4PM ET 04/03/2026 Newscast

Summary

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Fox News Hourly Update: 4PM ET Newscast – April 3, 2026

Episode Overview

This episode covers developing international tensions following the downing of a U.S. Air Force fighter jet in Iran, domestic political reactions, updates on U.S. economic indicators, and changes affecting consumers and businesses. The tone is urgent and informative, reflecting the gravity of unfolding events.

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Key Discussion Points and Insights

1. U.S. Pilot Missing and Military Tensions in Iran

• Search and Rescue Mission: One U.S. pilot remains missing after their F-15E was downed in southwest Iran. The U.S. military has not publicly confirmed whether the jet was shot down.
  • “A search and rescue mission ongoing after another US pilot was rescued. Their fighter jet, an F15E downed in southwest Iran.” (A, 00:03)
• Israel’s Response: Israel is pausing airstrikes in Iran to assist with the search, sharing intelligence with U.S. forces.
• Local Media Reaction: An Iranian state media anchor reportedly incited locals to turn over captured American personnel for a reward.
  • “A local news anchor in Iran with the state controlled media out there essentially put out a bounty for the missing US Personnel…” (B, 00:28)
• Enemy Fire Reported: Fox's Jennifer Griffin confirms enemy fire during the rescue operation and asserts the jet was indeed shot down.
  • “A source confirming that there has been enemy fire during the search and rescue mission. And there is reporting the jet was shot down late Thursday night…” (A quoting Jennifer Griffin, 00:43)
• White House Update: President Trump, briefed on the incident, remains at the White House.

2. U.S. Defense Budget and Pentagon Funding

• Proposed Budget Increase: President Trump proposes a record $1.5 trillion Pentagon budget—a 44% increase.
  • “President Trump wants a bigger budget for the Pentagon, proposing a record one and a half trillion dollars, a 44% increase.” (A, 00:43)
• Budget Priorities:
  • Includes a pay raise for troops
  • Resupply of munitions
  • Investment in a "Golden Dome" missile defense shield
  • A 10% cut to non-defense spending

3. U.S. Labor Market and Economic Indicators

• Strong Employment Report: March jobs report shows 178,000 jobs created, surpassing expectations.
  • “The March jobs report blew out expectations with strong construction job growth and a surge in manufacturing job creation.” (C, 01:29)
• Wage Growth: Wage increases are outpacing inflation, signaling robust recovery.
• Operation Epic Fury: Short-term disruptions from this operation noted, but recovery expected to accelerate.
  • “The science Americans can rest assured an economic resurgence is set to accelerate after short term disruptions of Operation Epic Fury.” (C, 01:40)
• Market Reaction: No reaction from Wall Street due to Good Friday market closure.

4. Georgia Voting Machine Controversy

• Legislative Deadlock: Georgia lawmakers end their session without an agreement on replacing Dominion voting machines, despite a looming deadline.
  • “…going on reaching an agreement on how to replace Dominion voting machines despite a July deadline. Members from both sides of the aisle are now calling for a special legislative session…” (F, 02:36)
• Potential Outcomes:
  • Hand-marked and hand-counted ballots may be used in November elections.
  • Unresolved issues could allow courts to decide the fate of Georgia’s elections.

5. Federal Reserve and Justice Department Developments

• Subpoena Dispute: A judge rejects a government attempt to reconsider quashing subpoenas related to Fed Chair Jerome Powell, citing political motivation.
  • “A federal judge is rejecting the government's motion to reconsider his decision to quash two subpoenas related to Fed Chair Jerome Powell.” (A, 03:14)
• DOJ Investigation: The Department of Justice is expected to escalate a probe into cost overruns on the Fed’s headquarters renovation.

6. Rising Fuel Costs Impacting Deliveries and Consumers

• Amazon Implements Surcharge: A 3.5% fuel surcharge will be applied to third-party sellers using Amazon’s logistics, effective April 17.
  • “Amazon is applying a 3.5% fuel surcharge on third party sellers later this month.” (G, 03:41)
• Industry-Wide Increases: UPS, FedEx, and USPS have also raised surcharges in response to rising oil prices.
• Gas Prices: The national average for regular unleaded surpasses $4/gallon, up more than a dollar since the start of Operation Epic Fury.
  • “AAA's average for regular unleaded topping $4 a gallon right now, up more than a dollar since Operation EPIC Fury began.” (A, 04:13)

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Notable Quotes & Memorable Moments

• Iranian Media’s Bounty:
  “A local news anchor in Iran with the state controlled media out there essentially put out a bounty for the missing US Personnel…” (B, 00:28)
• Budget Increase Details:
  “President Trump wants a bigger budget for the Pentagon, proposing a record one and a half trillion dollars, a 44% increase.” (A, 00:43)
• Labor Market Optimism:
  “The March jobs report blew out expectations with strong construction job growth and a surge in manufacturing job creation.” (C, 01:29)
• Economic Hot Take:
  “The science Americans can rest assured an economic resurgence is set to accelerate after short term disruptions of Operation Epic Fury.” (C, 01:40)
• Fuel Price Impact:
  “AAA's average for regular unleaded topping $4 a gallon right now, up more than a dollar since Operation EPIC Fury began.” (A, 04:13)

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Timeline of Important Segments

• 00:03–01:29: Iran incident—downed US jet, rescue, and international responses
• 01:29–02:00: U.S. economic report and budget proposals
• 02:33–03:14: Georgia’s voting machine debate
• 03:14–03:41: Federal Reserve subpoena and DOJ probe
• 03:41–04:13: Fuel surcharges and national gas prices

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Summary

This Fox News Hourly Update delivers succinct coverage of breaking international military developments, domestic political and economic news, and new consumer cost pressures. The episode is rich with real-time reporting, direct quotes from officials, and data-driven insights, maintaining a serious and urgent tone throughout.

Transcript

[A]

One US Pilot remains missing in Iran. Alisa Brady, Fox News A search and rescue mission ongoing after another US pilot was rescued. Their fighter jet, an F15E downed in southwest Iran. The US military so far not publicly confirming reports it was shot down. Israel pausing its strikes in Iran while the search and rescue continues. Also sharing intelligence with US Forces.

[B]

A local news anchor in Iran with the state controlled media out there essentially put out a bounty for the missing US Personnel, saying that locals should hand them over to local police for an unspecified reward.

[A]

Fox's Mike Tobin in Tel Aviv. Fox's Jennifer Griffin just reporting A source confirming that there has been enemy fire during the search and rescue mission. And there is reporting the jet was shot down late Thursday night, the early hours of Friday morning in Iran while it was still dark. The president has been briefed on this and remains at the White House. President Trump wants a bigger budget for the Pentagon, proposing a record one and a half trillion dollars, a 44% increase. The White House budget office says that would include a pay raise for troops, resupply munitions and invest in a Golden Dome missile defense shield. The administration's annual budget request would cut non defense spending by 10%. A lot more hiring than expected in the new employment report, 178,000 jobs created.

[C]

White House spokesman Kush Desai says the March jobs report blew out expectations with strong construction job growth and a surge in manufacturing job creation. The science Americans can rest assured an economic resurgence is set to accelerate after short term disruptions of Operation Epic Fury.

[A]

Fox's Jared Halpern at the White House also highlighting wage growth outpacing inflation. No Wall street reaction though. With the markets closed for Good Friday, America is listening to Fox News.

[D]

Ryan Reynolds here from IT Mobile. I don't know if you knew this but anyone can get the same Premium Wireless for $15 a month plan. Been enjoying. It's not just for celebrities. So do like I did and have one of your assistant's assistants switch you to Mint Mobile today. I'm told it's super easy to [e-mail]

[E]

Switch upfront payment of $45 for three month plan equivalent to $15 per month required intro rate first three months only, then full price plan options available, taxes and fees extra. See full [e-mail] Lawmakers in Georgia wrapping

[A]

up their session today with some key voting questions unresolved.

[F]

The state's General assembly going on reaching an agreement on how to replace Dominion voting machines despite a July deadline. Members from both sides of the aisle are now calling for a special legislative session as failure to come up with a plan could result in using hand marked and hand counted paper ballots in November. There is even the possibility that the Peach State's future elections, including the November midterms, could be decided by the courts. The legitimacy of Dominion voting machines has been under intense scrutiny since the 2020 presidential election. Laura Cantor, Fox News.

[A]

A federal judge is rejecting the government's motion to reconsider his decision to quash two subpoenas related to Fed Chair Jerome Powell. The judge ruling last month those subpoenas were likely politically motivated, aimed at pressuring the Fed chief over interest rates. The Justice Department launched a criminal probe into cost overruns on the Fed's headquarters renovation. The DOJ is now expected to ask a federal appeals court to interven. Rising gas prices are about to hit some Amazon shoppers.

[G]

Amazon is applying a 3.5% fuel surcharge on third party sellers later this month. The sellers are independent merchants who use Amazon's warehouses and delivery services. The temporary fee goes into effect April 17. United Parcel Service and FedEx have also recently raised fuel surcharges to reflect rising oil prices. The US Postal Service recently announced its first ever fuel surcharge. It's an 8% fee on packages shipped from April 26 to January 17.

[A]

Fox's Jenny Cosola, AAA's average for regular unleaded topping $4 a gallon right now, up more than a dollar since Operation EPIC Fury began. And Lisa Brady, this is FOX news.

[H]

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