White House Correspondent Jon Decker - President Trump's Week - What's Next w/the Fed
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Episode Transcript
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Speaker 1 (00:04):
Two sides to the story. There's only one side to
the facts.
Speaker 2 (00:08):
Welcome to the Brian Mud Show, and thank you for listening, Yeah,
sure enough, and joining us as always our White House
correspondent John Decker, who already I don't know where he
finds the time. He is not only our White House correspondent,
national editor for Grade Television, he is an adject law
(00:29):
professor Georgetown, UCLA. He's on more boards than I am
even aware of, and now also the host of the
brand new podcast debuted just on Monday, the White House
Briefing Room, which, by the way, I just added to
my presets on the iHeartRadio app.
Speaker 1 (00:48):
You should too, Good morning, John.
Speaker 3 (00:50):
Oh, that's very kind of you to plug that. I'm
really happy about that. It's just so I can plug
it a little bit for just a moment. It's fifteen
and that's long. That's it. So you can listen to
it on your way to work, on your way from work,
while you're preparing breakfast, preparing lunch for your kids, whatever.
And I'm giving you the straight scoop in terms of
(01:11):
what's happening at the White House. You notice from my
conversations with you, Brian, I don't have a bias. I
don't know spin the news. I just tell you straight
what's happening. And I'm an insider. I get an opportunity
to ask questions of the President virtually every day, or
the White House Press secretary, or in this case this
past week, the Director of National Intelligence. And I think
(01:34):
that that perspective and my years of covering the White
House since nineteen ninety five give me a unique perspective
in covering this very unique Trump White House.
Speaker 1 (01:44):
I would most certainly agree.
Speaker 4 (01:46):
And there's a lot of value there for listeners for sure.
So again check it out. The White House briefing room
with John Decker and John Speagin this week another one
of those where no slow summer weeks here.
Speaker 1 (01:58):
I mean, what do you want to talk about? Trump?
Speaker 4 (02:00):
RuSHA collusion, docs, Epstein, fed and Trumpy, any number of
things you name it.
Speaker 3 (02:07):
Yeah, no, I agree with you. It takes my breath
away the news cycle and the days that you know
I have at the White House in terms of all
of the news that comes out. And just one day yesterday,
the President making a very rare visit to the Federal
Reserve Building, meeting with the Federal Reserve Chairman Jerome Powell,
(02:27):
a person that he has given every indication he will
not renominate to service the FED chair when his term
expires in May, and getting a tour of the renovations
that the FED has been doing that the President has
not been happy about them. But the thing he's most
unhappy about, Brian, of course, is the fact that the
FED has not lowered interest rates once during the time
(02:51):
the President has been in office since January. By contrast,
the European Central Bank has lowered interest rates eight times
since January. And so that's one of those reasons why
the President is very dissatisfied with the Federal Reserve and
with Jerome Powell in particular, and.
Speaker 4 (03:10):
Not coincidentally, I believe next week the FED guests together
on their policy meeting, and you know, we'll see what's
going on over the FED yesterday and the next thing
I just want to kind of throw at you. So
Trump has won before the Supreme Court two decisions, one
in May on the National Labor Board Labor Board and
(03:31):
then this week on the Consumer Product Safety Commission, both
independent agencies, and they've allowed Trump to remove people from
these independent agencies now in the ruing. In May, they
did actually go out of their way and say, look,
the FED is a different ballgame. But do you think
that potentially opened the door for Trump to replace Powell,
who he continues to say that he does not intend
(03:53):
to replace, and he's going to let finish out his term.
Speaker 1 (03:57):
Yeah.
Speaker 3 (03:57):
I take the President in this case at his word.
I take the Treasury Secretary at his word that they
just realize it's eight months of dealing with Powell. And
I've made this point before. Remember he's just one vote.
When the Federal Open Market Committee votes to raise or
lower interest rates or keep them unchanged, you'd have to
(04:18):
replace the entire board, all twelve members that vote on
those issues in order to get your way. And the
way the President wants the FED to go is to
lower interest rates. He believes that it is hurting the economy.
It's making it more difficult for families to get a
reasonably priced mortgage in terms of its interest rate. It's
(04:40):
obviously increasing borrowing costs for our debt to service that debt.
And for all of those reasons, the President has been
urging the FED to lower interest rates. But let me
just give their point of view. They say they're concern
about slow down in economic growth and an increase in
inflation because of the president's tariffs policy, and that's the
(05:01):
reason why they have held off in terms of lowering
interest rates right now.
Speaker 4 (05:07):
Well, John, appreciate you checking in the update as always,
Congratulations on the podcast.
Speaker 1 (05:12):
Look forward to touching base soon.
Speaker 3 (05:14):
Have a great weekend, Brian, thanks so much, Talk to
you soon. Bye bye
Two sides to the story. There's only one side to
the facts.
Speaker 2 (00:08):
Welcome to the Brian Mud Show, and thank you for listening, Yeah,
sure enough, and joining us as always our White House
correspondent John Decker, who already I don't know where he
finds the time. He is not only our White House correspondent,
national editor for Grade Television, he is an adject law
(00:29):
professor Georgetown, UCLA. He's on more boards than I am
even aware of, and now also the host of the
brand new podcast debuted just on Monday, the White House
Briefing Room, which, by the way, I just added to
my presets on the iHeartRadio app.
Speaker 1 (00:48):
You should too, Good morning, John.
Speaker 3 (00:50):
Oh, that's very kind of you to plug that. I'm
really happy about that. It's just so I can plug
it a little bit for just a moment. It's fifteen
and that's long. That's it. So you can listen to
it on your way to work, on your way from work,
while you're preparing breakfast, preparing lunch for your kids, whatever.
And I'm giving you the straight scoop in terms of
(01:11):
what's happening at the White House. You notice from my
conversations with you, Brian, I don't have a bias. I
don't know spin the news. I just tell you straight
what's happening. And I'm an insider. I get an opportunity
to ask questions of the President virtually every day, or
the White House Press secretary, or in this case this
past week, the Director of National Intelligence. And I think
(01:34):
that that perspective and my years of covering the White
House since nineteen ninety five give me a unique perspective
in covering this very unique Trump White House.
Speaker 1 (01:44):
I would most certainly agree.
Speaker 4 (01:46):
And there's a lot of value there for listeners for sure.
So again check it out. The White House briefing room
with John Decker and John Speagin this week another one
of those where no slow summer weeks here.
Speaker 1 (01:58):
I mean, what do you want to talk about? Trump?
Speaker 4 (02:00):
RuSHA collusion, docs, Epstein, fed and Trumpy, any number of
things you name it.
Speaker 3 (02:07):
Yeah, no, I agree with you. It takes my breath
away the news cycle and the days that you know
I have at the White House in terms of all
of the news that comes out. And just one day yesterday,
the President making a very rare visit to the Federal
Reserve Building, meeting with the Federal Reserve Chairman Jerome Powell,
(02:27):
a person that he has given every indication he will
not renominate to service the FED chair when his term
expires in May, and getting a tour of the renovations
that the FED has been doing that the President has
not been happy about them. But the thing he's most
unhappy about, Brian, of course, is the fact that the
FED has not lowered interest rates once during the time
(02:51):
the President has been in office since January. By contrast,
the European Central Bank has lowered interest rates eight times
since January. And so that's one of those reasons why
the President is very dissatisfied with the Federal Reserve and
with Jerome Powell in particular, and.
Speaker 4 (03:10):
Not coincidentally, I believe next week the FED guests together
on their policy meeting, and you know, we'll see what's
going on over the FED yesterday and the next thing
I just want to kind of throw at you. So
Trump has won before the Supreme Court two decisions, one
in May on the National Labor Board Labor Board and
(03:31):
then this week on the Consumer Product Safety Commission, both
independent agencies, and they've allowed Trump to remove people from
these independent agencies now in the ruing. In May, they
did actually go out of their way and say, look,
the FED is a different ballgame. But do you think
that potentially opened the door for Trump to replace Powell,
who he continues to say that he does not intend
(03:53):
to replace, and he's going to let finish out his term.
Speaker 1 (03:57):
Yeah.
Speaker 3 (03:57):
I take the President in this case at his word.
I take the Treasury Secretary at his word that they
just realize it's eight months of dealing with Powell. And
I've made this point before. Remember he's just one vote.
When the Federal Open Market Committee votes to raise or
lower interest rates or keep them unchanged, you'd have to
(04:18):
replace the entire board, all twelve members that vote on
those issues in order to get your way. And the
way the President wants the FED to go is to
lower interest rates. He believes that it is hurting the economy.
It's making it more difficult for families to get a
reasonably priced mortgage in terms of its interest rate. It's
(04:40):
obviously increasing borrowing costs for our debt to service that debt.
And for all of those reasons, the President has been
urging the FED to lower interest rates. But let me
just give their point of view. They say they're concern
about slow down in economic growth and an increase in
inflation because of the president's tariffs policy, and that's the
(05:01):
reason why they have held off in terms of lowering
interest rates right now.
Speaker 4 (05:07):
Well, John, appreciate you checking in the update as always,
Congratulations on the podcast.
Speaker 1 (05:12):
Look forward to touching base soon.
Speaker 3 (05:14):
Have a great weekend, Brian, thanks so much, Talk to
you soon. Bye bye
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