Episode Transcript
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Speaker 1 (00:01):
She originally from Somalia. So so how are they doing?
Is house your government? Do they have a president, do
they have a council? Do that anything to that police.
I love these people that come from a place with nothing, nothing,
no anything, and then they tell us.
Speaker 2 (00:18):
You're listening to the forty seven Morning Update with Ben Ferguson.
Speaker 3 (00:22):
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, finally the FED cuts rates
by a quarter percent, signaling two more cuts will be
coming this year.
Speaker 4 (00:40):
And it means that Donald Trump was right.
Speaker 3 (00:42):
Interest rates were far too high and now the Fed's
finally having to admit it. Also, you would think that
Democrats would have learned from their rhetoric and stop using
certain words after the assassination of Charlie Kirk. Well, apparently
they haven't learned anything. And now Hillary Quinton is out
there on the front lines activating the radical left and
(01:03):
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Speaker 3 (03:24):
It's the forty seven Morning Update and it starts right now.
Speaker 2 (03:27):
Story number one.
Speaker 3 (03:29):
Donald Trump has repeatedly urged the Fed to cut interest
rates more aggressively. For example, in June of this year,
he called for a full percentage point drop. Also, he
said the rates are at least three percentage points too
high now. Trump had criticized the Fed, especially the chair
Jerome Powell, for not cutting sooner or more deeply. He
(03:52):
made it very clear he believed that the cuts need
to come and it was holding the economy back. He
even talked about the idea that it was time to
get rid of Jerome power, that he should resign. Well,
Jerome is still there. But the good news is finally
the Feds have cut interest rates by a quarter percentage point.
And here's how the news hit on CNN tell.
Speaker 4 (04:15):
Us about this decision.
Speaker 5 (04:16):
Matt, Yeah, Brianna, the Fed just delivered an interest rate cut,
and it is the quarter point cut that was widely expected. Now,
this is a big deal because it is the first
interest rate cut of the second Trump administration, and it's
sending a clear message that Federal Reserve officials are more
worried about the slumping job market than they are about
(04:37):
stubborn inflation. They're acting now to try to shore up
the job market before this trouble turns into something worse,
and they're signally this concern in their new statement that
they just put out by inserting some new language that
I'll read to you now. Fed officials say that job
gains have slowed and the unemployment rate has edged up
(04:58):
but remains low. Fed officials also say that they have
judged that downside risks to employment have risen now. At
the same time, this statement also says that inflation has
moved up and remains somewhat elevated, which just gets at
this really difficult situation facing the FED where they're really
(05:19):
trying to fight a two front war, right, They're trying
to fix the job market, and they're trying to defeat
inflation at the same time. It is really difficult.
Speaker 1 (05:28):
Now.
Speaker 5 (05:28):
As far as the voting here, this was actually almost unanimous.
It was an eleven to one vote, with Fedschair Jerome
Powell joined by ten of his colleagues, including FED Governor
Lisa Cook, who the President has tried to fire. The
one dissenter is the Federal Reserve's newest member. That's Stephen Myron,
the Trump loyalist and White House economists. Not surprisingly, he
(05:52):
was in favor of a bigger cut of half of
a percentage point. Now looking forward to keep change with
the Fed's projections is they're now penciling in a total
of three interest rate cuts this year today's and two
more quarter point cuts. Now, that's a shift from June
when FED officials had previously just penciled in two interest
(06:14):
rate cuts. Now, what does all this mean to everyone
at home, Well, the fact that rates have come down
that could be helpful for people who have credit card
debt and people have floating rate debt like home equity
lines of credit. But we should be clear, this is
not a silver bullet that's going to fix the economy.
Interest rates do remain high. The Fed spiked interest rates
(06:35):
three years ago to try to fight inflation. That amounts
it to slamming the brakes on the economy. Now they're
not going pedal to the metal and hitting the gas.
They're sort of gradually taking their foot off the break. Now,
later this hour, Fed shar drum Powell, he's gonna take questions.
I'm interested to hear what he's going to say about
all of the pressure, the political pressure from the White
(06:56):
House on federals of officials, and how many more interest
rates he expects to have in the coming months.
Speaker 3 (07:03):
Betty Brian, I love how they're like, well, this could
be good for Americans.
Speaker 4 (07:08):
This is going to be massive, by the way for Americans.
Speaker 3 (07:10):
And this is exactly what the President has been advocating for,
saying that we need to move this in the right direction.
We also know from what was said by Powell that
you can expect that there is a very good chance
that more cuts could be coming on the regular.
Speaker 4 (07:26):
So is this a victory for all Americans?
Speaker 1 (07:29):
Yes?
Speaker 3 (07:30):
Is this a big victory for the fact that Jerome
Powell said it the way that he described it. Yes,
is it something that we should all celebrate. You better
believe it. Jerome Powell, in his own.
Speaker 6 (07:40):
Words, under what circumstances would a larger than twenty five
basis points rate cup be warranted? And how seriously was
that option entertained at your meeting this week?
Speaker 7 (07:52):
There wasn't widespread support at all for a fifty basis
point cut today. You know, I think we've done We've
done very large rate hikes and very lorde rate cuts
in the last five years. And you tend to do
those at a time when you feel that policy is
out of place and needs to move quickly to a
new place. That's not at all what I feel certainly now.
(08:13):
I feel like our policy has been doing the right
thing so far this year. I think we were right
to wait and see how tariffs and inflation and the
labor market evolved. I think we're now reacting to to
the much lower level of job creation and other evidence
of softening in the labor market and saying, well, those
risks are maybe not fully balanced, but moving in the
(08:34):
direction of balance now, and so that warrants a change
in policy.
Speaker 3 (08:38):
So even Jerome Powell having to admit he's probably gotten
it wrong for a while now, and he's having to
be honest that Donald Trump was right now.
Speaker 2 (08:47):
Story number two.
Speaker 3 (08:49):
Democrats have not learned a damn thing about their rhetoric
since the assassination of Charlie Kirk. In fact, if you
look at what they're saying, it's pretty clear they're doubling
down on their radical words and trying to inspire others.
Hillary Clinton now getting in on the action. She has
sparked a social media firestorm for promoting a book literally
(09:13):
warning about fascists and sick people. Clinton is ripping now
authoritarians referencing Donald Trump while promoting the new book from Teachers'
Union chief Randy Winingarden. The former Secretary of State and
presidential candidate. Hillary Clinton is getting blasted as she should
(09:35):
on social media for posting a picture supporting the American
Federation of Teachers president the chief's new book that suggests
her political opponents are in fact fascists. Congratulations, Hillary Clinton
said to my friend on quote Why fascists fear teachers
(09:55):
from banning books to controlling curriculum, authoritarian go after public
education because it's a quarterstone of democracy. Those are the
exact words posted by Hillary Clinton on Wednesday, along with
the picture of the American Federation of Teacher's Chief holding
the book. Randy's new book is a critical read for
(10:19):
this moment. She also wrote clearly talking about it, knowing
what had just happened to Charlie Kirk. Clinton was criticized
instantly by many conservatives online for the posts, which they
argued continued the smear campaign against political opponents that many
believe contributed to the assassination of Charlie Kirk. Why because
(10:40):
these are the words that are used by the assassin.
It's been one week since Charlie Kirk was murdered by
a lunatic who wrote about fascists on the shell casings,
is what one Republican said online. Now Randy has a
new book arguing everyone who disagrees with her views on
public education, which have destroyed public education in America, is
(11:05):
a fascist American culture project. Senior fellow writing this on X.
Hillary Clinton and Randy Weingarten are going full speed ahead
with this disgusting rhetoric right after Charlie Kirk's assassination. Sick people.
Charlie Kirk was murdered exactly one week ago. Another conservative
(11:27):
online a friend of mine, Jack Pasovic, said, and here's
Hillary Clinton today. They wrote an entire book on a
word they don't even understand. Is what another member of
the Huntington Beach City Council said on X the Room.
That's why y'all should read. Is what the Washington Free
Beacon investigative reporter Chick Ross also said.
Speaker 4 (11:49):
Yet Hillary Clinton knew what she was doing.
Speaker 3 (11:53):
She knew that this moment was a moment she could
bring people together, and instead she wanted to make sure
she incited more, using the words to undermine any conservative
out there and to justify another assassination. Democrats Hillary Clinton
and Randy Winegartner are still suggesting Republicans are fascists. An
(12:15):
account belonging to the Republican National Committee put out so
eloquently on X. They really can't help themselves, can they now.
Fox News reached out to Clinton's office for comment on
her post, which has now racked up more than two
million views. Guess what they didn't have time to get
(12:35):
back for comment. Have they read the book, is what
Winegarden said in a statement to Fox News Digital. If
they did, they discover it's a love letter to teachers.
Winegarden's book, which hits bookshelves this week, elaborates on reviews
on battling what she says is fascist ideology and how
it works to undermine democracy, opportunity, and public education as
(12:59):
we know it. By the way, we know that public
education has been a total disaster. And if you're a
parent that shows up your school board meetings, the last
administration of the FBI classified you as a domestic terrorist.
Now what is in the book, Well, here's more of it.
Attacks on schools and teachers have long been a hallmark
(13:20):
of fascist regimes, clearly referencing Donald Trump. Throughout history, as
many dictators rose to power, they began banning books and
controlling curriculum. The book's preview reads, Fascists fear teachers because
teachers foster and education and educated and empowered population that
(13:40):
can see past the propaganda and the scare tactics. Fascist
fear teachers because they teach young people how to think
for themselves. Now, let's be clear. The Democratic Party has
taken over the education system. It's where they've been doctrinated
children to be ashamed of America proud of it. It's
(14:01):
where they've indoctrinated children to hate this country. It's where
they've indoctrinated children to believe that anyone that disagrees with
them is somehow instantly a fascist or a Nazi or
Adolf Hitler, and they should be taken out. We also
know the youngest generation, forty two percent of them say
(14:22):
in new polling that it is appropriate to use violence
to go after people you disagree with, as long as
you justify it as saying you're trying to stop evil.
This is the Democratic Party, And if you think for
a moment they're going to stop actually doing these types
of things and learn from the assassination of Charlie Kirk,
(14:45):
you're wrong. They look at this as a success, and
they're still using the same words that were used by
the assassin to justify the killing of one of our own.
Speaker 2 (14:55):
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.