Fox News Hourly Update – 8AM ET, July 18, 2025

Hosted by FOX News Podcasts

1. Legislative Developments

a. Rescissions Bill Approved

Time Stamp: [00:02 – 00:35]

President Donald Trump is poised to sign two significant bills into law. Early in the new year, House Republicans, in conjunction with the Senate, approved a rescissions bill aimed at retracting $9 billion in previously allocated federal funding. This move targets what Republicans deem as inefficient spending, specifically addressing:

• Public Broadcasting Cuts: Republicans argue that $1 billion of the rescinded funds currently supports organizations like NPR and PBS, which they claim exhibit liberal bias.

  Dave Anthony remarked at [00:13]:
  “A billion of it takes money away from public broadcasting as Republicans claim. NPR and PBS are liberal biased.”

• Reduction in Foreign Aid: The remaining funds are slated to reduce foreign assistance, a decision met with unanimous opposition from Democrats.

  Hakeem Jeffries responded at [00:35]:
  “Make sure that we're investing in development and diplomacy and democracy all across the world.”

All Democratic members voted against the bill, emphasizing the importance of continued foreign investment and support.

b. Cryptocurrency Regulation Advances

Time Stamp: [00:42 – 01:12]

In a noteworthy bipartisan effort, discussions surrounding cryptocurrency regulation have seen unexpected cooperation across party lines. Several Democrats have joined Republicans in supporting key legislative measures:

• The Genius Act: This bill establishes federal regulations for U.S. dollar-pegged stablecoins and has already secured Senate approval.

  Hakeem Jeffries noted at [00:53]:
  “More than 100 Democrats, including the Democratic leader in the House, Hakeem Jeffries, voted to pass the Genius Act last night.”

• The Clarity Act: Aimed at broader cryptocurrency regulation, this legislation awaits House approval before it can be signed by the President.

  Dave Anthony added at [01:12]:
  “It's already approved by the Senate. Two other crypto bills the House passed have not yet.”

This collaborative approach highlights a growing consensus on the need for structured oversight in the rapidly evolving crypto market.

2. President Trump's Health Update

Time Stamp: [01:20 – 01:42]

Concerns regarding President Trump's health were addressed by White House Press Secretary Caroline Levitt, who provided detailed insights into recent medical evaluations:

• Chronic Venous Insufficiency: The President has been experiencing swelling around his ankles, a condition deemed benign and common.

  Caroline Levitt reported at [01:20]:
  “The swelling around his ankles... revealed chronic venous insufficiency, a benign and common condition.”

• Hand Bruising: Bruising observed on President Trump's hand was attributed to soft tissue irritation caused by frequent handshaking.

  At [01:42], Levitt added:
  “Bruising on President Trump's hand was caused from soft tissue irritation from frequent handshaking.”

These updates aim to reassure the public about the President's health status.

3. Entertainment News

Late Show Cancellation Announcement

Time Stamp: [01:47 – 02:01]

In an unexpected development, Peter Doocy delivered a surprising update regarding the future of a beloved television program:

Peter Doocy announced at [01:47]:
“Next year will be our last season. The network will be ending the Late Show.”

CBS attributes this decision to financial constraints, marking the end of an era for the Late Show. The network cited declining ratings and budgetary considerations as primary factors behind the cancellation.

4. Law Enforcement and Public Safety

Capture of Fugitive Andres Mogoyan

Time Stamp: [02:31 – 03:18]

The FBI successfully apprehended Andres Mogoyan, the final fugitive from a recent escape at an ICE detention facility in New Jersey.

Gernall Scott reported at [02:40]:
“The FBI Newark field office reports that Andres Mogoyan was captured in Los Angeles with the help of the bureau's field office there and the Homeland Security task force.”

Mogoyan, along with three others who escaped on June 12 from Delaney Hall, now faces additional charges related to their escape. A substantial reward of $25,000 was offered for information leading to Mogoyan’s capture.

Additional Fugitive and Search and Rescue Operations

Time Stamp: [03:18 – 04:08]

• Derrick Groves Recapture: Derrick Groves, a convicted murderer who escaped from a New Orleans jail in May along with nine other inmates, has been re-arrested. All his accomplices have been captured prior to his.

  Dave Anthony stated at [03:18]:
  “Now there is another fugitive still on the run, Derrick Groves... he was all recaptured.”

• California Missing Persons Found: A mother and her nine-year-old son were rescued after becoming stranded in a remote Northern California forest. Their journey began with an attempt to locate a Boy Scout camp, which led them off an unpaved road. Handwritten notes indicating their direction helped search teams locate them.

  Tom Graham detailed at [03:34]:
  “A volunteer search and rescue team responded and found an initial note followed by a second and were able to track down and rescue the mother and son.”

These incidents underscore ongoing efforts in law enforcement and rescue operations to ensure public safety.

5. Economic and Market Updates

President Trump's Criticism of Federal Reserve

Time Stamp: [04:08 – 04:28]

President Trump took to Truth Social to voice his frustration with Federal Reserve Chairman Jerome Powell, advocating for significant interest rate reductions.

Dave Anthony reported at [04:08]:
“President Trump's again called the head of the Fed a numbskull in a Truth Social post this morning.”

Trump criticized Powell for policies that, according to him, are making homeownership difficult for Americans. Despite these tensions, the stock market showed resilience:

• Market Performance: Following Trump's comments, stock futures saw a slight uptick. The Nasdaq and the S&P 500 achieved record highs, signaling positive investor confidence.

  Dave Anthony continued at [04:08]:
  “Stock futures are up slightly the day after the Nasdaq and The S&P 500 hit record highs.”

These dynamics reflect the ongoing interplay between political discourse and market reactions.

6. Community and Hope Stories

Janice Dean’s Segment Preview

Time Stamp: [04:28 – 04:38]

Janice Dean introduces her upcoming Sunday segment, focusing on uplifting stories and individuals who positively impact their communities.

Janice Dean stated at [04:28]:
“I'm Janice Dean. Join me every Sunday as I focus on stories of hope and people who are truly rays of sunshine in their community and across the world.”

Conclusion

The July 18, 2025, edition of the Fox News Hourly Update covered a diverse range of topics, from significant legislative actions and presidential health updates to law enforcement successes and economic insights. Notably, bipartisan efforts in cryptocurrency regulation and President Trump's outspoken criticism of the Federal Reserve highlight the dynamic political landscape. Additionally, heartening stories of rescue and community support underscore the network's commitment to comprehensive reporting.

For more detailed coverage and continuous updates, listeners are encouraged to follow FOX News Podcasts.