Russiagate Reckoning & Trump v. Powell | 7.25.25

Summary

Morning Wire Podcast Summary
Episode: Russiagate Reckoning & Trump v. Powell | 07.25.25
Release Date: July 25, 2025
Host: John Bickley & Co-Host: Georgia Howe
Presented by: The Daily Wire

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1. President Trump's Escalating Pressure on the Federal Reserve

The episode opens with a dramatic update on President Donald Trump's intensified campaign against the Federal Reserve Chair, Jerome Powell. President Trump made a rare and personal visit to the Federal Reserve building on July 24th, marking the first presidential visit since 2006. This move is part of Trump's broader strategy to exert pressure on Powell, whom he accuses of mismanaging the economy.

John Bickley [00:04]: "President Trump makes another dramatic move, personally inspecting the Federal Reserve as he ramps up pressure on Jerome Powell."

During the visit, Trump confronted Powell over the Federal Reserve's ongoing $2.7 billion renovation project, which has recently surged to $3.1 billion due to significant cost overruns.

Jerome Powell [03:40]: "It looks like it's about 3.1 billion. Up a little bit or a lot? So the 2.7 is now 3.1."

Trump criticized Powell for what he perceives as fiscal mismanagement and hinted at potential fraud, positioning the overrun as evidence of Powell's incompetence.

Cabot Phillips [02:32]: "President Trump thinks that is far too high, accusing Powell of mismanaging taxpayer dollars to build a, quote, palace for himself and hinting that he may have committed fraud, which obviously would be a fireable offense."

This confrontation highlights the tense relationship between the Trump administration and the Federal Reserve, with implications for monetary policy and economic stability.

2. Landmark Trade Deals and Their Impact on Global Markets

In parallel to the Federal Reserve tensions, the podcast delves into significant trade negotiations spearheaded by the Trump administration. Several groundbreaking agreements have been reached, leading to positive reactions in global financial markets.

a. United States-Japan Trade Deal

After eight rounds of negotiations, the U.S. and Japan finalized a deal reducing tariffs on Japanese imports from 25% to 15%. In return, Japan has committed to substantial investments in the U.S. economy, including:

• Purchase of 100 Boeing aircraft
• Billions in American rice exports
• Investments in American defense contractors

Jerome Powell [05:18]: "The Japanese government says I will finance and I will pay for. You want to build a nuclear facility? Build it."

This deal is touted as potentially the largest trade agreement in history, signaling a robust economic partnership between the two nations.

b. Agreements with the Philippines and Indonesia

Additional agreements include:

• Philippines: Details not specified in the transcript.
• Indonesia: Elimination of tariffs on 99% of American goods and removal of pre-shipment inspections on American agricultural products. In exchange, the U.S. will lower tariffs on Indonesian imports from 32% to 19%.

c. Potential U.S.-EU Trade Deal

Negotiations are nearing completion for a trade deal with the European Union, which would impose tariffs ranging from 15% on various European imports. These deals have collectively boosted investor confidence, with global stock indices reaching new heights.

John Bickley [06:34]: "Global markets looking very healthy there."

The positive economic indicators include record highs for the S&P 500 and significant rallies in Asian and European markets, particularly in Japan.

3. Russiagate Revelations and Allegations Against Former President Obama

A substantial portion of the episode examines explosive claims surrounding the Russiagate investigation, alleging that former President Barack Obama and his national security team fabricated the intelligence community assessment linking President Trump to Russian interference.

a. Director Tulsi Gabbard's Allegations

Director of National Intelligence Tulsi Gabbard has presented what she describes as irrefutable evidence demonstrating that the Obama administration orchestrated a false narrative against Trump.

Georgia Howe [00:34]: "There is irrefutable evidence that detail how President Obama and his national security team directed the creation of an intelligence community assessment that they knew was false."

b. Specific Claims and Evidence

Key points from the allegations include:

• Manipulation of Intelligence: Obama directed the creation of intelligence reports post-2016 elections, despite knowing their inaccuracies.
• Collusion with Media: Coordination with media partners to promote the Russiagate narrative and undermine Trump's legitimacy.
• Potential Treasonous Actions: Claims suggest a "years-long coup" against Trump, aiming to destabilize his administration.

Georgia Howe [07:57]: "I am not an attorney, but as I've said previously, when you look at the intent behind creating a fake manufactured intelligence document... can only be described as a years long coup and a treasonous conspiracy against the American people."

c. Legal and Political Implications

While some legal experts, like National Review's Andrew McCarthy, express skepticism regarding the criminality of these actions, viewing them more as "political smears and appalling misjudgments," others on the political right believe there is substantial merit to the allegations. The Justice Department has initiated a task force to investigate these claims further.

Cabot Phillips [10:07]: "Treason is obviously a serious charge... but this is, of course, being looked at now by Attorney General Pam Bondi."

4. Columbia and Harvard: Settlements and Ongoing Legal Battles Over Antisemitism

The podcast addresses significant developments in the Trump administration's campaign against elite Ivy League institutions, focusing on issues of antisemitism and academic misconduct.

a. Columbia University's $200 Million Settlement

Columbia University has agreed to pay over $200 million to the federal government to resolve allegations of systemic discrimination against Jewish students and failure to curb antisemitism on campus. An additional $21 million will be paid to the Equal Employment Opportunity Commission.

Maraid Elordi [12:11]: "Columbia will also pay an additional $21 million to the government to settle investigations by the Equal Employment Opportunity Commission."

Education Secretary Linda McMahon praised the settlement as a "monumental victory for conservatives" aiming to reform elite educational institutions.

Jerome Powell [12:42]: "I think that this is a monumental victory for conservatives who've wanted to do things in these elite campuses for a long time."

b. Harvard University's Legal Struggle

In contrast, Harvard University is engaged in a heated lawsuit against the Trump administration over similar accusations. The administration had previously frozen $2 billion in federal funding for Harvard, citing rampant antisemitism on campus. Harvard contends that these actions violate its First Amendment rights and the Civil Rights Act.

Maraid Elordi [13:35]: "Harvard was back in court... to fight the Trump administration freezing over $2 billion in federal funding for the school."

Amidst legal battles, Harvard is reportedly considering opening a conservative center and closing multiple diversity centers in an attempt to mitigate pressures from the administration.

Maraid Elordi [14:07]: "Harvard is reportedly considering opening a new conservative center amid the pressure from Trump... closing multiple diversity centers... looking to end this fight."

The Trump administration has also launched a new investigation into Harvard's compliance with federal visa programs and has threatened to revoke the university's accreditation, which would have severe ramifications.

Maraid Elordi [15:20]: "The administration also threatened Harvard's accreditation this month. Losing accreditation would mean Harvard loses access to federal student aid."

5. Conclusion

The episode of Morning Wire provides a comprehensive overview of the tumultuous political landscape as of July 25, 2025. From President Trump's aggressive stance against the Federal Reserve and significant trade victories to explosive revelations questioning the integrity of past administrations, the podcast offers a critical perspective on current events. Additionally, the ongoing disputes with Ivy League institutions underscore the administration's broader agenda to reshape educational and political norms.

Listeners are encouraged to stay informed with Morning Wire for in-depth coverage of politics, culture, education, and more.

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This summary captures the key discussions and insights shared by John Bickley, Georgia Howe, Cabot Phillips, and guest reporters, providing a clear and engaging overview of the episode for those who haven't listened.

Transcript

[John Bickley]

President Trump makes another dramatic move, personally inspecting the Federal Reserve as he ramps up pressure on Jerome Powell.

[Jerome Powell]

He's building a building. It's $2.7 billion. They have a $900 million overrun. What is that?

[Georgia Howe]

The move comes as Trump touts more blockbuster trade deals.

[John Bickley]

I'm Daily Wire Executive Editor John Bickley with Georgia Howe. It's Friday, July 25th, and this is Morning Wire.

[Georgia Howe]

New bombshell Russiagate revelations spark a flurry of actions in the White House and on Capitol Hill. We have the latest on the political fallout. There is irrefutable evidence that detail how President Obama and his national security team directed the creation of an intelligence community assessment that they knew was false.

[John Bickley]

And amid his ongoing battle with the Ivy League, Trump secures a historic settlement from Colombia.

[Cabot Phillips]

You pay $200 million because you know you got caught red handed systematically discriminating against Jewish students.

[Georgia Howe]

Thanks for waking up with MORNING wire. Stay tuned. We have the news you need to know.

[Linda McMahon]

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[Georgia Howe]

In a major escalation in his pressure campaign on the Federal Reserve, President Trump personally toured the Fed building on Thursday while his administration touts big economic wins.

[John Bickley]

Joining us now to discuss Trump's battle with Jerome Powell and big trade deal announcements is Daily Wire senior editor Cabot Philip say Cabot. So a pretty dramatic move yesterday from Trump. Let's start there.

[Cabot Phillips]

What happened there?

[Tim Pierce]

Well, first, John, I very much like your shirt. Thank you very Cool shirt. Anyways, so as we talked about on the show, the president has been furious with Jerome Powell for months now, accusing him of intentionally keeping interest rates high to try and damage the economy and damage Trump's political standing. Right, but the problem for Trump is that he can only fire Powell with cause, and policy disputes do not count. So he's been looking into the renovation of the Federal Reserve headquarters, which Powell is overseeing. After a number of well documented cost overruns, that price tag on the project is over $2.5 billion. President Trump thinks that is far too high, accusing Powell of mismanaging taxpayer dollars to build a, quote, palace for himself and hinting that he may have committed fraud, which obviously would be a fireable offense. And now, as you mentioned, the President took the extraordinary step of visiting the Fed headquarters himself yesterday. It is the first time a president has the building since 2006. But unlike that visit, which George W. Bush took as part of the swearing in ceremony for Ben Bernanke, this one is all about putting pressure on Powell. For example, here's Trump directly telling the Fed chair that he wants interest rates lowered.

[Cabot Phillips]

Are there things the chairman can say.

[Jerome Powell]

To you today that would make you.

[John Bickley]

Back off some of the earlier criticism?

[Jerome Powell]

Well, I'd love him to lower interest rates. Other than that, what can I tell you?

[Tim Pierce]

And later on, when Powell disputed the cost of this renovation, President Trump displayed a piece of paper with what he said was the price tag.

[Jerome Powell]

It looks like it's about 3.1 billion. 1. Up a little bit or a lot? So the 2.7 is now 3.1.

[John Bickley]

I'm not aware of that.

[Jerome Powell]

Yeah, it just came out. Yeah.

[Tim Pierce]

And I haven't heard that from anybody.

[Jerome Powell]

The Fed.

[Tim Pierce]

This came from us.

[Jerome Powell]

Yes.

[John Bickley]

Now to another major economic topic, tariff deals. With this deadline approaching very quickly, we're seeing some urgency from some other countries to work deals. What's the latest?

[Tim Pierce]

So, remember, the White House has made clear that any country who has not agreed to a trade deal by August 1st will be hit with tariffs anywhere from 25 to 50%. And a few countries seem to be taking Trump at his word, most notably Japan. After eight rounds of intense negotiations, Trump announced a massive deal that will lower the tariff on Japanese imports from 25 to 15%. In exchange, Tokyo has agreed to open their markets to American cars and trucks. And perhaps even more importantly, Japan agreed to a $550 billion investment in the US economy. That'll include the purchase of 100 Boeing aircraft, billions of dollars in American rice, and billions more in deals with American defense contractors.

[Jerome Powell]

I just signed the largest trade deal in history, I think maybe the largest deal in history with Japan. A lot different from the deals in the past. I can tell you that.

[Tim Pierce]

Commerce Secretary Howard Lutnick talked about just how unique this deal is and how Japan will actually be helping finance American growth.

[Jerome Powell]

The Japanese government says I will finance and I will pay for.

[John Bickley]

Right?

[Jerome Powell]

Not finance, I will pay for. You want to build a nuclear facility? Build it. You want to build 10 nuclear facilities, you go build them. You want to go build a pipeline, you go build it.

[Tim Pierce]

And we'll split the lease payments.

[Jerome Powell]

90 for you, 10 for Japan. It's a blockbuster if there ever was one.

[John Bickley]

All right, so a major agreement with one of our biggest trading partners with some unique elements to it too. What other deals have we seen?

[Tim Pierce]

Right. So we mentioned earlier the deal between the US and the Philippines and now there is also an agreement between the US And Indonesia. As part of that deal, Indonesia has agreed to eliminate all tariffs on roughly 99% of American goods and end pre shipment inspections on American farm goods. Also other non tariff barriers. In exchange, the US will lower its tariff on Indonesian imports from 32 to 19%. And then, according to numerous reports, President Trump is closing in on a final deal with the EU that will impose 15% tariffs on a variety of European imports. All of that movement was more welcome news to investors as global stocks rallied throughout the week. The S&P 500 hit yet another record high. The Dow surged on Tuesday and Wednesday to near record highs. Markets across Asia and Europe, especially Japan, jumped as well.

[John Bickley]

All right, so global markets looking very healthy there. Kevin, thanks so much for reporting.

[Tim Pierce]

Absolutely.

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[Georgia Howe]

In that election. In November of 2016, they worked with their partners in the media to promote this lie, ultimately to undermine the legitimacy of President Trump and launching what would be a years long coup against him and his administration.

[John Bickley]

That was Director of National Intelligence Tulsi Gabbard releasing more bombshell evidence that Obama and his intel chiefs crafted the Trump Russia collusion narrative.

[Georgia Howe]

Daily Wire reporter Tim Pierce is here to talk about what's in Gabbard's latest tranche of evidence. So Tim, a lot of accusations being leveled here. First we have a coup from an outgoing president and then from a declassified House intelligence report, we've learned that Russia may have actually helped Clinton. So what's going on here?

[Cabot Phillips]

Yeah, it's not so much about what Russia did, but what it didn't do. According to this declassified report, Russia had obtained hacked DNC emails that incriminated Clinton, showing potential criminal bribes. Under Clinton's leadership, State Department officials took secret meetings with US Religious groups and offered taxpayer funds in exchange for support for the Clinton campaign. Gabbard said there was also a patronage network inside the US State Department to bribe employees into supporting Clinton. And then there are emails that suggest Clinton was not. Well, here's Gabbard.

[Georgia Howe]

There were high level DNC emails that detailed evidence of Hillary's, quote, psycho emotional problems, uncontrolled fits of anger, aggression and cheerfulness, and that then Secretary Clinton was allegedly on a daily regimen of heavy tranquilizers.

[Cabot Phillips]

So the claim here is that Moscow had all this dirt on Clinton but never released it. Gabbard said that Russia likely planned to use it against Clinton if she had won.

[Georgia Howe]

Now, as more of this information comes out, President Obama has been characterized as something of a ringleader here. What's the evidence for that?

[Cabot Phillips]

There's quite a bit, actually. I spoke to Jerry Dunleavy, the chief investigative correspondent at Just the News, about this. Here's what he said.

[John Bickley]

Obama was deeply involved in the Russiagate scandal. He was aware of Clinton plan intelligence showing Hillary was trying to link Trump to the Russian hacking of the dnc. He personally directed the creation of the intelligence community assessment in December 2016, only after Trump had emerged victorious and he was involved in an Oval Office meeting in early January 2017, where he was made aware of some of the Crossfire Hurricane investigations efforts, including targeting Mike Flynn.

[Cabot Phillips]

So Obama had his fingerprints on this for months before that January 2017 Intelligence Community Assessment made the fake Trump Russia collusion narrative official.

[Georgia Howe]

Now, President Trump hasn't been shy about leveling accusations. Is there a crime here?

[Cabot Phillips]

The Justice Department has assembled a task force to figure that out. Now, Gabbard has essentially accused Obama of treason. Here's that.

[Georgia Howe]

I am not an attorney, but as I've said previously, when you look at the intent behind creating a fake manufactured intelligence document that directly contradicts multiple assessments that were created by the intelligence community. The expressed intent and what followed afterward can only be described as a years long coup and a treasonous conspiracy against the American people, our republic, and an attempt to undermine President Trump's administration.

[Cabot Phillips]

Treason is obviously a serious charge, but I should note that to some it also seems more for effect than substance. National Review's Andrew McCarthy, we've had him on the show before for his legal analysis, is skeptical about real criminality here, even if it is sorted and dirty and corrupt. He writes in his latest column on the scandal, quote, political smears and appalling misjudgments are not violations of the criminal law absent some statutory federal offenses. If there were a criminal fence that fit, Gabbard and Trump would cite it rather than chanting treason. Now, that is just one cautious legal analysis of the case. There's also many on the right who think that there is real substance to these allegations. And this is, of course, being looked at now by Attorney General Pam Bondi. So we'll see what she comes up with.

[Georgia Howe]

Well, there was a recent poll that showed about 60% of Democrats still believe Trump was a Russian asset. Tim, thanks for reporting.

[Cabot Phillips]

Good to be on.

[Georgia Howe]

Columbia University agreed to pay a $200 million settlement to the government over accusations that it failed to stop antisemitism on campus.

[John Bickley]

The Trump administration is still trying to reach a deal with Harvard, but in the meantime, the two sides faced off in court this week. Daily Wire reporter Mouret Elordi is here with Moor. Hey, Maraid. So first, can you tell us about this Columbia settlement?

[Maraid Elordi]

Hi, John. Yes. So Columbia University announced Wednesday that it has agreed to pay this massive settlement to the government more than $200 million to restore the federal funding the Trump administration froze over the anti Semitism allegations against the Ivy League school. Columbia will also pay an additional $21 million to the government to settle investigations by the Equal Employment Opportunity Commission. The Trump administration called the settlement a seismic shift in its fight with left leaning Ivy League schools. Here's education secretary Linda McMahon on Columbia's settlement.

[Jerome Powell]

The fines were stiff. $200 million is a, is a stiff fine. But clearly we're going to see action at Columbia. And I'm really pleased that we were able to come to this agreement because I think the students there that are on campus now can feel safe. Students and faculty know that they're going to be evaluated on merit. Hiring programs, you know, are being changed. This, this agreement also encompasses not only Title 6, but, you know, Title IX and other incidents to make sure that there's fairness across campus for, for all students. And I think that this is a monumental victory for conservatives who've wanted to do things in these elite campuses for a long time.

[John Bickley]

Now. Meanwhile, Harvard and Trump are locked in a hostile lawsuit over the same accusation that Harvard allowed rampant anti Semitism on campus. Correct?

[Maraid Elordi]

That's right. Harvard was back in court in Boston on Monday to fight the Trump administration freezing over $2 billion in federal funding for the school. Back in May, Trump said he didn't want to hurt Harvard, but that Columbia was behaving much better.

[Jerome Powell]

You know, Columbia has been really, they were very, very bad, what they've done, very anti Semitic and lots of other things, but they're working with us on finding a solution and you know, they're taking off that hot seat. But Harvard wants to fight. They want to show how smart they are and they're getting their kicked.

[Maraid Elordi]

Harvard argues TRUMP Freezing the 2 billion in funds is a blatant and unrepentant violation of the school's First Amendment rights as well as the Civ Rights Act. While the Trump administration argues Harvard failed to protect students by allowing anti Semitism on campus after the Oct. 7 Hamas attacks on Israel. On Monday, Harvard students and professors rallied outside the courthouse to oppose the Trump administration. Here's some of that rally.

[Cabot Phillips]

The consequences of the recent attacks on.

[John Bickley]

Harvard extend well beyond our campus now. Things have really escalated, clearly. But the Trump administration is still open to reaching an agreement with Harvard, correct?

[Maraid Elordi]

Yes. McMahon said that even with the lawsuit, talks are going on behind the scenes and she hopes they can reach a resolution outside of court. And meanwhile, there are some signs Harvard is bending the knee to Trump despite the schools kicking and screaming. Harvard is reportedly considering opening a new conservative center amid the pressure from Trump. And Harvard is also closing multiple diversity centers, including the Women's center, the Race Relations center and the LGBTQ center, all signs the school may be looking to end this fight. Before it gets any worse.

[John Bickley]

So some movement toward the middle from Harvard. And the Trump administration has taken other aggressive actions against Harvard as well, correct?

[Maraid Elordi]

That's right. This week, the Trump administration opened a new investigation into Harvard's compliance with a government visa program for foreign students and professors. The administration also threatened Harvard's accreditation this month. Losing accreditation would mean Harvard loses access to federal student aid, which typically leads to a university shutting down.

[John Bickley]

Some scary prospects for Harvard will be tracking this fight to see if Harvard finally backs down. Marie, thanks for reporting.

[Maraid Elordi]

Thanks, John.

[Georgia Howe]

Thanks for waking up with us. And if you're watching on YouTube, please like and subscribe. We'll be back later this evening with more news you need to know.

[Tim Pierce]

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