Fox News Hourly Update: Federal Reserve Leaves Main Interest Rate Unchanged Despite Pressure From President
Release Date: July 30, 2025
Host: Tom Graham, FOX News Podcasts
1. Federal Reserve Maintains Interest Rates Amid Presidential Pressure
The episode opens with Tom Graham announcing a significant decision by the Federal Reserve:
“A divided Federal Reserve announcing its key interest rate will remain unchanged.”
[00:02]
Jared Halpern elaborates on the context:
“Fifth time this year, the Federal Reserve is keeping a key short term interest rate unchanged despite regular calls from President Trump for a rate cut.”
[00:09]
Despite persistent pressure from President Trump, who argues that the current 4% rate hampers Americans' ability to refinance mortgages and purchase new homes, the Fed remains steadfast. An unidentified speaker questions the rationale behind the Fed’s decision:
“Nobody knows.”
[00:17]
Jared Halpern provides insights into Fed Chairman Jerome Powell's stance:
“Fed Chairman Jerome Powell has favored keeping rates unchanged, wanting first to see how inflation is impacted by new tariffs imposed by the president.”
[00:37]
The decision had minimal immediate impact on the stock market:
“Wall street not making any big moves following the Fed announcement. Stocks finishing mix the Dow falling 172s and P dipped 8 while the Nasdaq gained 31.”
[00:48]
2. Senate Democrats Intensify Scrutiny on Jeffrey Epstein Case
Shifting focus to political developments, Tom Graham reports on Senate Democrats' renewed attention to the Jeffrey Epstein case, which continues nearly six years after Epstein's supposed suicide in a New York jail.
Senate Minority Leader Chuck Schumer emphasizes the need for transparency:
“Senator Schumer says the century-old rule of five compels action when any five senators call for votes or ask for information.”
[01:08]
Schumer stresses the importance of public knowledge regarding Epstein's network:
“The public must know who enabled, knew of or participated.”
[01:24]
Michigan Senator Gary Peters criticizes Republicans for their inaction:
“Democrats want a response from the DOJ by August 15th.”
[01:48]
3. Kamala Harris Announces Candidacy Status for California Governor
In a significant political update, Kamala Harris declares:
“Kamala Harris announcing she will not be running for California's governor, making that announcement this afternoon on X America’s Listening to FOX News.”
[01:48]
4. New York City Mayoral Candidate Zoran Mamdani Clarifies Stance on Police Funding
Zoran Mamdani, a Democratic mayoral candidate in New York City, addresses his position regarding police funding amidst recent controversy:
“New York City Democratic mayoral candidate Zoran Mamdani says his campaign is not about defunding the police, despite his past social media posts.”
[02:16]
During a press conference following a tragic mass shooting in Midtown Manhattan, Mamdani asserts:
“That we've put forward in this campaign, despite what others may say, is not to defund the police. It is in fact to allow those officers to respond to these serious crimes that many of them signed up to address.”
[02:25]
He further discusses his meeting with the family of Officer Diderol Islam, who was killed in the shooting:
“Zorman Mamdani went on the attack in this press conference saying that it was his opponents that were making this political... He... has been invited to attend the funeral tomorrow and that he will be attending.”
[02:40]
5. Violent Attack in Danville, Virginia
Brian Yanes reports on a disturbing incident in Danville, Virginia:
“Witnesses say it happened at Showcase magazine in Danville, Virginia, near the North Carolina border.”
[03:27]
The attack involved a suspect, Shotzi Michael Bug Hayes, who assaulted staffer and city councilman Lee Vogler:
“An individual forced his way into our office carrying a five-gallon bucket of gasoline and poured the gasoline on Lee.”
[03:43]
Despite efforts to escape, Vogler was caught and set on fire by the assailant. Brian Yanes adds:
“Police say they busted that suspect near the incident. He's been identified as Shotzi Michael Bug Hayes. The cops say the attack was the result of a personal matter.”
[03:52]
Vogler is currently receiving treatment at a burn center.
6. Additional News Segments
The episode also briefly mentions upcoming segments and promotions, including Bret Baier’s new podcast highlighting bipartisan discussions and reminders to listeners about accessing content through FOX News platforms. These sections are designed to engage the audience further but are not the primary focus of the news update.
Conclusion
This episode of Fox News Hourly Update provides comprehensive coverage of significant economic decisions by the Federal Reserve, ongoing political investigations, key announcements from prominent political figures, and alarming incidents of violence affecting local communities. Through detailed reporting and direct quotes, listeners are kept informed on matters that shape the current socio-political landscape.