Trump Pressures Powell & AI Investment Surge | 7.17.25

Summary

Morning Wire Episode Summary: "Trump Pressures Powell & AI Investment Surge | 07.17.25"

Release Date: July 17, 2025

In this episode of Morning Wire, hosts John Bickley and Georgia Howe delve into significant developments in U.S. politics, focusing on President Donald Trump's ongoing conflict with Federal Reserve Chair Jerome Powell, the latest on the Jeffrey Epstein investigation, immigration statistics, congressional priorities, and a substantial $100 billion AI investment initiative in Pennsylvania. Below is a detailed summary capturing all key discussions, insights, and conclusions from the episode.

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1. President Trump's Conflict with Fed Chair Jerome Powell

Overview: President Donald Trump has intensified his criticism of Federal Reserve Chair Jerome Powell, accusing him of mishandling interest rates and negatively impacting the economy.

Key Points:

• Historical Tensions: Powell was appointed by Trump in 2017 and maintained a generally positive relationship until 2019. Since then, Trump has frequently criticized Powell for not cutting interest rates promptly, especially during the pandemic.

• Current Dispute: Trump is vocal about Powell’s reluctance to reduce interest rates despite low inflation and strong employment figures. He argues that this inaction is detrimental to the economy and his reelection prospects.

Notable Quotes:

• John Bickley [00:08]: “He should have cut interest rates a long time ago. Europe has cut him 10 times in a short period of time and we cut him none. He's a terrible Fed chair.”

• John Bickley [03:00]: “No, we're not planning on doing anything. We're very concerned. We should be saving a trillion dollars a year in interest... He just doesn't want. He's a knucklehead.”

Legal and Political Implications:

• Federal Reserve Independence: The Federal Reserve operates independently of the White House, and the President can only remove its Chair for cause, such as fraud, not merely policy disagreements.

• Potential for Dismissal: Trump hinted at firing Powell, presenting a letter to conservative House members. However, most seemed hesitant, and Trump later appeared to reconsider the move unless substantial wrongdoing by Powell is proven.

Conclusion: While Trump continues to express strong dissatisfaction with Powell, the likelihood of an immediate dismissal remains low without concrete evidence of misconduct.

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2. President Trump's Comments on the Jeffrey Epstein Case

Overview: Trump addressed the ongoing Epstein investigation, dismissing it as a "hoax" orchestrated by Democrats to divert attention from his administration's achievements.

Key Points:

• Denial of Revelations: Trump maintains that there is nothing substantive in the Epstein files worth revealing.

• Accusations of a Democratic Scam: He claims the Epstein narrative is a strategic distraction created by Democrats.

Notable Quotes:

• Donald Trump [04:50]: “Their new scam is what we will forever call the Jeffrey Epstein hoax. And my past supporters have bought into this BS hook, line and sinker.”

• John Bickley [05:16]: “Some stupid Republicans and foolish Republicans fall into the net and so they try and do the Democrats work. I call it the Epstein hoax...”

Lawmakers’ Perspectives:

• Steve Scalise: Trusts Trump to resolve the Epstein matter, emphasizing a lack of access to classified information but showing confidence in the President’s judgment.

Conclusion: Trump continues to dismiss the Epstein investigation, framing it as a politically motivated attack rather than addressing specific allegations or evidence.

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3. Immigration Statistics and Border Security

Overview: The episode highlights a significant decrease in illegal border crossings, attributing this success to Trump's policies aimed at securing the southern border.

Key Points:

• Record Low Encounters: The Customs and Border Protection (CBP) reported only 25,000 encounters in June, the lowest monthly total in history, and an all-time low single-day total of 136 encounters on June 28.

• Comparison to Previous Administrations: These figures contrast sharply with the Biden administration's peak of over 12,000 daily encounters.

Notable Quotes:

• Claudia Tenney [09:13]: “The cartels are going to go where the money is... New York City is facing a major crisis which is going to impact not just the state, but all of us...”

Conclusion: Trump touts the border security achievements as fulfillment of his campaign promises, showcasing the reduced number of illegal crossings as evidence of effective policy implementation.

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4. Congressional Priorities and Lawmaker Interviews

Overview: Deputy Managing Editor Tim Pierce shares insights from Capitol Hill, discussing upcoming legislative priorities and interviewing key Republican lawmakers.

Key Points:

• Violent Political Rhetoric: House Majority Leader Steve Scalise expressed concern over aggressive left-wing rhetoric, comparing ICE to Nazis and inciting violence against law enforcement.

  Notable Quotes:

  • Steve Scalise [07:55]: “You're seeing people attacking our law enforcement, including ICE agents... It's got to stop.”

• Jeffrey Epstein Investigation: Scalise trusts Trump to uncover the truth behind the Epstein case despite lacking direct access to classified information.

  Notable Quotes:

  • Steve Scalise [08:46]: “I trust Donald Trump in his judgment, and ultimately, I think he's going to get the right answers.”

• Crime and Drug Trafficking: New York Congresswoman Claudia Tenney raised alarms about drug and criminal activities exploiting New York's lax state laws, particularly in NYC.

  Notable Quotes:

  • Claudia Tenney [09:13]: “New York City is facing a major crisis... trafficking children, trafficking women and all kinds of... it's just, it's really disgraceful.”

• Background Checks for Congress: Florida Congresswoman Kat Kamek introduced a bill to impose background checks for congressional staff, emphasizing the need for transparency regarding any foreign ties.

  Notable Quotes:

  • Kat Kamek [09:54]: “Require background checks for congressional staff and they need to disclose any foreign ties, including dual citizens.”

Conclusion: Republican lawmakers are focusing on combating violent rhetoric, addressing the Epstein scandal, curbing crime and drug trafficking, and increasing transparency within Congress. These priorities reflect a broader agenda to enhance national security and uphold ethical standards in governance.

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5. $100 Billion AI and Energy Investment in Pennsylvania

Overview: President Trump announced a monumental $100 billion investment in artificial intelligence (AI) and energy infrastructure in Pennsylvania, aiming to bolster America's technological leadership and counter China's advancements.

Key Points:

• Investment Details: The initiative includes over $100 billion in AI infrastructure, supported by major corporations like Blackstone, which is committing $25 billion for new data centers and energy projects.

• Strategic Selection of Pennsylvania: The state’s historical significance in America’s industrial revolutions and its existing industrial sites make it ideal for new data centers. Additionally, Pennsylvania's abundant natural gas from the Marcellus Shale formation and ample water resources support the energy and cooling needs of data centers.

• Revitalization Projects:

  • Homer City Power Plant: Rebuilding into the largest natural gas plant in the world.
  • Three Mile Island Nuclear Plant: Being revived exclusively for data centers built by Microsoft.

Notable Quotes:

• Donald Trump [11:25]: “Leading technology and energy companies are announcing more than $92 billion of investments in Pennsylvania... this is a really triumphant day for the people of the Commonwealth and for the United States of America.”

• Donald Trump [12:39]: “So it was a coal plant, and now it will be the largest natural gas plant in the world... it’s going to be great.”

• Donald Trump [14:04]: “We believe that America's destiny is to dominate every industry and be the first in every technology... we are way ahead of China.”

Challenges Highlighted:

• Despite Trump’s assertions of leadership in AI, China is noted to be outpacing the U.S. in energy generation, with China having over twice the electricity generation capacity as the U.S. in 2023 and continuing to expand rapidly.

Conclusion: Trump's $100 billion investment in Pennsylvania underscores a strategic move to reinforce U.S. dominance in AI and energy sectors. While ambitious, the initiative faces challenges from China’s substantial advancements in energy infrastructure, necessitating continued focus and investment to maintain competitive edge.

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Final Thoughts

This episode of Morning Wire provides a comprehensive look at President Trump's current political maneuvers, legislative initiatives, and economic strategies. From his contentious relationship with Jerome Powell and dismissal of the Epstein investigation to significant strides in border security and monumental investments in AI infrastructure, the discussion underscores the administration's focus on strengthening economic sovereignty and national security. Republican lawmakers echo these priorities, emphasizing the importance of combating external threats and ensuring ethical governance. The episode serves as an informative briefing for listeners seeking in-depth coverage of contemporary political dynamics in the United States.

Transcript

[Georgia Howe]

President Trump continues his assault on Fed Chair Jerome Powell.

[John Bickley]

He should have cut interest rates a long time ago. Europe has cut him 10 times in a short period of time and we cut him none. He's a terrible Fed chair.

[Cabot Phillips]

Will the president actually fire the Fed chair?

[Georgia Howe]

I'm Georgia Howe with Daily Wire Executive Editor John Bickley. It's Thursday, July 17th, and this is Morning Wire.

[Cabot Phillips]

With the big beautiful bill signed into law, the House GOP lays out their next set of priorities.

[Donald Trump]

The America first agenda is no longer a slogan. It's now the law of the land because of the big beautiful bill. And we got more to do.

[Georgia Howe]

And Trump unveils a $100 billion energy investment in Pennsylvania that he hopes will spur America's tech dominance over China.

[Cabot Phillips]

Thanks for waking up with Morning Wire.

[Donald Trump]

Stay tuned.

[Cabot Phillips]

We have the news you need to know.

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[Cabot Phillips]

As the Federal Reserve continues to hold interest rates steady, President Trump is once again threatening to fire Federal Reserve Chair Jerome Powell.

[Georgia Howe]

Daily Wire senior editor Cabot Phillips has the details, along with the latest on Epstein and illegal immigration. So Cabot, a lot of stories to track in Washington this week. Let's start with President Trump's feud with Fed Chair Jerome Powell. What's going on there?

[Tim Rice]

Well, the saga goes back a few years, so for context, Jerome Powell was first appointed by President Trump in 2017. The two it got along for the most part at first, but ever since 2019, he has drawn the consistent ire of the president. Trump says he was too slow to cut rates during the pandemic and felt Powell intentionally kept rates high ahead of the 2020 election try and hurt the economy and his reelection odds. And now Trump is furious with him once again now over his hesitation to cut rates despite low inflation and strong labor numbers. For his part, the Fed chair has expressed concerns that Trump's tariffs will spur inflation, and he doesn't want to cut the rates if the economy is about to slow down. But Donald Trump is not buying that rationale.

[Georgia Howe]

Now, what are his threats that he's making?

[Tim Rice]

Well, Trump has long hinted that he could fire him, something we've only seen once in American history. It was FDR who did that. And on Tuesday night, he inched closer to that move, showing conservative House members a letter informing Powell that he'd been fired that he was prepared to send. He then polled those 12 numbers, gathered for their thoughts, and 11 reportedly said that he should do it. But by yesterday morning, Trump seemed to be having second thoughts, saying he was not planning on firing him after all.

[John Bickley]

No, we're not planning on doing anything. We're very concerned. We should be saving a trillion dollars a year in interest. You know, when he talks about cost, we should be saving, Think of it, a trillion dollars a year. Add that with the tariffs and everything else. But he just doesn't want. He's a. He's a knucklehead.

[Tim Rice]

Now, it's important to remember here, because the Federal Reserve is meant to be independent from the White House and Congress, the President is only allowed to remove him with cause. Policy disagreements do not count as cause. But the White House believes they could have cause in the form of a $2.5 billion renovation plan for the Federal Reserve that Powell approved. Trump says Powell has wasted taxpayer money on a, quote, palace for himself and hinted that the project could constitute fraud.

[John Bickley]

I don't rule out anything, but I think it's highly unlikely, unless he has to leave for fraud. I mean, it's possible this fraud involved with the $2.5, $2.7 billion renovation. This is a renovation. How do you spend $2.7 billion and he didn't have proper clearance, etc. Etc. So, you know, that's going on. So, you know, there could be something to that.

[Tim Rice]

So right now, it does seem unlikely that Trump will move to fire Powell. That means he'll have to wait until 2026 when his term expires, at which point Trump will get to pick his replacement.

[Georgia Howe]

Now, pivoting a little bit to some other news out of the White House. President Trump did address the Epstein situation again. What did he say?

[Tim Rice]

Well, he continued to double down on the claim that there is nothing worth revealing in the Epstein files. He also reiterated his belief that the entire story is part of a broader Democratic effort to distract from his administration's success. Writing on Truth Social, he said, quote, their new scam is what we will forever call the Jeffrey Epstein hoax. And my past supporters, emphasis on past, have bought into this BS hook, line and sinker. Here he is with more from the White House.

[John Bickley]

Some stupid Republicans and foolish Republicans fall into the net and so they try and do the Democrats work. I call it the Epstein hoax. Takes a lot of time and effort instead of talking about the great achievements.

[Georgia Howe]

Now, before we go, the president got some good news on the immigration front. Tell us about that.

[Tim Rice]

Right. The CBP released their latest numbers showing that June saw just 25,000 encounters at the southern border. That that is the lowest monthly total in Border Patrol history. The agency also reported its lowest single day total in history. That was June 28, when there were just 136 encounters across the entire border. For context, there were points during the Biden administration where we saw more than 12,000 encounters daily. So President Trump continues to follow through on his campaign promise to lock down the southern border.

[Georgia Howe]

Well, it looks like it could be done. Cabot, thanks for reporting.

[Tim Rice]

Absolutely.

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[Georgia Howe]

Now that President Trump has signed the big beautiful bill, Congress is gearing up for the next legislative battle.

[Cabot Phillips]

Daily Wire deputy Managing editor Tim Rice was on Capitol Hill earlier this week and he talked to lawmakers about everything from Epstein to what comes next legislatively. Hey, Tim, so a busy few days for you. What did you hear from members of Congress? What are their priorities?

[Tim Pierce]

Yeah. Good morning, guys. So on Tuesday, the Republican Study Committee hosted a new media row on the Hill. It was an opportunity for outlets like the Daily Wire to speak to their members one on one. Those members included House Majority Leader Steve Scalise, who spoke to Daily Wire White House correspondent Mary Margaret Olihan about the concerning rise of violent political rhetoric on the left.

[Steve Scalise]

I'm really concerned that you still see a heightened rhetoric, you know, when the left is out there, just even to this day, for agencies like ice, saying ICE is like they're Nazis or comparing them to, you know, violent things like that, and it's encouraging violent behavior. You're seeing people attacking our law enforcement, including ICE agents, and they're spurred on by a lot of the rhetoric from the left. It's got to stop. You know, unfortunately, you've seen some of that rhetoric incite people into violence.

[Tim Pierce]

Our audience will remember that Scalise himself was badly injured at a mass shooting by a left wing activist during practice for the 2017 congressional baseball game. So he's particularly sensitive to this issue. Scalise also talked about the ongoing Jeffrey Epstein saga and said he trusts the president to straighten things out.

[Steve Scalise]

Obviously, there were a lot of questions about the Epstein case. I haven't been privy to those documents, to classified information. Others have. But look, I trust Donald Trump in his judgment, and ultimately, I think he's going to get the right answers.

[Tim Pierce]

I spoke to New York Congresswoman Claudia Tenney, who's been fighting to keep drugs and criminals from pouring through our northern border. She said she's particularly worried about the problem in light of what's happening in New York City.

[Claudia Tenney]

The cartels are going to go where the money is and they're going to go where they're going to find the most lax state laws where they can take advantage. And New York State provides that access to New York City, where they can hide out, where they can do whatever they want in New York City. You know, New York City is facing a major crisis which is going to impact not just the state, but all of us, obviously, the election of a Marxist anti Semite like Zoran Mamdani, these are the kind of people that are helping, aiding and abetting the criminal cartels that are trafficking children, trafficking women and all kinds of. It's just, it's really disgraceful.

[Tim Pierce]

Florida Congresswoman Kat Kamek said her biggest priority going forward was imposing background checks for Congress, something that, shockingly, isn't already required.

[Kat Kamek]

We have seen situations where individuals who have ties to foreign nations, different organizations that have terrorist funding, have made their way into different offices. And these are people that are working on behalf of the American people. So our bill is very simple. Require background checks for congressional staff and they need to disclose any foreign ties, including dual citizens. I think the American people deserve to know who's working on their behalf. It's pretty simple, but you would not believe the resistance that we're getting.

[Tim Pierce]

So those are just a few of the lawmakers we talked to. And we had some great conversations about protecting kids, women's sports, the Middle east, the Texas floods and more. And you can see more of those interviews on the Daily Wire. But I'll leave you guys with the most important interview of the day. I finally asked Jim Jordan why he never wears a suit jacket.

[Claudia Tenney]

You know, just a habit I got into. Because you're in committee and you got some guy on the witness stand and.

[Tim Rice]

You think, you know, wasn't telling the.

[John Bickley]

Truth to your constituents and you're going.

[Claudia Tenney]

To go after them in a cross examination. You got to get, like, ready to.

[Cabot Phillips]

Go, you know, Daily Wire always asking the tough questions. Tim, thanks for reporting.

[Tim Pierce]

You bet.

[Cabot Phillips]

President Trump is directing over $100 billion to AI infrastructure in Pennsylvania.

[Georgia Howe]

Daily Wire reporter Tim Pierce is here to talk about what happened at that summit at Carnegie Mellon University. So, Tim, tell us about the announcement.

[Donald Trump]

Yeah. On Tuesday, Trump said that he had received pledges worth $90 billion for new AI and energy infrastructure in Pennsylvania. Here's some of what he said at the summit.

[John Bickley]

Leading technology and energy companies are announcing more than $92 billion of investments in Pennsylvania. And if you want, we could probably get them up. Let's talk to them right now. But this is a really triumphant day for the people of the Commonwealth and for the United States of America.

[Donald Trump]

And Trump actually did get more investment. By Wednesday, he said the level of investment had risen to over $100 billion. That includes investment from the asset manager, Blackstone, which wants to bankroll $25 billion worth of new data centers and energy infrastructure in the state.

[Georgia Howe]

So how was Pennsylvania selected?

[Donald Trump]

Well, it powered America's first industrial revolution, so why not its second? But actually, the state is covered with old industrial sites that make ideal locations for new data centers. They generally have easy access to electricity and water, which data centers consume tons of. Pennsylvania is also unique in that it sits on top of the Marcellus Shale formation. That means plentiful natural gas ready to be tapped into and less money spent on pipelines to get it to power plants to fuel the data centers. Trump actually boasted about the Homer City, Pennsylvania, power plant that the President said will be resurrected to fuel AI development. Here's Trump.

[John Bickley]

Well, I'm happy Homer City. I was there and I said, I'm going to produce something. I don't know what, because they shut down this massive coal plant, one of the biggest in the country, and it was just purchased by the gentleman that you met yesterday. Very substantial man. I don't know if he's maybe not as substantial as you. I'm not sure, but he's pretty substantial. You know who I'm talking about? About. And they're going to spend billions of dollars on rebuilding it. And it's going to be the largest plant of its kind in the. In the world, I believe, actually in the world. And it's going to be great.

[Donald Trump]

So it was a coal plant, and now it will be the largest natural gas plant in the world, according to the President, The Three Mile island nuclear power plant is also being revived exclusively for data centers to be built by Microsoft. The other asset Pennsylvania has over other states is its water resources. We hear a lot about the electricity needs of these data centers, but they also use millions of gallons of water as well to keep their servers cool. Pennsylvania isn't as stressed about water resources as places like Arizona, for instance.

[Georgia Howe]

Now, all of this development is part of the President's larger plan to remain dominant globally in the AI space. How is it going in that regard?

[Donald Trump]

Yeah, it feels like the air race has just started. But getting a step ahead early can pay a lot of dividends later. The administration is focused its chief rival. Here's the President talking about that at the Pennsylvania Summit on Tuesday.

[John Bickley]

We're here today because we believe that America's destiny is to dominate every industry and be the first in every technology. And that includes being the world's number one superpower in artificial intelligence. And we are way ahead of China. I have to say, we're way ahead of China, and the plants are starting up, the construction starting up.

[Donald Trump]

So he says we're way ahead. But in some ways, China is outpacing the United States energy generation is the biggest one. China is investing heavily in new power stations to build out its already substantial lead over the US in 2023, according to the Brookings Institute, China had over twice the electricity generation that the United States has and was on track to greatly increase that.

[Georgia Howe]

Well, it was Pennsylvanians, too, that put Trump in the White House both times. So big thank you to them. Tim, thanks for reporting.

[Donald Trump]

Thanks for having me on.

[Cabot Phillips]

Thanks for waking up with us. And if you're watching on YouTube, don't forget to like and subscribe. Subscribe. We'll be back this evening with more news you need to know.

[John Bickley]

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