Latest / The 47 Morning Update with Ben Ferguson / Powell Drops the Rate plus Dems still Using Name Calling to Charge the Radical Left

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Powell Drops the Rate plus Dems still Using Name Calling to Charge the Radical Left · The 47 Morning Update with Ben Ferguson

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