Fox News Hourly Update Episode: 6PM ET 07/24/2025 Newscast Release Date: July 24, 2025 Host/Author: FOX News Podcasts

Federal Reserve and Interest Rates

The newscast opens with a significant focus on President Donald Trump's recent engagement with the Federal Reserve. The President visited the construction site of the Federal Reserve's headquarters, addressing concerns over cost overruns. Contrary to Trump’s claims, Federal Reserve Chair Jerome Powell refuted the allegations.

Jerome Powell stated, “That’s not true” regarding the reported cost overruns at the Federal Reserve headquarters.

President Trump expressed his primary concern over interest rates, emphasizing his desire for a decrease. At [00:19], Trump asserted, “I just want to see one thing happen, very simple. Interest rates have to come down.” Despite his criticisms, Trump clarified at [00:23], “To do that is a big move and I just don't think it's necessary,” indicating no immediate plans to replace Powell before the latter's term concludes in May next year.

Financial Cuts and Legislation

Shifting focus to fiscal policies, President Trump signed a bill rescinding nearly $9 billion in federal funding that had previously been approved by Congress. This cut targets allocations for public broadcasting and foreign aid. The reductions had already received approval from both the Senate and the House earlier in the month, signaling a notable shift in federal budget priorities.

Middle East Ceasefire Negotiations

The update delves into the ongoing conflict in Gaza, highlighting the challenges faced by U.S. negotiators in brokering a ceasefire. Steve Witkoff, a special envoy, reported at [00:50], “The US Team negotiating in Doha is heading home early.” He criticized Hamas for their lack of commitment to peace, stating, “the latest response from Hamas clearly shows a lack of desire to reach a ceasefire in Gaza,” and accused them of not acting in good faith.

Witkoff further elaborated on potential strategies, mentioning that the Trump administration is now considering alternative options to secure the release of hostages and stabilize the region. He emphasized, “Hamas has acted in a selfish way,” referencing the U.S.-backed plan that proposed a 60-day ceasefire coupled with the release of hostages and Palestinian prisoners.

European Politics and Market Update

In international news, French President Emmanuel Macron announced France’s intention to recognize Palestine as a state. Fox News reporter Jared Halpert conveyed Macron’s statement via social media (referred to here as “X”), noting that the formal recognition would be presented at the United Nations General Assembly in September. This decision comes amid growing global concern over humanitarian issues in Gaza, particularly widespread starvation.

Israeli Prime Minister Benjamin Netanyahu condemned Macron’s move, arguing that it “rewards terror and risks creating another Iranian proxy.” This geopolitical tension coincides with a notable dip in the U.S. stock market, where the Dow Jones Industrial Average fell by 360 points, and the Nasdaq increased by 37 points, contributing to a record fluctuation.

Notable Obituaries

The newscast reported the passing of two prominent figures:

1. Terry Jean Bollea, known as Hulk Hogan:

   • [02:33]: Hogan, aged 71, was a legendary wrestler who significantly influenced sports entertainment during the 1980s and 1990s. Known for his iconic mustache, bandana, and signature "rip-away" shirts, Hogan was a cultural phenomenon who extended his legacy into film, television, and public appearances. Notably, he appeared at the Republican National Convention last year in support of President Trump. Hogan passed away at his Florida home due to cardiac arrest. Unknown Commentator remarked at [02:57], “Trump media rule again,” highlighting Hogan’s political affiliations.

2. Chuck Mangione:

   • [03:14]: The jazz legend, renowned for his 1977 hit "Feels So Good," died at his home in Rochester, New York, at the age of 84. Mangione also composed "Give It All You Got" for the 1980 Lake Placid Olympics, which he performed during the closing ceremony. His contributions to music, particularly jazz, left a lasting impact on the industry.

State Politics

In Wisconsin, Governor Tony Ever declared that he will not seek re-election next year, as reported at [03:14]. Governor Ever’s tenure has been marked by a contentious relationship with the state Legislature, controlled by Republicans since 2011. His decision opens the field for new candidates in what will be the first open gubernatorial race in Wisconsin in 16 years.

Business News: McDonald's Expands Beverage Offerings

In business news, McDonald's is set to introduce a range of new cold beverages targeted at younger consumers, particularly those in their teens and twenties. Charlie Newberger, head of beverages and desserts at McDonald's, revealed at [03:54] that the company is responding to trends driven by Generation Z. The new offerings, dubbed "dirty sodas," are infused with dried fruit-flavored syrups. Upcoming options include:

• Strawberry Watermelon Refresher
• Sprite
• Lunar Splash
• Popping Tropic Refresher
• Creamy Vanilla Cold Brews

These innovative beverages aim to cater to evolving consumer preferences and enhance McDonald's appeal among a younger demographic.

Cultural and Entertainment Highlights

The newscast also briefly mentioned the passing of Chuck Mangione, a celebrated jazz musician, highlighting his contributions to music and his involvement in significant cultural events like the 1980 Lake Placid Olympics.

Audience Engagement: Daily Quiz

Towards the end of the broadcast, the show promoted an interactive quiz segment designed to engage viewers. The segment features five questions to be answered in less than five minutes, with participants from the streets of New York City contributing live responses. The quiz encourages daily participation, fostering a sense of community and interaction among the audience.

Steve Witkoff closed the segment by thanking participants: “Thank you for taking the quiz” at [04:40].

This comprehensive update encapsulates the day's major headlines, offering viewers a detailed overview of political developments, international conflicts, market movements, notable passings, state politics, and business innovations. By integrating direct quotes and precise timestamps, the summary provides an accurate and engaging account of the news broadcast, ensuring that even those who haven't listened can stay informed.