NPR News: 02-11-2025 5PM EST

Summary

NPR News Now – February 11, 2025, 5 PM EST Summary

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1. U.S. Hosts Jordanian King Amid Plans for Palestinian Relocation

Washington D.C. – President Donald Trump welcomed King Abdullah II of Jordan to the White House today, signaling a significant step in the Trump administration's efforts to address the ongoing conflict in Gaza. The discussion centered around Trump's contentious plan to relocate Palestinians from Gaza to neighboring regions to facilitate redevelopment.

At 00:29, President Trump outlined his vision in the Oval Office:

"With the king sitting beside him in the Oval Office, Trump again outlined his plans to move Palestinians out of Gaza so that the territory could be redeveloped."

He further elaborated on potential relocation sites at 00:38:

"I believe we'll have a parcel of land in Jordan. I believe we'll have a parcel of land in Egypt. We may have someplace else. But I think when we finish our talks, we'll have a place where they're going to live very happily and very safely."

Despite Trump's optimism, the plan has faced strong opposition from Arab leaders. In response, King Abdullah maintained a more reserved stance, announcing plans for a forthcoming meeting of Arab leaders in Saudi Arabia to discuss cooperation with the United States. However, King Abdullah did commit to a humanitarian effort, declaring that Jordan would accept 2,000 children from Gaza suffering from cancer or other serious illnesses.

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2. President Trump and Elon Musk Defend Government Cost-Cutting Initiatives

Later at the White House, President Trump was joined by billionaire entrepreneur Elon Musk to advocate for ongoing government cost-cutting measures. Musk, standing beside the President's Oval Office desk, presented a series of claims regarding substantial financial waste within federal agencies, stemming from his investigations through DOGE Investig.

When questioned about the transparency and potential hostility of his methods, Musk confidently responded at 01:18:

"The people voted for major government reform. Everything they're doing is transparent."

Musk's assertions are part of a broader initiative to overhaul government operations, though they have sparked debates about the balance between reform and accountability.

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3. Federal Reserve Chairman Jerome Powell Addresses Inflation and Interest Rates

In financial news, Federal Reserve Chairman Jerome Powell testified before the Senate Banking Committee today, providing insights into the central bank's current economic stance. Powell indicated that while inflation has significantly eased, prices continue to rise at a rate higher than the Fed's ideal targets.

At 01:57, Powell stated:

"While inflation has eased significantly, prices are still climbing faster than the central bank would like."

He also highlighted the robustness of the job market, which supports the Fed's decision to maintain steady interest rates for the foreseeable future.

Louisiana Senator John Kennedy acknowledged the Fed's efforts, remarking at 02:18:

"Things aren't perfect. Inflation's obviously still sticky, but knock on wood, we have experienced a soft landing."

Despite the positive outlook, Powell refrained from commenting on President Trump’s newly imposed tariffs, noting potential concerns over their impact on price levels.

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4. Legal Rulings and Market Reactions Amidst Tariff Tensions

In legal developments, a federal judge has upheld a ban preventing Elon Musk's government downsizing entity, DOGE, from accessing sensitive Treasury Department records containing data on millions of Americans. Judge Jeanette Vargas affirmed the continuation of an existing order, though she allowed new Treasury Secretary Scott Besant to access these records. This decision follows a lawsuit filed by 19 Democratic attorneys general against President Trump over the matter.

The ruling has had mixed effects on the stock market. Wall Street witnessed a divided close today, with the Dow Jones Industrial Average rising by 100 points, while the Nasdaq experienced a decline. Investors remain cautious as they assess the long-term implications of the ongoing tariff debates.

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5. Canadian Leaders Visit Washington to Avert Trade War

In an effort to prevent an escalating trade conflict, top Canadian provincial and territorial leaders embarked on a two-day visit to Washington. The delegation, comprising 13 provincial premiers and territorial leaders, aimed to engage with key officials of the Trump administration to address recent tariff threats.

This visit comes in the wake of President Trump's announcement of steep tariffs on steel and aluminum, with Canada being the largest supplier of both commodities to the United States. According to NPR's Jackie Northam, Canadian leaders are meeting with the U.S. Chamber of Commerce, lobbyists, and administration officials to understand the rationale behind the proposed tariffs, which extend beyond steel and aluminum to include a broad range of Canadian products.

Ontario Premier Doug Ford emphasized the gravity of the situation, stating:

"The country will act hard and fast if Trump goes through with its threats to tariff aluminum and steel."

The Canadian delegation underscored the interdependence of the two nations, highlighting that the U.S. and Canada engage in approximately $800 billion in cross-border trade annually. Both nations stand to face significant economic repercussions should the tariffs proceed.

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6. Market Updates: Oil Prices Surge Amid Geopolitical Tensions

Crude oil futures experienced a notable uptick today, reaching a two-week high of $73.32 per barrel. This increase is attributed to concerns over potential disruptions in oil supplies from Russia and Iran, coupled with rising tensions in the Middle East. The surge in oil prices reflects investor anxiety over the stability of global oil markets in the face of geopolitical instability.

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7. Valentine's Day Flower Imports Navigate Tariff Challenges

As Valentine's Day approaches, there were initial concerns about the impact of tariffs on imported flowers. However, these worries appear to be unfounded this year. In the lead-up to Valentine's Day Friday, approximately 940 million stems of cut flowers have already entered the U.S. market, with about 90% arriving in Miami and others passing through Los Angeles. The majority of these flowers, including roses and carnations, are sourced from Colombia and Ecuador, effectively circumventing tariff-related obstacles.

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This summary provides an overview of the key topics discussed in the February 11, 2025 episode of NPR News Now. For more detailed coverage, listeners are encouraged to tune into the full broadcast.

Transcript

[Carvana]

This message comes from Carvana. Sell your car the convenient way, enter your license plate or vin, answer a few questions and get a real offer in seconds. Go to Carvana.com today.

[Jack Spear]

Live from NPR News in Washington, I'm Jack Spear. President Donald Trump is hosting the king of Jordan at the White House today. NPR's Franco Ordonez reports. Trump has launched a pressure campaign against Jordan and other regional partners to take in Palestinians from Gaza.

[Donald Trump]

With the king sitting beside him in the Oval Office office, Trump again outlined his plans to move Palestinians out of Gaza so that the territory could be redeveloped.

I believe we'll have a parcel of land in Jordan. I believe we'll have a parcel of land in Egypt. We may have someplace else. But I think when we finish our talks, we'll have a place where they're going to live very happily and very safely.

It's a plan that Arab leaders have roundly rejected. But when it was his time to speak, King Abdullah proceeded more cautiously, saying Arab leaders will meet soon in Saudi Arabia to discuss how they can work with the U.S. the king did announce that Jordan would take in 2,000 children from Gaza who have cancer or are sick. Franco Ordonez, NPR News.

[Jack Spear]

Also at the White House today, President Trump was joined by billionaire Elon Musk to tout and defend the ongoing government cost cutting efforts. Musk, standing next to the president's Oval Office desk, listed a series of examples of the billions in waste he claims to have uncovered as part of his Doge Investig investigations into federal agencies. Musk, questioned about whether he is leading a hostile takeover of government in a non transparent way, responded, quote, the people voted for major government reform. He says everything they're doing is transparent. Federal Reserve Chairman Jerome Powell says the central bank does not need to be in a hurry to cut interest rates. NPR's Scott Horsley reports. Powell testified before Senate committee today.

[Jerome Powell]

Powell told the Senate Banking Committee that while inflation has eased significantly, prices are still climbing faster than the central bank would like. The job market is also in a solid state, so the Fed's expected to hold interest rates steady for some time to come. Louisiana Senator John Kennedy gave Powell and his Fed colleagues credit for helping to curb inflation without dipping the economy into recession.

[John Kennedy]

Things aren't perfect. Inflation's obviously still sticky, but knock on wood, we have experienced a soft landing.

[Jerome Powell]

Powell declined to comment on President Trump's new tariffs, which could put more upward pressure on prices. Scott Horsley, NPR News.

[Jack Spear]

A federal judge has left intact a ban that prevents Elon Musk's government downsizing entity DOGE from accessing Treasury Department records that include the sensitive data of millions of Americans. However, the judge said that does not include new Treasury Secretary Scott Besant. Judge Jeanette Vargas issuing the order today continuing a ban put in place by another judge. The order came after 19 Democratic attorneys generals sued President Trump over the matter. Stocks closed mixed on Wall street today as investors continue to monitor the possible effects of tariffs. The dow was up 100. The Nasdaq fell. This is NPR. Top Canadian leaders began a two day visit to Washington today to meet with key officials of the Trump administration. As NPR's Jackie Northam reports, the visit is an effort to head off a trade war between the U.S. and Canada.

[Jackie Northam]

The visit by 13 provincial premiers and territorial leaders comes one day after President Trump announced steep tariffs on steel and aluminum. Canada is the largest supplier of both to the U.S. they'll meet with the U.S. chamber of Commerce as well as lobbyists and administration officials in an effort to get insight into why punishing tariffs are being threatened not only on Canadian aluminum and steel, but a whole array of other Canadian products. Their message is that tariffs will hurt both countries, which do about $800 billion in cross border trade each year. Ontario Premier Doug Ford says the country will act hard and fast if Trump goes through with its threats to tariff aluminum and steel. Jackie Northam, NPR News.

[Jack Spear]

While there was some concern about the possible effect of tariffs on Valentine Day flowers this year, it appears that is not going to fly as an excuse for anyone who drops the ball. That's because in the run up to this Friday, millions of cut flowers have already wended their way into the U.S. about 940 million stems of cut flowers overall, about 90% of the flowers being sold in the U.S. come to Miami. Others pass through Los Angeles. That includes roses, carnations and other flowers flown in mostly from Colombia and Ecuador. Crude oil futures prices bumped up to a two week high today amid worries about Russian and Iranian oil supplies and rising Mideast tensions. Oil up a dollar a barrel to settle at $73.32 a barrel. I'm Jack Spier, NPR News, in Washington.

[Carvana]

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