:00:58,360 --> 00:01:02,040 Speaker 1: American taxpayer. We also now know that the President saying 21 00:01:02,040 --> 00:01:05,280 Speaker 1: it's time for the FED Chair Jerome Powell to be gone, 22 00:01:05,400 --> 00:01:08,760 Speaker 1: to resign and he's got two or three choices to 23 00:01:08,880 --> 00:01:13,640 Speaker 1: replace the FED chairman, which could save Americans literally trillions 24 00:01:13,640 --> 00:01:17,319 Speaker 1: of dollars in interest. I'll give you those details in 25 00:01:17,360 --> 00:01:20,160 Speaker 1: a moment. It's the forty seven Morning Update, and it 26 00:01:20,319 --> 00:01:21,479 Speaker 1: starts right now. 27 00:01:21,680 --> 00:01:22,720 Speaker 2: Story number one. 28 00:01:22,840 --> 00:01:25,319 Speaker 1: I just got off the phone moments ago with people 29 00:01:25,360 --> 00:01:27,720 Speaker 1: on Capitol Hill who are telling me that by the 30 00:01:27,760 --> 00:01:30,840 Speaker 1: time you hear this, there's a very good chance that 31 00:01:30,959 --> 00:01:34,040 Speaker 1: the Big Beautiful Bill will have already passed the House 32 00:01:34,080 --> 00:01:36,840 Speaker 1: of Representatives. Now I'm talking to you right now, a 33 00:01:36,880 --> 00:01:40,080 Speaker 1: little after midnight, and what I am being told is 34 00:01:40,120 --> 00:01:42,640 Speaker 1: that the Speaker says we're going to get it done, 35 00:01:43,000 --> 00:01:45,680 Speaker 1: and that means the President Donald Trump can do what 36 00:01:45,720 --> 00:01:49,360 Speaker 1: he wanted to do, sign this by July fourth. The 37 00:01:49,400 --> 00:01:52,840 Speaker 1: White House sang they're closing in on the House passage 38 00:01:52,840 --> 00:01:55,720 Speaker 1: of Trump's Big Beautiful Bill as well at this hour 39 00:01:56,280 --> 00:01:59,080 Speaker 1: is I just spoke with someone within the White House 40 00:01:59,080 --> 00:02:02,520 Speaker 1: staff that says we are very close to this becoming 41 00:02:02,520 --> 00:02:06,000 Speaker 1: a reality. The White House indicating that it is making 42 00:02:06,120 --> 00:02:11,120 Speaker 1: major progress, closing in on the present's top priority and 43 00:02:11,280 --> 00:02:16,120 Speaker 1: getting it quote to his desk by Independence Day. We 44 00:02:16,240 --> 00:02:21,080 Speaker 1: also know that Representative Ralph Norman a Republican from South Carolina, 45 00:02:21,120 --> 00:02:24,440 Speaker 1: had suggested quote that the White House is making progress 46 00:02:24,520 --> 00:02:27,600 Speaker 1: closing the deal on the Trump backed bill, saying, quote 47 00:02:28,120 --> 00:02:32,079 Speaker 1: the White House enlightened many Republican holdouts on how it's 48 00:02:32,200 --> 00:02:37,040 Speaker 1: implementation of the Big Beautiful Bill would accomplish what they want, 49 00:02:37,400 --> 00:02:40,800 Speaker 1: but wouldn't give specifics moving forward as they're trying to 50 00:02:40,880 --> 00:02:43,639 Speaker 1: keep things quiet and not be fought within the media. 51 00:02:44,320 --> 00:02:48,360 Speaker 1: Meredith Lee Hill, a congressional reporter also with Politico, is 52 00:02:48,400 --> 00:02:52,040 Speaker 1: reporting the House Speaker Mike Johnson had stated that the 53 00:02:52,080 --> 00:02:54,639 Speaker 1: House of Representatives was going to get the bill there 54 00:02:54,760 --> 00:02:59,000 Speaker 1: quote unquote tonight, adding that they were working on it 55 00:02:59,120 --> 00:03:02,880 Speaker 1: and very very positive about the progress that's being made. 56 00:03:03,639 --> 00:03:08,480 Speaker 1: Representative Andy Harris, a Republican from Maryland, also indicated that 57 00:03:08,560 --> 00:03:12,160 Speaker 1: it was quote a possibility that the House would still 58 00:03:12,280 --> 00:03:13,880 Speaker 1: vote today. 59 00:03:13,600 --> 00:03:14,280 Speaker 2: On the bill. 60 00:03:14,840 --> 00:03:18,520 Speaker 1: That according to another congressional reporter for punch Bowl News, 61 00:03:19,120 --> 00:03:22,040 Speaker 1: so you put all of this together, and what the 62 00:03:22,080 --> 00:03:25,760 Speaker 1: reality now is is that Trump could be within hours 63 00:03:26,320 --> 00:03:30,720 Speaker 1: of having his Big Beautiful Bill passed, after he successfully 64 00:03:30,720 --> 00:03:33,840 Speaker 1: secured the Senate passage of the bill on Tuesday after 65 00:03:33,919 --> 00:03:37,480 Speaker 1: an all night amendment voter rama which lasted a record 66 00:03:37,720 --> 00:03:41,080 Speaker 1: twenty seven hours, something we covered on the show as 67 00:03:41,120 --> 00:03:44,400 Speaker 1: well yesterday. We know that the President was thrilled to 68 00:03:44,520 --> 00:03:47,680 Speaker 1: secure the Senate passage of the bill after that all 69 00:03:47,720 --> 00:03:51,120 Speaker 1: not amendment voter rama, and he was happy that Vice 70 00:03:51,160 --> 00:03:54,440 Speaker 1: President Jade Vance was able to cast that tie breaking 71 00:03:54,560 --> 00:03:59,240 Speaker 1: vote in a victory for Trump that was well, so close, 72 00:03:59,440 --> 00:04:02,720 Speaker 1: but also so sweet and as good as it gets 73 00:04:02,920 --> 00:04:08,160 Speaker 1: right now in Washington, DC. So here we are after midnight, 74 00:04:08,400 --> 00:04:12,600 Speaker 1: and the reality is President Donald Trump is delivering on 75 00:04:12,800 --> 00:04:17,400 Speaker 1: his biggest campaign promise to date. We also know this 76 00:04:18,120 --> 00:04:22,640 Speaker 1: the President is also moving on to other major issues now. 77 00:04:22,680 --> 00:04:23,679 Speaker 2: Story number two. 78 00:04:23,880 --> 00:04:28,200 Speaker 1: Donald Trump is calling for the FED chair Powell to 79 00:04:28,400 --> 00:04:33,160 Speaker 1: quit quote immediately. Trump is ramping up the pressure on Powell, 80 00:04:33,440 --> 00:04:37,680 Speaker 1: urging lower interest rates against the Federal Reserve chairs continued 81 00:04:37,839 --> 00:04:41,680 Speaker 1: opposition the president, making it clear that it's time for 82 00:04:41,800 --> 00:04:45,240 Speaker 1: him to quote resign. In a true social post on 83 00:04:45,320 --> 00:04:49,200 Speaker 1: Wednesday in the late afternoon, Trump said too late, should 84 00:04:49,279 --> 00:04:53,400 Speaker 1: resign immediately. He also linked to a Bloomberg story headline 85 00:04:53,480 --> 00:04:59,960 Speaker 1: that says FED chair should be investigated by Congress the FHSA. 86 00:05:00,080 --> 00:05:03,720 Speaker 1: It is now saying Powell was nominated by Trump to 87 00:05:03,800 --> 00:05:07,080 Speaker 1: lead the FED during the first administration. Joe Biden, who 88 00:05:07,120 --> 00:05:10,400 Speaker 1: succeeded Trump as President, nominated him for a second term. 89 00:05:10,720 --> 00:05:13,080 Speaker 1: His tenure as the FED chair is set to end 90 00:05:13,600 --> 00:05:18,400 Speaker 1: May of twenty twenty six, and Trump is ramping up pressure, 91 00:05:18,520 --> 00:05:21,839 Speaker 1: saying I don't want to wait on Jerome Powell's tenure 92 00:05:22,080 --> 00:05:25,679 Speaker 1: to end, issuing a call for lower interest rates against 93 00:05:25,680 --> 00:05:30,560 Speaker 1: the Federal Reserve Chair and continued opposition and calling out 94 00:05:30,640 --> 00:05:36,080 Speaker 1: the failure of the Fed's monetary policy. For instance, earlier 95 00:05:36,120 --> 00:05:40,240 Speaker 1: this week, Donald Trump posted this, Jerome too late. Powell 96 00:05:40,640 --> 00:05:43,800 Speaker 1: and his entire board should be ashamed of themselves for 97 00:05:43,880 --> 00:05:46,440 Speaker 1: allowing this to happen in the United States of America. 98 00:05:46,920 --> 00:05:50,560 Speaker 1: They have one of the easiest yet most prestigious jobs 99 00:05:50,560 --> 00:05:54,240 Speaker 1: in America, and they've failed, and they continued to do so, 100 00:05:54,640 --> 00:05:57,800 Speaker 1: saying this. If they were doing their job properly, our 101 00:05:57,880 --> 00:06:02,080 Speaker 1: country would be saving trillions of day in interest costs. 102 00:06:02,279 --> 00:06:05,440 Speaker 1: The board just sits there and watches, so they are 103 00:06:05,520 --> 00:06:08,839 Speaker 1: equally to blame. We should be paying one percent interest 104 00:06:08,960 --> 00:06:12,120 Speaker 1: or better now. The post preceded Trump's Sonia letter to 105 00:06:12,160 --> 00:06:14,760 Speaker 1: Powell urging him to lower interest rates. The White House 106 00:06:14,800 --> 00:06:19,040 Speaker 1: Press Secretary Caroline Levitt told reporters. On Monday, Pallis stated 107 00:06:19,160 --> 00:06:22,480 Speaker 1: that the Fed's decision to hold off on dropping your 108 00:06:22,600 --> 00:06:27,120 Speaker 1: interest rates owes much to concern about the possible impacts 109 00:06:27,160 --> 00:06:31,599 Speaker 1: of quote tariffs on inflation that coming from CBS News 110 00:06:31,960 --> 00:06:34,400 Speaker 1: Now reports say he's waiting to see how the Trump 111 00:06:34,440 --> 00:06:38,040 Speaker 1: tearor policy quote plays out and what it ultimately does 112 00:06:38,160 --> 00:06:42,560 Speaker 1: to the US economy before making interest rate adjustments. Powell 113 00:06:42,560 --> 00:06:47,200 Speaker 1: has specifically said he wants to see longer term impacts, 114 00:06:47,240 --> 00:06:51,080 Speaker 1: if any, on consumer pricing. So I tell you that 115 00:06:51,240 --> 00:06:53,960 Speaker 1: story to just make it very clear there could be 116 00:06:54,000 --> 00:06:57,159 Speaker 1: some big changes coming very soon. But it also tells 117 00:06:57,200 --> 00:06:59,919 Speaker 1: you about the confidence that the president has that by 118 00:07:00,160 --> 00:07:02,760 Speaker 1: the time many of you hear this, he will already 119 00:07:02,800 --> 00:07:06,240 Speaker 1: have the biggest tax cut that we've seen in our 120 00:07:06,360 --> 00:07:10,320 Speaker 1: lifetime and turning it into a reality. So what does 121 00:07:10,360 --> 00:07:13,480 Speaker 1: that mean moving forward, Well, it means we could see 122 00:07:13,480 --> 00:07:17,720 Speaker 1: some pretty big changes here. The President even moving forward 123 00:07:17,720 --> 00:07:20,080 Speaker 1: to say there are quote two or three choices to 124 00:07:20,160 --> 00:07:24,440 Speaker 1: replace the FED chairman and saying on Tuesday, yes, I'm 125 00:07:24,480 --> 00:07:27,560 Speaker 1: ready to go. When asked to board Air Force one 126 00:07:27,760 --> 00:07:30,400 Speaker 1: whether he has a top choice to succeed your own pale, 127 00:07:30,840 --> 00:07:35,160 Speaker 1: Trump said exactly this, I have two or three top choices. 128 00:07:35,600 --> 00:07:39,480 Speaker 1: He declined to give any further information, yet again showing 129 00:07:39,520 --> 00:07:42,440 Speaker 1: how much Donald Trump's ready to move on. We also 130 00:07:42,560 --> 00:07:45,280 Speaker 1: know that The Wall Street Journal reported last week that 131 00:07:45,360 --> 00:07:49,560 Speaker 1: Trump is considering the former FED Governor Kevin Walsh and 132 00:07:49,880 --> 00:07:55,720 Speaker 1: National Economic Council Director Kevin Hassett as replacements. Also, Treasury 133 00:07:55,840 --> 00:07:58,840 Speaker 1: Secretary of Scott Descent is also being pitched as a 134 00:07:58,840 --> 00:08:03,000 Speaker 1: potential candidate. That according to Wall Street Journal, which also 135 00:08:03,120 --> 00:08:08,120 Speaker 1: listed former World Bank President and FED Governor Christopher Waller 136 00:08:08,320 --> 00:08:12,000 Speaker 1: as potential nominees. Now courting the Wall Street Journal, Trump 137 00:08:12,040 --> 00:08:15,080 Speaker 1: is toyed with the idea of selecting and announcing a 138 00:08:15,120 --> 00:08:19,800 Speaker 1: replacement as early as September or October. However, Thescent told 139 00:08:19,840 --> 00:08:23,240 Speaker 1: Bloomberg TV on Monday that the Trump administration is considering 140 00:08:23,360 --> 00:08:26,800 Speaker 1: using the next expected Federal Reserve Border governors vacancy in 141 00:08:26,880 --> 00:08:31,160 Speaker 1: early twenty twenty six to appoint a successor. Now. Since 142 00:08:31,200 --> 00:08:34,640 Speaker 1: returning to the White House in January, Trump has criticized Powell, 143 00:08:34,720 --> 00:08:38,480 Speaker 1: as well as other FED governors, for declining not to 144 00:08:38,640 --> 00:08:41,800 Speaker 1: lower interest rates, which are currently in the four point 145 00:08:41,800 --> 00:08:44,800 Speaker 1: twenty five to four point five to zero range. FED 146 00:08:44,920 --> 00:08:49,200 Speaker 1: chairs have long seen as insulated from presidential dismissal for 147 00:08:49,280 --> 00:08:54,200 Speaker 1: reasons other than malfeasan's or misconduct. That Trumps threatened to 148 00:08:54,240 --> 00:08:59,280 Speaker 1: test the legal premise with frequent threats to fire Jerome Powell. 149 00:09:00,120 --> 00:09:03,679 Speaker 1: Supreme Court ruling in May, by the way, he's concerns 150 00:09:03,800 --> 00:09:07,160 Speaker 1: that Trump could fire Powell, as the Justice called the 151 00:09:07,200 --> 00:09:13,439 Speaker 1: Fed quote a uniquely structured quasi private entity. So that 152 00:09:13,559 --> 00:09:16,880 Speaker 1: leaves us at this point where the president's clearly saying 153 00:09:17,080 --> 00:09:19,400 Speaker 1: he believes Jr. Own Powell on this board are the 154 00:09:19,440 --> 00:09:22,200 Speaker 1: wrong people for the job, and he wants to move 155 00:09:22,200 --> 00:09:25,360 Speaker 1: as quickly as possible to move the country in the 156 00:09:25,440 --> 00:09:28,400 Speaker 1: right direction. He also has made it clear that lower 157 00:09:28,440 --> 00:09:33,320 Speaker 1: interest rates save you countless dollars in interests, something that's 158 00:09:33,360 --> 00:09:37,080 Speaker 1: good he believes for the economy. So if you want 159 00:09:37,080 --> 00:09:39,640 Speaker 1: to know what's happening right now at the White House, 160 00:09:39,960 --> 00:09:43,480 Speaker 1: it's pretty clear the present's getting ready for a very 161 00:09:43,520 --> 00:09:46,760 Speaker 1: big Fourth of July celebration, and it's one that is 162 00:09:46,840 --> 00:09:51,000 Speaker 1: going to give you a huge advantage in your pocket book. 163 00:09:51,440 --> 00:09:54,360 Speaker 1: And he's not done there. He's also now looking to 164 00:09:54,440 --> 00:09:58,000 Speaker 1: lower interest rates for you as well, and that is 165 00:09:58,080 --> 00:10:01,440 Speaker 1: exactly what the America First tis agenda that Donald Trump 166 00:10:01,520 --> 00:10:04,280 Speaker 1: promised you looks like as we go into the fourth 167 00:10:04,280 --> 00:10:04,680 Speaker 1: of July. 168 00:10:05,000 --> 00:10:07,680 Speaker 2: Thank you for listening to the forty seven Morning Update 169 00:10:07,840 --> 00:10:11,920 Speaker 2: with Ben Ferguson. Please make sure you hit subscribe wherever 170 00:10:11,960 --> 00:10:15,000 Speaker 2: you're listening to this podcast right now and for more 171 00:10:15,040 --> 00:10:18,800 Speaker 2: in depth news, also subscribe to the Ben Ferguson podcast 172 00:10:19,040 --> 00:10:20,840 Speaker 2: and we will see you back here tomorrow.