NPR News: 07-24-2025 5PM EDT

Summary

NPR News Now – July 24, 2025, 5 PM EDT

Economic Developments

Federal Reserve Renovation Sparks Tensions

In a notable display of bipartisan tension, President Donald Trump visited the Federal Reserve Building in Washington D.C. alongside Federal Reserve Chair Jerome Powell. The duo donned hard hats as they toured the premises, drawing attention to the ongoing $2.5 billion renovation project. President Trump criticized the Central Bank's handling of the project, labeling it as "over budget."

At [00:34], NPR's Kristen Wright reports:

"President Trump accuses Powell and the Central bank of mismanaging its ongoing two and a half billion dollar renovation project. It's over budget."

The visit highlighted underlying frustrations, with President Trump pressuring Powell to consider lowering interest rates to boost economic growth. Trump expressed his stance directly at [01:04]:

"We would be helped if interest rates would come down, but we're going to see how the board rules on that soon. I'd love to see them come down a lot."

Despite the President's requests, analysts anticipate that the Federal Reserve will maintain current interest rates in their upcoming meeting next week.

Stock Market Fluctuations

The financial markets closed the day with mixed results. The Dow Jones Industrial Average saw a decline, falling by 316 points, while the NASDAQ experienced a modest increase, closing up 37 points. These movements reflect the current economic uncertainties and respond to both domestic policy changes and international economic relations.

Political Landscape

GOP's Maneuvering in the Epstein Case

The Republican-led House is set to interview Ghislaine Maxwell, the convicted associate of Jeffrey Epstein, amidst ongoing controversies. House Oversight Committee Chairman James Comer has issued the first congressional subpoena for Maxwell, aiming to delve deeper into the federal prosecution of the Epstein case.

At [01:36], Commissioner James Comer stated:

"I've issued the first congressional subpoena for Ghislaine Maxwell to look into federal prosecution of the Jeffrey Epstein case."

However, skepticism remains within the GOP regarding the efficacy of this interview. An unnamed Republican lawmaker voiced concerns at [01:55]:

"Can we trust what she's going to say? That's a reasonable question. Is that credible evidence? I don't know."

Despite these reservations, Comer affirmed that the interview is scheduled for August 11th at the Tallahassee, Florida prison, where Maxwell is serving a 20-year sentence.

Potential Railroad Merger on the Horizon

Union Pacific is currently in negotiations with Norfolk Southern to explore a possible merger. This move could significantly reshape the railroad industry, potentially leading to increased efficiency and expanded service networks. Details of the talks remain under wraps, but the merger could have substantial implications for commerce and transportation across the United States.

Executive Order Targets Homelessness

President Trump has signed an executive order aimed at overhauling the nation's approach to homelessness. The directive seeks to streamline the removal of outdoor encampments and facilitate the placement of individuals into mental health or addiction treatment programs under specific conditions. Additionally, the order emphasizes the prioritization of federal funds for housing assistance programs that mandate sobriety and treatment as prerequisites.

Kristen Wright highlighted these changes at [04:34]:

"It calls for changes to make it easier for states and cities to remove outdoor encampments and get people into mental health or addiction treatment in certain circumstances."

National Issues

Impact of Federal Cuts on National Parks

Cuts to the National Park Service under the Trump administration have raised concerns about the capability of parks to manage the expected influx of millions of visitors this summer. Glacier National Park in Montana serves as a focal point for evaluating these impacts.

Kirk Siegler reports from West Glacier at [03:50]:

"Glacier's permanent staff has been cut by 25% through firings, buyouts, and President Trump's hiring freeze on all federal agencies."

While visitors like Nathan Boggs from Minnesota report no immediate disruptions, former Park Service employees and watchdog groups argue that the apparent normalcy masks significant back-office deficiencies. Essential tasks such as infrastructure planning, wildlife studies, and future hiring are reportedly on hold, potentially compromising the park's long-term sustainability.

Entertainment News

Passing of Wrestling Icon Hulk Hogan

The wrestling community mourns the loss of Hulk Hogan, a towering figure in professional wrestling who passed away from cardiac arrest in Florida at the age of 71. Steve Futterman reflects on Hogan's illustrious career, noting his charismatic presence both inside and outside the ring.

At [02:49], Hulk Hogan is quoted:

"Hulk Hogan has betrayed wcw."

Futterman elaborates on Hogan's legacy and controversies, including his temporary removal from the Wrestling Hall of Fame following the release of a tape containing racist remarks. After issuing an apology, Hogan was reinstated, underscoring his enduring influence in the world of sports entertainment. Born Terry Bollea in Augusta, Georgia, Hogan's persona and dedication left an indelible mark on fans and the industry alike.

Closing Notes

This edition of NPR News Now provided a comprehensive overview of significant economic, political, national, and entertainment stories shaping the discourse on July 24, 2025. For continuous updates, stay tuned to NPR.

Transcript

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[Kristen Wright]

LIVE from NPR News in Washington, I'm Kristen Wright. President Trump toured the Federal Reserve Building in Washington this afternoon with Fed Chair Jerome Powell. The president accuses Powell and the Central bank of mismanaging its ongoing two and a half billion dollar renovation project. It's over budget. Trump and the Fed chair appeared with hard hats on and talked to reporters. They bickered back and for over the renovation price tag. And Trump once again pressured Powell to cut interest rates.

[Donald Trump]

We're doing pretty well with the European Union likewise. And we have some others. They're all really big. And our country is going to make a lot of money. We would be helped if interest rates would come down, but we're going to see how the board rules on that soon. I'd love to see them come down a lot.

[Kristen Wright]

The Fed is expected to leave rates steady when it meets next week. A Republican led House is preparing to interview convicted sex offender Ghislaine Maxwell. NPR's Claudia Grizzalo reports. It's among the latest turns in the GOP's struggle to respond to the Jeffrey Epstein controversy.

[James Comer]

House Oversight Committee Chairman James Comer says he's issued the first congressional subpoena for Ghislaine Maxwell to look into federal prosecution of the Jeffrey Epstein case. Speaker Mike Johnson admits he and Comer are worried the interview may not be useful.

[Unnamed Republican Lawmaker]

Can we trust what she's going to say? That's a reasonable question. Is that credible evidence? I don't know.

[James Comer]

That ambivalence reflects splits among Republican lawmakers who are under pressure from their base to release the Epstein files. Comer says his panel will interview Maxwell on August 11th at the Tallahassee, Florida prison where she's serving a 20 year sentence. Claudia Goes, NPR News.

[Kristen Wright]

Justice Department officials have been meeting with Maxwell today in Tallahassee. One of the most recognized names in pro wrestling has died. Hulk Hogan suffered cardiac arrest in Florida today. He was 71 years old. More now from Steve Futterman. Hogan, Hogan, Hogan.

[Steve Futterman]

In the 1980s, as the make believe, highly scripted world of professional wrestling reached new heights. No one was bigger than Hulk Hogan.

[Hulk Hogan]

Hulk Hogan has betrayed wcw.

[Steve Futterman]

He was over the top in the ring with his trademark blonde mustache and of course, outside the ring.

[Hulk Hogan]

This is the final test for Hulk Hogan, brother. This is the test that separates the good men from the bad men, brother.

[Steve Futterman]

There were controversies for a time. He was removed from the Wrestling hall of Fame when a tape emerged of amusing racist language. After he apologized, he was reinstated. As for the name, well, Hulk Hogan wasn't his given name. He was born Terry Bolia in Augusta, Georgia. For NPR News, I'm Steve Futterman in Los Angeles.

[Kristen Wright]

Union Pacific is in talks with Norfolk Southern for a possible merger. You're listening to NPR News. In Washington. The Trump administration's cuts to the National Park Service spawned fears of widespread problems caused by the parks being unable to handle millions of visitors this summer. NPR's Kirk Siegler reports on how things are going in Glacier national park in Montana.

[Kirk Siegler]

Glacier's permanent staff has been cut by 25% through firings, buyouts and President Trump's hiring freeze on all federal agencies. These cuts are real, but many visitors like Nathan Boggs from Minnesota, say they aren't seeing any effects or disruptions. Traffic on the going to the sun road is its usual busy, and bathrooms and campgrounds are clean.

[Kristen Wright]

Everything just seems really well taken care of for us.

[Kirk Siegler]

But many former Park Service employees and watchdog groups say that's by design. Parks like this did end up rehiring some staff and hiring more season rangers so things look normal. But they say all the work in the back office, like planning for infrastructure, wildlife studies and even hiring for next year, is on hold. Kirk Zigler, NPR News, West Glacier, Montana.

[Kristen Wright]

President Trump has signed an executive order that seeks to overhaul policies on managing homelessness. It calls for changes to make it easier for states and cities to remove outdoor encampments and get people into mental health or addiction treatment in certain circumstances. The order also calls for prioritizing federal funds for programs that require sobriety and treatment to receive housing assistance. The Dow Jones Industrial Average closed down 316 points today. The NASDAQ closed up 37. I'm Kristen Wright, and you're listening to NPR News in Washington.

[Ritual Vitamins]

Support for npr. This message comes from ritual. What makes ritual vitamins different? Ritual vitamins are made with bioavailable, clinically studied key ingredients and a patented nutrient delivery system that aims to help your body use the nutrients you're getting. Ritual's essential multivitamins are made with you and your body in mind and backed by scientific research filled with key ingredients as well as the essence of mint so you can enjoy taking your vitamins. Get 25% off your first purchase when you visit ritual.com NPR.