2PM ET 07/14/2026 Newscast

Summary

Fox News Hourly Update – 2PM ET 07/14/2026 – Podcast Summary

Overview

This hour’s Fox News Update delivers coverage of major political and global developments. Key topics include President Trump’s reversal on a shipping fee plan in the Persian Gulf, escalating tensions with Iran, economic updates from the Federal Reserve, high-profile hearings on Capitol Hill, the health announcement of “Sully” Sullenberger, and a historic Senate appointment in South Carolina.

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Presidential Pivot on Strait of Hormuz Fee

Discussion Points:

• President Trump has abandoned his plan to impose a fee for securing commercial cargo through the Strait of Hormuz.
• The decision came after discussions with Middle Eastern leaders; the fee will be replaced by new trade and investment agreements with Gulf partners.
• Trump’s rationale: upholding free passage through the strait.

Notable Quotes:

• President Trump (00:26): “And I like that, actually, because I don't think anybody should be able to charge a fee for the for the strait.”

Context:

• Iran continues to assert control over the strait and has targeted commercial vessels, further increasing regional tensions.

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U.S., Iran Tensions Escalate

Key Insights:

• U.S. blockade on Iranian shipping to resume two hours after podcast time.
• Trump expresses no regret about his prior decision to lift the blockade, justifying it as an attempt to reach a deal.
• Details about recent failed negotiations with Iran; Iran is accused of attacking first, resulting in U.S. retaliatory action.

Notable Quotes:

• President Trump (00:45): “I wanted to give them a chance at making a deal. You know, we had a deal two days ago, it was done and then all of a sudden they couldn't do it. … And they shot first. And that was a big mistake that they shot first because we have been knocking the hell out of them in return.”

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Gulf Security and Regional Response

Highlights:

• Iran continues assaulting Gulf neighbors and commercial shipping.
• UAE threatens retaliatory strikes after attack casualties: two dead, fourteen wounded.
• President Trump meets with Iraq’s new prime minister to discuss disarming Iran-linked militias; U.S. troop withdrawal from Iraq expected by end of September.

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Economic Update: Inflation & Federal Reserve

Key Points:

• Consumer prices fell in June, but Federal Reserve Chair Kevin Warsh cautions against overinterpreting a single report.
• Gas price drops contributed to the dip in inflation, but prices began rising again shortly after.
• Warsh signals no advance indications (“hints”) will be given before decisions on interest rates.

Notable Quotes:

• Kevin Warsh (01:34): “There might be some that look at this morning's data and say, oh, mission accomplished, everything is swell. That is not my view.”

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Supreme Court Testifies on Security, Public Trust

Key Issues:

• Two Supreme Court justices appear before Congress on the court’s security budget; the hearing turns to declining trust in legal institutions.
• Lawmakers, including Rep. Rosa DeLauro, push for greater transparency and enforceable ethics code.
• Concerns raised about the court’s “shadow docket”—emergency rulings issued without full briefing or signatures.
• Justice Amy Coney Barrett describes the urgent nature of these cases; Justice Elena Kagan notes increasing usage.

Notable Quotes:

• Rep. Rosa DeLauro (02:33): “To restore this trust, we must provide more transparency through increased financial disclosure requirements and a binding enforceable code of ethics.”
• Justice Amy Coney Barrett (02:56): “It's like you just take all comers and you have to grant or deny these motions as they're filed.”

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Headlines & Human Interest

Sully Sullenberger’s Health Announcement

• Captain “Sully” Sullenberger, famed for the “Miracle on the Hudson,” reveals early-stage Alzheimer’s diagnosis to People magazine, aiming to raise awareness.
  [03:08]

Historic Appointment: Darlene Graham to U.S. Senate

• Darlene Graham, sister of late Senator Lindsey Graham, is sworn in to represent South Carolina. She is the first woman from the state in the Senate.
• Appointed by Governor Henry McMaster after Graham’s passing; a special election will soon determine the next Republican nominee.

Notable Quotes:

• President Trump (03:34): “It's my honor to ask his little sister, Darlene Graham, to finish his work for him.”
• Darlene Graham (03:40): “I promise to work hard over the next several months to support the president and carry forward the efforts of my brother on behalf of the citizens of South Carolina.”
• Jonathan Cerry (Fox News) (03:51): “Darlene Graham will become the first woman to represent South Carolina in the U.S. senate.”

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Closing Markets

• The Dow Jones is down by 54 points at this hour.
  [04:00]

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Memorable Moments

• President Trump’s frank discussion on failed Iran negotiations: “They shot first. And that was a big mistake…” (00:45)
• Rep. DeLauro’s call for judicial transparency: “To restore this trust, we must provide more transparency…” (02:33)
• Sully Sullenberger’s public health advocacy in light of his diagnosis. (03:08)
• Darlene Graham breaking barriers for South Carolina: “I promise to work hard over the next several months…” (03:40)

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This concise recap delivers the critical news and quotes from the 2PM ET Fox News Hourly Update, keeping listeners informed of major national, international, and human interest stories.

Transcript

[Lisa Brady]

A pivot from the president. Lisa Brady, FOX News. He's backing away from a plan to charge a fee as reimbursement for securing a critical waterway.

[Fox News Reporter]

The president says he abandoned a plan to charge a fee on cargo in the Strait of Hormuz after speaking with several Middle Eastern leaders. Instead, President Trump says a 20% fee will be replaced with trade and investment deals with Gulf partners.

[President Donald Trump]

And I like that, actually, because I don't think anybody should be able to charge a fee for the for the strait.

[Fox News Reporter]

Iran says it will control the strait and has targeted commercial vessels.

[Lisa Brady]

Fox's Jared Halpern at the White House. Two hours from now, a U.S. blockade of Iranian shipping will resume. President Trump says he does not regret lifting it.

[President Donald Trump]

I wanted to give them a chance at making a deal. You know, we had a deal two days ago, it was done and then all of a sudden they couldn't do it. They didn't like something about the deal. They couldn't do it. And they shot first. And that was a big mistake that they shot first because we have been knocking the hell out of them in return.

[Lisa Brady]

Iran keeps attacking Gulf neighbors as well as commercial ships. The United Arab Emirates threatening to strike back after attacks on tankers left two Mariners dead and 14 others wounded. President Trump's comments coming during an Oval Office meeting with Iraq's new prime minister, focusing in part on plans to disarm Iran linked militia groups in Iraq before remaining US Troops withdraw now expected to finish by the end of September. The president also highlighting the latest inflation report. Consumer prices falling in June. But new Fed chair Kevin Warsh tells a House hearing the that's one data point.

[Kevin Warsh]

The reason I create a task force on data is I don't want to overread or cherry pick data. There might be some that look at this morning's data and say, oh, mission accomplished, everything is swell. That is not my view.

[Lisa Brady]

Was also says no more hints before Fed decisions on interest rates. A drop in gas prices contributing to last month's inflation decline. But oil and gas have since been back on the rise. America is listening to FOX News.

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[Lisa Brady]

Two Supreme Court justices make a rare appearance on Capitol Hill testifying about the court's security budget. But Democrats on a House panel turning attention to declining trust in institutions.

[Congresswoman Rosa DeLauro]

Congresswoman Rosa DeLauro of Connecticut said threats against the judiciary have increased as trust in the court has decreased.

[Lisa Brady]

To restore this trust, we must provide more transparency through increased financial disclosure requirements and a binding enforceable code of ethics.

[Congresswoman Rosa DeLauro]

Wisconsin Congressman Mark Pocan was concerned with temporary decisions made through the court's shadow docket. They're not really fully briefed. They're not fully argued opinions. They're unsigned, usually emergency orders, Justice Amy Coney Baird explained.

[Lisa Brady]

It's like you just take all comers and you have to grant or deny these motions as they're filed.

[Congresswoman Rosa DeLauro]

Justice Elena Kagan said people with cases are also simply using the shadow docket more often. Jessica Rosenthal, Fox News.

[Lisa Brady]

The airline pilot famous for an emergency landing on the Hudson river off Manhattan is confirming he has early stage Alzheimer's disease. Sully Sullenberger telling People magazine he was diagnosed last August and that he's decided to use his platform to raise awareness. A swearing in ceremony expected later this hour for the sister of the late Senator Lindsey Graham.

[Fox News Reporter]

Darlene Graham was appointed Monday by South Carolina Governor Henry McMaster.

[President Donald Trump]

It's my honor to ask his little sister, Darlene Graham, to finish his work for him.

[Congresswoman Rosa DeLauro]

Now.

[Lisa Brady]

I promise to work hard over the next several months to support the president and carry forward the efforts of my brother on behalf of the citizens of South Carolina.

[Fox News Reporter]

Darlene Graham will become the first woman to represent South Carolina in the U.S. senate. In Central South Carolina, Jonathan Cerry, Fox News.

[Lisa Brady]

Lindsey Graham was running for a fifth term. A special election next month will choose a new Republican nominee. Stocks remain mixed. The dow is down 54 points. Lisa Brady, Fox News.