2PM ET 07/16/2025 Newscast

Summary

Fox News Hourly Update: 2PM ET, July 16, 2025

Release Date: July 16, 2025

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1. President Trump Labels Epstein Investigation a Hoax

Speaker: Lisa Brady, FOX News
Timestamp: [00:02 - 00:35]

Fox News begins the update with President Donald Trump dismissing the closure of the Jeffrey Epstein sex trafficking investigation as a fabricated scheme. When questioned by Republican lawmakers and conservative influencers seeking more transparency, Trump outright rejects the legitimacy of the investigation.

• Jared Halpern reports that Republican officials are demanding additional information regarding the Epstein case closure.
• President Trump asserts, “It's all been a big hoax. It's perpetrated by the Democrats and some stupid Republicans and foolish Republicans fall into this net. And so they try and do the Democrats’ work.” [00:24]

Trump further criticizes the Justice Department's decision to withhold further documents or a client list, labeling the ongoing criticism as mere distractions from his administration's achievements.

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2. Vice President J.D. Vance Advocates for Trump’s Economic Policies

Speaker: J.D. Vance
Timestamp: [00:48 - 01:09]

In a Pennsylvania speech, Vice President J.D. Vance staunchly defends President Trump's economic agenda, highlighting recent tax cuts and tariffs aimed at protecting American jobs.

• J.D. Vance emphasizes, “You're working in the United States of America. We just gave you a big fat tax break. But if you're going to ship American jobs overseas, thanks to Donald Trump, you're going to pay a big fat tariff. It's time to invest in our own country and our own people once again. And we're doing it.” [00:53]

Vance counters Democratic criticisms of the tax and spending initiatives by portraying them as beneficial measures that bolster the American economy and workforce.

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3. President Trump Urges Federal Reserve to Lower Interest Rates

Speaker: Donald Trump
Timestamp: [01:09 - 01:18]

Continuing the economic discourse, President Trump addresses the Federal Reserve's interest rate policies, advocating for reductions to alleviate financial burdens on Americans.

• Donald Trump states, “It's costing us a lot of money and we fight through it. It's almost the country has become so successful that it doesn't have a big impact, but it does hurt. Wanting to get a mortgage.” [01:18]

Despite advocating for lower rates, Trump denies reports of intentions to remove Federal Reserve Chair Jerome Powell. He criticizes the Fed's cautious approach amid his administration's implementation of tariffs and points out cost overruns in the Fed's headquarters renovation.

• Trump dismisses the notion of firing Powell, labeling such criticisms as unfounded attempts to derail his policies.

Democratic Senator Elizabeth Warren accuses Republicans of using the Fed’s renovation expenses as a pretext to undermine Powell's leadership. In response, Powell has reportedly requested a review of the project by the Fed’s inspector general.

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4. Federal Charges in Louisiana Visa Fraud Scheme

Speaker: Gernall Scott, FOX News
Timestamp: [02:31 - 03:20]

A significant legal development unfolds in Louisiana, where five individuals, including current and former police officers, have been charged with visa fraud related to immigration.

• Gernall Scott outlines the case: "A federal probe revealed the defendants allegedly ran a scheme where police reports were faked and sold to keep illegal immigrants in the country.” [02:38]

The accused are accused of conspiring to secure U visas for undocumented immigrants by fabricating crime victim or witness statuses. The investigation spans from late 2015 until the recent arrests, encompassing 62 counts including bribery and money laundering.

• Louisiana U.S. Attorney Alexander Van Hook noted, “These visas are normally authorized by Congress.” [03:01]

The defendants are charged with exploiting the U visa program to benefit illegal immigrants, undermining the integrity of immigration laws.

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5. Investigation Into Senator Adam Schiff’s Mortgage Applications

Speaker: Jared Halpern, FOX News
Timestamp: [03:20 - 04:10]

Federal investigators have initiated a probe into allegations that Senator Adam Schiff, a prominent Democrat and former impeachment manager against Trump, engaged in mortgage fraud.

• Jared Halpern reports, “Fannie Mae, the US Government owned enterprise that buys up mortgages, has now officially asked an inspector general to look at as many as five mortgages taken out by California Senator Adam Schiff.” [03:28]

The focus is on mortgage applications for properties in California and Maryland, where Schiff claims residency in Maryland while serving in Congress. This is significant as the U.S. Constitution mandates that members of Congress reside in the states they represent.

• Senator Schiff defends himself, stating, “These allegations are a baseless attempt at political retribution.” [04:10]

Fox News correspondent Evan Brown adds that this investigation aims to scrutinize Schiff's residency claims and the legitimacy of his mortgage applications.

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6. Stock Market Update

Speaker: Lisa Brady, FOX News
Timestamp: [04:10 - 04:29]

The financial markets show positive movements with major indices advancing.

• Lisa Brady reports, “Stocks are higher right now. The Dow's up 137 points. The S and P also in the green. The Nasdaq in record territory.” [04:10]

This uptick in the stock market indicates investor confidence amid ongoing political and economic developments.

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Conclusion

The July 16, 2025, edition of the Fox News Hourly Update covered a range of significant topics, including President Trump's dismissal of the Epstein investigation, Vice President Vance's defense of Trump's economic policies, scrutiny of the Federal Reserve's interest rate strategies, major legal charges in a Louisiana visa fraud case, and an investigation into Senator Adam Schiff's mortgage dealings. Additionally, the stock market showed notable gains, reflecting a dynamic economic landscape. This comprehensive update provides listeners with detailed insights into the current political and economic climate.

Transcript

[Lisa Brady]

President Trump says they're falling for a hoax. Lisa Brady, FOX News. As some Republicans question the attorney general's decision to close the Jeffrey Epstein case, Fox's Jared Halpern at the White House.

[Jared Halpern]

Republican lawmakers and conservative influencers are demanding more information about the Jeffrey Epstein sex trafficking investigation. President Trump says they're being duped.

[Donald Trump]

It's all been a big hoax. It's perpetrated by the Democrats and some stupid Republicans and foolish Republicans fall into this net. And so they try and do the Democrats work.

[Jared Halpern]

The Justice Department has closed the investigation and says no additional documents or a supposed client list would be released. President Trump has dismissed criticism as a distraction from his administration's accomplishments.

[Lisa Brady]

Well, Vice President J.D. vance defending the Trump agenda in a Pennsylvania speech.

[J.D. Vance]

You're working in the United States of America. We just gave you a big fat tax break. But if you're going to ship American jobs overseas, thanks to Donald Trump, you're going to pay a big fat tariff. It's time to invest in our own country and our own people once again. And we're doing it.

[Lisa Brady]

He's touting the tax cut and spending package that Democrats say will hurt millions of Americans. President Trump still pressing the Fed chair for lower interest rates.

[Donald Trump]

It's costing us a lot of money and we fight through it. It's almost the country has become so successful that it doesn't have a big impact, but it does hurt. Wanting to get a mortgage.

[Lisa Brady]

But he denies reports he's planning to fire Jerome Powell. The Fed's taken a wait and see approach to rate cuts as the president implements tariffs. The president's also criticizing cost overruns in the Fed headquarters renovation. Democratic Senator Elizabeth Warren accusing Republicans of using that as a pretext to fire Powell. The Fed chair reportedly asking the Fed's inspector general to review the project. America is listening to FOX News.

[J.D. Vance]

Oh, could I go to the big.

[Trey Gowdy]

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[Lisa Brady]

Five people, including current and former cops, are charged with visa fraud involving immigrants in Louisiana.

[Gernall Scott]

A federal probe revealed the defendants allegedly ran a scheme where police reports were faked and sold to keep illegal immigrants in the country. The police chiefs, two current and one former as well as two other men conspired to get U visas for those illegal immigrants. Louisiana U.S. attorney Alexander Van Hook said those visas are normally authorized by Congress.

[J.D. Vance]

To allow foreign nationals without any official status in the United States to remain in the country under certain circumstances where.

[Jared Halpern]

They'Re victims of a crime or witnesses to crime.

[Gernall Scott]

It's alleged the scheme ran from late 2015 until the arrest. The 62 counts the man face include bribery and money laundering. Gernall Scott, FOX News.

[Lisa Brady]

Federal investigators are now looking into President Trump's claims that one of his top Democrat critics has been committing mortgage fraud.

[Jared Halpern]

Fannie Mae, the US Government owned enterprise that buys up mortgages, has now officially asked an inspector general to look at as many as five mortgages taken out by California Senator Adam Schiff. The Democrat was once one of the lead impeachment managers in the U.S. house during its attempt to remove President Trump from office in 2020. At the heart of the investigation are mortgage applications for Schiff's properties in California and Maryland, where he might have claimed each one was his primary res. Schiff contends his Maryland property is where he resides while Congress is in session. The U.S. constitution requires members of Congress be residents of the states from which they are elected.

[Lisa Brady]

Fox's Evan Brown Schiff calls the allegations a baseless attempt at political retribution. Stocks are higher right now. The Dow's up 137 points. The S and P also in the green. The Nasdaq in record territory. Lisa Brady, this is FOX news.

[Trey Gowdy]

Hey, I'm Trey Gowdy, host of the Trey Gaddy Podcast. I hope you will join me every Tuesday and Thursday as we navigate life together and hopefully find ourselves a little bit better on the other side. Listen and follow [e-mail].