🔍 1. ICE Tracking App Controversy
- Topic: A segment criticizing CNN for covering an app called Ice Block, which allows users to report and share ICE agent sightings.
- Concerns Raised:
- The app is seen by critics as endangering ICE agents.
- Former ICE Director Tom Homan and others accuse CNN of promoting violence against federal officers.
- The app is described as “disgusting” and potentially illegal, with calls for DOJ investigation.
💰 2. Major Tax and Immigration Bill
- Overview: A detailed rundown of a new bill passed by the Senate, described as a major win for the “America First” agenda.
- Key Provisions:
- Largest tax cut in U.S. history for middle and working-class Americans.
- No tax on tips, overtime, Social Security, or American-made auto loans.
- Permanent increase to the child tax credit.
- Massive investment in border security and immigration enforcement:
- Deportation of at least 1 million illegal immigrants annually.
- Hiring of thousands of ICE, Customs, and Border Patrol agents.
- Completion of Phase 2 of the border wall.
- Cuts to green energy funding and federal program waste.
- Military modernization and Coast Guard upgrades.
- Emphasis on energy independence through domestic oil, gas, and nuclear power.
📉 3. Trump vs. Federal Reserve Chair Jerome Powell
- Conflict: Trump is calling for Powell’s resignation, criticizing the Fed’s refusal to lower interest rates.
- Claims:
- Trump blames Powell for high interest costs and economic stagnation.
- He suggests replacing Powell with one of several potential candidates.
- Trump is reportedly considering announcing a successor before Powell’s term ends in 2026.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
But I never want to hurt our farmers. Our farmers
are great people.
Speaker 2 (00:04):
They keep us happy and healthy. In fact, you're listening
to the forty seven Morning Update with Ben Ferguson.
Speaker 3 (00:11):
Good Saturday morning to you, Ben Ferguson with you, and
these are some of the stories that you may have
missed that we talked about this week on the forty
seven Morning Update. First up, in a shocking move, a
major TV network is now helping warn individuals where ICE
agents are so that they can get away from being
(00:31):
held accountable for breaking our laws. Who's doing it? We'll
expose that coming up as well. Also, what made it
into the bill that is now headed back to the
House from the Senate. I break it all down for
you and I'll have all those details for you about
exactly what made it in this bill in just a moment.
And finally, we also now know that the President saying
(00:54):
it's time for the FED chair Jerome Powell to be
gone to resign, and he's got two or three choices
to replace the FED chairman, which could save Americans literally
trillions of dollars in interests. I'll give you those details
in a moment. It's the forty seven morning update and
it starts right now.
Speaker 2 (01:13):
Story number one.
Speaker 3 (01:14):
The media yet again putting ICE agents lives at risk,
this time CNN featuring a segment on ice Block. It
is an app that lets users anonymously crowd source ICE
agents sidings across a mapp and send alerts to others
within a five mile radius. Now, the app's creator framed
(01:37):
as a quote harmless early warning system to help people
avoid ICE, not to incite violence against the agents. Ice
Block enforces constraints, they claim as well, one post every
five minutes, auto deletion after four hours, and explicitly recommends
users not interfere with officers. That's their get out a
(02:00):
jail free card. Apparently. The White House Press Secretary Caroline
Levitt accusing CNN of encouraging violence by publicizing the app,
especially amid a reported five hundred percent surge in assaults
on ICE agents nationwide. The acting ICE Director called CNN's
coverage quote reckless and irresponsible, warning that it paints a
(02:22):
target on federal law enforcement officers. Backs and Tom Homan,
the former ICE Director, and the current borders are branded
the app is simply disgusting, and urge the DOJ to
investigate CNN's role in all of this. I want you
to hear more of what Tom Holman had to say
on Fox News Channel about this.
Speaker 1 (02:44):
Well, this next story is outrageous. A new iPhone app
is a learning people about ice sightings in their area.
As if that's not bad enough, CNN it appears to
be promoting the app, talking to the creator and doing
a whole story on him that is not sitting well
with my name borders our time home and joins me. Now, Tom,
they've crossed the line here. This is out of control.
Speaker 4 (03:08):
I know. It's just simply disgusting, and any network that
covers that is disgusting as well. So I'm hoping DOJ
steps in here and see if they cross side line
and I'm impeding federal law enforcement ofshiers. Look, Lawrence, you're
not talking about this pasult again. SIS is up over
five percent. Now you've got an app that's going to
tell where ice operators are going to be. It's only
a matter of time where ice ages are ambushed by
(03:29):
some nut like we're happening in LA throwing them out
top cocktail, throwing bricks, and these officers, this is just
this is just disgusting at every level. So I hope
DOJ dives in this deeply because you know, Ice is
constant on public safety threats and national security threads. This
shouldn't be a partisan issue. There shouldn't be an issue
anybody's is against. So they're already a dangerous jibe going
(03:49):
after the worst and worst. These guys are putting their
lives on the line every day, going after the worst
and worst internationalecurity threat, and this app makes it that
much more dangerous. It's it's incredible that those who force law,
all of a sudden, they're the bad guys you wanted
to break the law. They're victims. It's disgusting. Why was
seeing INN promote this? Why would they do a story
on this? I can't figure it out. I've look I've
(04:10):
been doing this for four decades. I've never seen anything
like this in my life. You know, it's got to
be they hate Trump more than love law enforcement or
I can't figure it out, but something needs to be done.
I mean, you advertise this guy's app on a national
TV network, This is going to bring more followers, sick
followers to the app and use it again, letting the
(04:30):
bad guy no Ice is coming. They're here. Here's where
they're going next. This is dangerous for the men and
women law enforcement.
Speaker 1 (04:39):
So true, Tom, I want to.
Speaker 3 (04:40):
Get Tom Homan clearly slamming CNN for promoting the ice
tracking app and now is saying maybe it's time for
law enforcement, the DOJ to step in here and see
if they cross the line impeding federal law enforcement officers
yet again, another example of how the Left is doing
everything they can to protect to legal immigrants and put
(05:02):
American lives at risk.
Speaker 2 (05:05):
Next story number two.
Speaker 3 (05:06):
Now you may be asking yourself what is actually in
this bill that has left the Senate. Let me give
you that list because it's an important one. Number one,
this bill delivers the largest tax cut in history of
the United States of America for middle and working class Americans.
Bigger paychecks of ten thousand dollars more in annual take
(05:30):
home pay for families as well, a massive campaign idea
is now reality. No tax on tips, which will expand
middle class America like we've never seen before. We also
are going to reward people that work hard with no
tax on overtime, incentivizing people to work more to get ahead,
(05:53):
and something that should have happened a long time ago.
No tax on social Security, giving more security to seniors,
especially when cost of living has skyrocketed. We also have
no tax on made and America auto loans. Let me
say that again, no tax on made in America auto loans,
(06:16):
which will help prop up American made automobiles and incentivize
Americans to look at America first. It will also help
with massive amounts of manufacturing jobs, keeping Americans working in manufacturing.
It also protects two million family farms from punitive double taxation,
(06:36):
something that's been a huge problem in this country. Permanent
increases to the child tax credit. Let me say that again,
permanent increases to the child tax credit, supporting over forty
million American families. Also, a vote against this bill is
a vote for the largest tax increase in history, something
(06:58):
that Republicans did a very good job of selling to
the American people. It also, in this bill rescinded billions
in green news scam funding, which Doge and the Trump
administration had exposed in the last several months. It restores
fiscal sanity, slashing deficits by roughly two trillion dollars. Yes,
(07:21):
there are many in the House that want more than that,
and we'll have to see what happens moving forward. We
also know that this bill eliminated waste, fraud, and abuse
from the bloated federal programs that we have now been
exposing through DOGE and permanently securing our southern and northern borders,
(07:41):
something the President said needed to be in this bill.
We also know that this bill deports at least one
million illegal aliens a year. Yes, that is also in
the bill, and it makes the largest investment in border
security in an entire generation, providing nearly one hundred and
(08:01):
fifty billion to secure our border and also to deport
illegal aliens, which the American people voted for. The bill
also includes finishing Phase two of the border wall, something
Donald Trump campaigned on back all the way in twenty sixteen,
and it shifts the cost of adjudication in the immigration
(08:24):
system from the American taxpayer to the illegal aliens. We
also know that we're hiring it because of this bill,
hiring ten thousand new ice agents, more than five thousand
customs officers, and more than three thousand new border patrol agents,
(08:45):
yet again sending a message to the cartels and terrorists
that you don't want to try to sneak in to
the United States of America or ship your drugs into
this country, because we're coming for you. There's also funds
for the goal Golden Dome Missile Defense System to confront
the twenty first century threats, something the President and the
(09:07):
DoD talked about extensively with the American people. We know
that we need to put America first when it comes
to our national security, and that's exactly why the funds
were included in this bill for the Golden Dome Missile
Defense System. We also know the bill delivers the largest
coast guard upgrade since World War Two. Why are we
(09:28):
doing that? Because that's where the fetinyl is coming into
this country and the criminal cartels are clearly exploiting our
open seas. Now we will have the largest coastguard upgrade
that we've had since World War Two, something that needed
to happen decades ago. Finally, the bill modernized our military
(09:49):
to ensure it has the resources to be ready and
encourages a lethal fighting force after four years of weakness
by the Biden administration. We follow behind China, but ninety longer.
It also ends Biden's war on American energy and drives
down energy costs, something that was important in this bill
(10:11):
to make sure that we as a nation are in
fact energy independent, something that the prior administration did everything
they could to make sure that we were weak as
a nation. And it also unleashes domestic oil, domestic gas,
as well as nuclear power, restoring what made America great
(10:32):
all along, the ability to function without relying on Middle
Eastern countries or anyone else that's producing oil around the world,
including places like Russia. So if you want to know
what's in this America first, this big, this beautiful bill,
well here's what's in it. Now it moves back to
the House and hopefully it will be moving within days
(10:56):
to the President's desk.
Speaker 2 (10:58):
And here is story number three.
Speaker 3 (11:00):
We also know this. The President is also moving on
to other major issues. For example, Donald Trump is calling
for the Fed Chair Powell to quit quote immediately. Trump
is ramping up the pressure on Powell, urging lower interest
rates against the Federal Reserve Chair's continued opposition the president
(11:24):
making it clear that it's time for him to quote resign.
In a true Social post on Wednesday in the late afternoon,
Trump said too late, should resign immediately. He also linked
to a Bloomberg story headline that says FED chair should
be investigated by Congress. The FHSA head is now saying
(11:47):
Powell was nominated by Trump to lead the FED during
the first administration. Joe Biden, who succeeded Trump as President,
nominated him for a second term. His tenure as the
FED chair is set to end of twenty twenty six,
and Trump is ramping up pressure, saying I don't want
to wait on Jerome Powell's tenure to end, issuing a
(12:10):
call for lower interest rates against the Federal Reserve Chair
and continued opposition and calling out the failure of the
Fed's monetary policy. For instance, earlier this week, Donald Trump
posted this, Jerome too late. Powell and his entire board
should be ashamed of themselves for allowing this to happen
(12:32):
in the United States of America. They have one of
the easiest yet most prestigious jobs in America, and they've failed,
and they continue to do so, saying this, If they
were doing their job properly, our country would be saving
trillions of dollars in interest costs. The board just sits
there and watches, so they are equally to blame. We
(12:55):
should be paying one percent interest or better now The
post preceded Trump's letter to Powell urging him to lower
interest rates. The White House Press Secretary Caroline Levitt told
reporters on Monday. Pallis stated that the Fed's decision to
hold off on dropping your interest rates owes much to
concern about the possible impacts of quote tariffs on inflation
(13:19):
that coming from CBS News Now reports say he's waiting
to see how the Trump tearor policy quote plays out
and what it ultimately does to the US economy before
making interest rate adjustments. Powell has specifically said he wants
to see longer term impacts, if any, on consumer pricing.
(13:41):
So I tell you that story to just make it
very clear there could be some big changes coming very soon.
But it also tells you about the confidence that the
President has that by the time many of you hear this,
he will already have the biggest tax cut that we've
seen in our lifetime and turn it into a reality.
(14:02):
So what does that mean moving forward, Well, it means
we could see some pretty big changes here. The President
even moving forward to say there are quote two or
three choices to replace the FED chairman and saying on Tuesday, yes,
I'm ready to go. When asked to board Air Force
one whether he has a top choice to succeed your
(14:23):
own Powell, Trump said exactly this, I have two or
three top choices. He declined to give any further information,
yet again showing how much Donald Trump's ready to move on.
We also know that The Wall Street Journal reported last
week that Trump is considering the former FED Governor Kevin
Walsh and National Economic Council Director Kevin Hassett as replacements. Also,
(14:49):
Treasury Secretary of Scott descent is also being pitched as
a potential candidate that according to The Wall Street Journal, which
also listed former World Bank President and FED Governor Christopher
Waller as potential nominees. Now courting the Wall Street Journal,
Trump is toyed with the idea of selecting and announcing
a replacement as early as September or October. However, the
(15:13):
sent told Bloomberg TV on Monday that the Trump administration
is considering using the next expected Federal Reserve Border governor's
vacancy in early twenty twenty six to appoint a successor.
Now since returned to the White House in January, Trump
has criticized Powell, as well as other Fed governors for
declining not to lower interest rates, which are currently in
(15:35):
the four point twenty five to four point five zero range.
FED chairs have long seen as insulated from presidential dismissal
for reasons other than malfeasan's or misconduct. That Trump is
threatened to test the legal premise with frequent threats to
fire Jerome Powell now Supreme Court ruling in May by
(15:56):
the way, he's concerns that Trump could fire Powell, as
the Justice called the FED quote a uniquely structured quasi
private entity. So that leaves us at this point where
the president's clearly saying he believes Jerome Power on this
board are the wrong people for the job, and he
wants to move as quickly as possible to move the
(16:18):
country in the right direction. He also has made it
clear that lower interest rates save you countless dollars in interests,
something that's good he believes for the economy. So if
you want to know what's happening right now at the
White House, it's pretty clear the present's getting ready for
a very big Fourth of July celebration, and it's one
(16:40):
that is going to give you a huge advantage in
your pocket book and He's not done there. He's also
now looking to lower interest rates for you as well,
and that is exactly what the America First Agenda that
Donald Trump promised you looks like as we go into
the fourth of July.
Speaker 2 (16:59):
Thank you for listening to the forty seven Morning Update
with Ben Ferguson. Please make sure you hit subscribe wherever
you're listening to this podcast right now and for more
in depth news, also subscribe to the Ben Ferguson podcast
and we will see you back here on Monday morning.
But I never want to hurt our farmers. Our farmers
are great people.
Speaker 2 (00:04):
They keep us happy and healthy. In fact, you're listening
to the forty seven Morning Update with Ben Ferguson.
Speaker 3 (00:11):
Good Saturday morning to you, Ben Ferguson with you, and
these are some of the stories that you may have
missed that we talked about this week on the forty
seven Morning Update. First up, in a shocking move, a
major TV network is now helping warn individuals where ICE
agents are so that they can get away from being
(00:31):
held accountable for breaking our laws. Who's doing it? We'll
expose that coming up as well. Also, what made it
into the bill that is now headed back to the
House from the Senate. I break it all down for
you and I'll have all those details for you about
exactly what made it in this bill in just a moment.
And finally, we also now know that the President saying
(00:54):
it's time for the FED chair Jerome Powell to be
gone to resign, and he's got two or three choices
to replace the FED chairman, which could save Americans literally
trillions of dollars in interests. I'll give you those details
in a moment. It's the forty seven morning update and
it starts right now.
Speaker 2 (01:13):
Story number one.
Speaker 3 (01:14):
The media yet again putting ICE agents lives at risk,
this time CNN featuring a segment on ice Block. It
is an app that lets users anonymously crowd source ICE
agents sidings across a mapp and send alerts to others
within a five mile radius. Now, the app's creator framed
(01:37):
as a quote harmless early warning system to help people
avoid ICE, not to incite violence against the agents. Ice
Block enforces constraints, they claim as well, one post every
five minutes, auto deletion after four hours, and explicitly recommends
users not interfere with officers. That's their get out a
(02:00):
jail free card. Apparently. The White House Press Secretary Caroline
Levitt accusing CNN of encouraging violence by publicizing the app,
especially amid a reported five hundred percent surge in assaults
on ICE agents nationwide. The acting ICE Director called CNN's
coverage quote reckless and irresponsible, warning that it paints a
(02:22):
target on federal law enforcement officers. Backs and Tom Homan,
the former ICE Director, and the current borders are branded
the app is simply disgusting, and urge the DOJ to
investigate CNN's role in all of this. I want you
to hear more of what Tom Holman had to say
on Fox News Channel about this.
Speaker 1 (02:44):
Well, this next story is outrageous. A new iPhone app
is a learning people about ice sightings in their area.
As if that's not bad enough, CNN it appears to
be promoting the app, talking to the creator and doing
a whole story on him that is not sitting well
with my name borders our time home and joins me. Now, Tom,
they've crossed the line here. This is out of control.
Speaker 4 (03:08):
I know. It's just simply disgusting, and any network that
covers that is disgusting as well. So I'm hoping DOJ
steps in here and see if they cross side line
and I'm impeding federal law enforcement ofshiers. Look, Lawrence, you're
not talking about this pasult again. SIS is up over
five percent. Now you've got an app that's going to
tell where ice operators are going to be. It's only
a matter of time where ice ages are ambushed by
(03:29):
some nut like we're happening in LA throwing them out
top cocktail, throwing bricks, and these officers, this is just
this is just disgusting at every level. So I hope
DOJ dives in this deeply because you know, Ice is
constant on public safety threats and national security threads. This
shouldn't be a partisan issue. There shouldn't be an issue
anybody's is against. So they're already a dangerous jibe going
(03:49):
after the worst and worst. These guys are putting their
lives on the line every day, going after the worst
and worst internationalecurity threat, and this app makes it that
much more dangerous. It's it's incredible that those who force law,
all of a sudden, they're the bad guys you wanted
to break the law. They're victims. It's disgusting. Why was
seeing INN promote this? Why would they do a story
on this? I can't figure it out. I've look I've
(04:10):
been doing this for four decades. I've never seen anything
like this in my life. You know, it's got to
be they hate Trump more than love law enforcement or
I can't figure it out, but something needs to be done.
I mean, you advertise this guy's app on a national
TV network, This is going to bring more followers, sick
followers to the app and use it again, letting the
(04:30):
bad guy no Ice is coming. They're here. Here's where
they're going next. This is dangerous for the men and
women law enforcement.
Speaker 1 (04:39):
So true, Tom, I want to.
Speaker 3 (04:40):
Get Tom Homan clearly slamming CNN for promoting the ice
tracking app and now is saying maybe it's time for
law enforcement, the DOJ to step in here and see
if they cross the line impeding federal law enforcement officers
yet again, another example of how the Left is doing
everything they can to protect to legal immigrants and put
(05:02):
American lives at risk.
Speaker 2 (05:05):
Next story number two.
Speaker 3 (05:06):
Now you may be asking yourself what is actually in
this bill that has left the Senate. Let me give
you that list because it's an important one. Number one,
this bill delivers the largest tax cut in history of
the United States of America for middle and working class Americans.
Bigger paychecks of ten thousand dollars more in annual take
(05:30):
home pay for families as well, a massive campaign idea
is now reality. No tax on tips, which will expand
middle class America like we've never seen before. We also
are going to reward people that work hard with no
tax on overtime, incentivizing people to work more to get ahead,
(05:53):
and something that should have happened a long time ago.
No tax on social Security, giving more security to seniors,
especially when cost of living has skyrocketed. We also have
no tax on made and America auto loans. Let me
say that again, no tax on made in America auto loans,
(06:16):
which will help prop up American made automobiles and incentivize
Americans to look at America first. It will also help
with massive amounts of manufacturing jobs, keeping Americans working in manufacturing.
It also protects two million family farms from punitive double taxation,
(06:36):
something that's been a huge problem in this country. Permanent
increases to the child tax credit. Let me say that again,
permanent increases to the child tax credit, supporting over forty
million American families. Also, a vote against this bill is
a vote for the largest tax increase in history, something
(06:58):
that Republicans did a very good job of selling to
the American people. It also, in this bill rescinded billions
in green news scam funding, which Doge and the Trump
administration had exposed in the last several months. It restores
fiscal sanity, slashing deficits by roughly two trillion dollars. Yes,
(07:21):
there are many in the House that want more than that,
and we'll have to see what happens moving forward. We
also know that this bill eliminated waste, fraud, and abuse
from the bloated federal programs that we have now been
exposing through DOGE and permanently securing our southern and northern borders,
(07:41):
something the President said needed to be in this bill.
We also know that this bill deports at least one
million illegal aliens a year. Yes, that is also in
the bill, and it makes the largest investment in border
security in an entire generation, providing nearly one hundred and
(08:01):
fifty billion to secure our border and also to deport
illegal aliens, which the American people voted for. The bill
also includes finishing Phase two of the border wall, something
Donald Trump campaigned on back all the way in twenty sixteen,
and it shifts the cost of adjudication in the immigration
(08:24):
system from the American taxpayer to the illegal aliens. We
also know that we're hiring it because of this bill,
hiring ten thousand new ice agents, more than five thousand
customs officers, and more than three thousand new border patrol agents,
(08:45):
yet again sending a message to the cartels and terrorists
that you don't want to try to sneak in to
the United States of America or ship your drugs into
this country, because we're coming for you. There's also funds
for the goal Golden Dome Missile Defense System to confront
the twenty first century threats, something the President and the
(09:07):
DoD talked about extensively with the American people. We know
that we need to put America first when it comes
to our national security, and that's exactly why the funds
were included in this bill for the Golden Dome Missile
Defense System. We also know the bill delivers the largest
coast guard upgrade since World War Two. Why are we
(09:28):
doing that? Because that's where the fetinyl is coming into
this country and the criminal cartels are clearly exploiting our
open seas. Now we will have the largest coastguard upgrade
that we've had since World War Two, something that needed
to happen decades ago. Finally, the bill modernized our military
(09:49):
to ensure it has the resources to be ready and
encourages a lethal fighting force after four years of weakness
by the Biden administration. We follow behind China, but ninety longer.
It also ends Biden's war on American energy and drives
down energy costs, something that was important in this bill
(10:11):
to make sure that we as a nation are in
fact energy independent, something that the prior administration did everything
they could to make sure that we were weak as
a nation. And it also unleashes domestic oil, domestic gas,
as well as nuclear power, restoring what made America great
(10:32):
all along, the ability to function without relying on Middle
Eastern countries or anyone else that's producing oil around the world,
including places like Russia. So if you want to know
what's in this America first, this big, this beautiful bill,
well here's what's in it. Now it moves back to
the House and hopefully it will be moving within days
(10:56):
to the President's desk.
Speaker 2 (10:58):
And here is story number three.
Speaker 3 (11:00):
We also know this. The President is also moving on
to other major issues. For example, Donald Trump is calling
for the Fed Chair Powell to quit quote immediately. Trump
is ramping up the pressure on Powell, urging lower interest
rates against the Federal Reserve Chair's continued opposition the president
(11:24):
making it clear that it's time for him to quote resign.
In a true Social post on Wednesday in the late afternoon,
Trump said too late, should resign immediately. He also linked
to a Bloomberg story headline that says FED chair should
be investigated by Congress. The FHSA head is now saying
(11:47):
Powell was nominated by Trump to lead the FED during
the first administration. Joe Biden, who succeeded Trump as President,
nominated him for a second term. His tenure as the
FED chair is set to end of twenty twenty six,
and Trump is ramping up pressure, saying I don't want
to wait on Jerome Powell's tenure to end, issuing a
(12:10):
call for lower interest rates against the Federal Reserve Chair
and continued opposition and calling out the failure of the
Fed's monetary policy. For instance, earlier this week, Donald Trump
posted this, Jerome too late. Powell and his entire board
should be ashamed of themselves for allowing this to happen
(12:32):
in the United States of America. They have one of
the easiest yet most prestigious jobs in America, and they've failed,
and they continue to do so, saying this, If they
were doing their job properly, our country would be saving
trillions of dollars in interest costs. The board just sits
there and watches, so they are equally to blame. We
(12:55):
should be paying one percent interest or better now The
post preceded Trump's letter to Powell urging him to lower
interest rates. The White House Press Secretary Caroline Levitt told
reporters on Monday. Pallis stated that the Fed's decision to
hold off on dropping your interest rates owes much to
concern about the possible impacts of quote tariffs on inflation
(13:19):
that coming from CBS News Now reports say he's waiting
to see how the Trump tearor policy quote plays out
and what it ultimately does to the US economy before
making interest rate adjustments. Powell has specifically said he wants
to see longer term impacts, if any, on consumer pricing.
(13:41):
So I tell you that story to just make it
very clear there could be some big changes coming very soon.
But it also tells you about the confidence that the
President has that by the time many of you hear this,
he will already have the biggest tax cut that we've
seen in our lifetime and turn it into a reality.
(14:02):
So what does that mean moving forward, Well, it means
we could see some pretty big changes here. The President
even moving forward to say there are quote two or
three choices to replace the FED chairman and saying on Tuesday, yes,
I'm ready to go. When asked to board Air Force
one whether he has a top choice to succeed your
(14:23):
own Powell, Trump said exactly this, I have two or
three top choices. He declined to give any further information,
yet again showing how much Donald Trump's ready to move on.
We also know that The Wall Street Journal reported last
week that Trump is considering the former FED Governor Kevin
Walsh and National Economic Council Director Kevin Hassett as replacements. Also,
(14:49):
Treasury Secretary of Scott descent is also being pitched as
a potential candidate that according to The Wall Street Journal, which
also listed former World Bank President and FED Governor Christopher
Waller as potential nominees. Now courting the Wall Street Journal,
Trump is toyed with the idea of selecting and announcing
a replacement as early as September or October. However, the
(15:13):
sent told Bloomberg TV on Monday that the Trump administration
is considering using the next expected Federal Reserve Border governor's
vacancy in early twenty twenty six to appoint a successor.
Now since returned to the White House in January, Trump
has criticized Powell, as well as other Fed governors for
declining not to lower interest rates, which are currently in
(15:35):
the four point twenty five to four point five zero range.
FED chairs have long seen as insulated from presidential dismissal
for reasons other than malfeasan's or misconduct. That Trump is
threatened to test the legal premise with frequent threats to
fire Jerome Powell now Supreme Court ruling in May by
(15:56):
the way, he's concerns that Trump could fire Powell, as
the Justice called the FED quote a uniquely structured quasi
private entity. So that leaves us at this point where
the president's clearly saying he believes Jerome Power on this
board are the wrong people for the job, and he
wants to move as quickly as possible to move the
(16:18):
country in the right direction. He also has made it
clear that lower interest rates save you countless dollars in interests,
something that's good he believes for the economy. So if
you want to know what's happening right now at the
White House, it's pretty clear the present's getting ready for
a very big Fourth of July celebration, and it's one
(16:40):
that is going to give you a huge advantage in
your pocket book and He's not done there. He's also
now looking to lower interest rates for you as well,
and that is exactly what the America First Agenda that
Donald Trump promised you looks like as we go into
the fourth of July.
Speaker 2 (16:59):
Thank you for listening to the forty seven Morning Update
with Ben Ferguson. Please make sure you hit subscribe wherever
you're listening to this podcast right now and for more
in depth news, also subscribe to the Ben Ferguson podcast
and we will see you back here on Monday morning.
Host
Ben Ferguson
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