Podcast Summary: The Five – "Fed Up With The Fed"

Release Date: July 24, 2025

Host/Author: FOX News Podcasts

Overview

In the episode titled "Fed Up With The Fed," the panelists of The Five delve into pressing financial and political issues, scrutinizing the Federal Reserve's activities, President Trump's confrontations with major institutions, and emerging claims regarding election interference. The discussion is vibrant, featuring sharp debates, insightful analyses, and noteworthy commentary from each member of the panel: Shannon Bream, Kellyanne Conway, Jessica Tarlov, Jesse Waters, and Greg Gutfeld.

1. President Trump’s Critique of the Federal Reserve

The episode kicks off with a critical examination of President Trump's recent actions targeting the Federal Reserve. The President visited the Federal Reserve's construction site, highlighting his dissatisfaction with the institution's handling of interest rates and budget expenditures.

• Shannon Bream (00:55): "President Trump rocking the hard hats while hitting up the Federal Reserve as he tries to keep the momentum going on his winning streak of smoking hot new trade deals."

• Greg Gutfeld (01:22): "So we're taking a look and it looks like it's about 3.1 billion. Went up a little bit or a lot. So the 2.7 is now 3.1. And I'm not aware of that."

The panel discusses the substantial increase in the Federal Reserve’s renovation budget from $2.7 billion to $3.1 billion, with Jesse Waters pointing out the inclusion of a third building in the project.

• Jesse Waters (01:39): "You just added, you just, you just added in a third building is what that is. That's a third building."

Greg Gutfeld questions the necessity and transparency of the budget increase, emphasizing the need for accountability.

2. Columbia University Settlement and Federal Grants

Shannon Bream brings attention to President Trump's dealings with Columbia University, where the institution agreed to pay a $200 million penalty to regain federal grants.

• Shannon Bream (01:55): "As President Trump shakes up the Fed, he's also shaking up a major league Ivy league school, which 47 reach in a deal with Columbia University getting them to pay a penalty of $200 million to the US government for violating federal law."

Kellyanne Conway underscores the strategic nature of Trump's actions, drawing parallels to his previous business endeavors.

• Kellyanne Conway (02:42): "In 2015, he gave a speech here in New York where he talked about the old Commodore Hotel... This is classic Trump in a couple of ways."

The discussion highlights Trump’s approach to exerting pressure on institutions to comply with his conditions, reflecting his negotiation tactics from his business background.

3. Trump’s Leadership and Economic Management

The panel delves into Trump’s broader economic policies, particularly his stance on interest rates and inflation.

• Greg Gutfeld (02:06): "Well, I'd love him to lower interest rates."

Shannon Bream points out the dissonance between Trump’s role in managing the nation's economy and the perceived overspending by the Federal Reserve.

• Shannon Bream (04:04): "Yeah, Jesse. Especially for people who say this is the guy who's supposed to be managing the nation's pocketbook. And yet these buildings are way over where they were supposed to be."

Jesse Waters uses an analogy to illustrate the mismanagement of funds:

• Jesse Waters (04:13): "It's like when your wife goes shopping and you come home unexpectedly and you see piles and piles of bags in the bedroom."

The panel critiques the Federal Reserve's efficiency and Trump's efforts to hold the institution accountable, emphasizing the impact on taxpayers.

4. Tulsi Gabbard’s Claims on Russian Election Hacking

A significant portion of the episode is dedicated to discussing Tulsi Gabbard’s allegations concerning Russian interference in the 2020 U.S. Presidential Election.

• Jesse Waters (12:46): "President Trump giving props to DNI director Tulsi Gabbard for exposing the Russia hoax, something the liberal media had no problem pushing for years."

The panel debates the credibility of Gabbard’s claims, with contrasting viewpoints emerging.

• Jessica Tarlov (14:09): "I read sections of it. Did not read all 200 pages."

• Kellyanne Conway (15:20): "They are quibbling angels dancing on the head of a pin."

Greg Gutfeld questions the integrity of the media's past coverage on Russiagate and its current response to Gabbard’s report.

• Greg Gutfeld (17:40): "Vibe is great. I think the media unloaded 1,000 unanswered punches during Russiagate to a lot of people, ruined a lot of lives."

The conversation revisits previous investigations into Trump’s campaign, criticizing the media’s handling and the repeated allegations of collusion and interference.

• Jesse Waters (13:08): "Russia hacked the election to tilt it to Mr. Trump."

The panel expresses skepticism towards the established narratives, advocating for a re-examination of the facts presented by Gabbard.

5. Comparisons to Past Investigations and Media Coverage

Shannon Bream draws parallels between the current scrutiny and past incidents like the Hunter Biden laptop story, emphasizing the media’s selective reporting.

• Shannon Bream (16:57): "It feels very Hunter Biden laptop vibes. It's the same thing to me because regardless of what you think about what's in this, the fact that you're told you can't even ask questions because this is not a real story..."

Greg Gutfeld criticizes the media’s long-term portrayal of Trump, suggesting a bias that undermines his achievements.

• Greg Gutfeld (19:10): "Look, the only people that tell you it's time to move on are criminals."

The discussion underscores the enduring impact of past media narratives on current political discourse, advocating for fairness and balance in reporting.

6. Joe Biden’s Book Deal and Presidency Critique

Shannon Bream shifts the focus to President Joe Biden, discussing his recent $10 million book deal amidst criticisms of his administration.

• Kellyanne Conway (23:17): "Former President Biden has reportedly sold his memoir for a whopping $10 million advance. That pales in comparison to what the other fat Dems pulled in for their book deals."

Jesse Waters critiques Biden’s presidency, doubting the substance and impact of his forthcoming memoir.

• Jesse Waters (25:32): "He's got cancer, he's in his 80s. Who knows and what kind of book tour is it?"

Greg Gutfeld humorously contemplates the potential content and reception of Biden’s book, reflecting skepticism about its value.

• Greg Gutfeld (28:06): "He might end up being his own ghostwriter."

Jessica Tarlov offers a counterpoint, suggesting that Biden’s memoir may lack new insights and questioning its appeal.

• Jessica Tarlov (27:09): "I certainly had nothing to do with the debate prep or dosing the president to recover from his overseas travel."

The panel underscores a general sentiment of disillusionment with Biden's leadership, juxtaposing it against Trump’s portrayal as a dynamic leader.

7. Consumer News: Coca Cola’s New Product

Shifting gears, the panel discusses Coca Cola’s decision to reintroduce cane sugar in its beverages, aligning with President Trump’s preferences.

• Greg Gutfeld (30:47): "Coca Cola says it will launch a new product made with cane sugar this fall after the president gave him a sweet talking to about dropping high fructose corn syrup."

Jesse Waters analyzes the implications of this change, framing it as a response to consumer demand for more natural ingredients.

• Jesse Waters (33:41): "They're just going to get to sell more Mexican Coke, and that's essentially what happened there."

Jessica Tarlov critiques the health motivations behind the move, arguing that both high fructose corn syrup and sugar have similar health impacts.

• Jessica Tarlov (34:33): "It's about a 5% difference, but at least it's real ingredient because the high fructose corn syrup has tons of chemicals and additives."

The discussion highlights the balance between consumer choice and regulatory efforts to improve food quality, with varying opinions on the effectiveness and necessity of such initiatives.

8. Lighthearted Segments and Closing Remarks

Towards the end of the episode, the panel engages in lighter banter, touching on topics like sports sponsorships and viral social media moments. Jesse Waters announces the passing of Hulk Hogan, celebrating his legacy.

• Jesse Waters (39:36): "We lost an American legend today. Hulk Hogan... rest in peace."

Greg Gutfeld humorously critiques a staged event by the Cleveland Browns, mocking the overt product tie-ins.

• Greg Gutfeld (37:27): "This is the greatest product tie in history. Dude wipes."

The episode wraps up with playful interactions among the panelists, maintaining the dynamic and entertaining atmosphere characteristic of The Five.

Conclusion

"Fed Up With The Fed" offers a comprehensive and engaging exploration of critical financial and political issues, anchored by the panel’s incisive commentary and spirited debates. From scrutinizing the Federal Reserve's budget to challenging narratives around election interference and evaluating presidential leadership, the episode provides listeners with a thorough analysis of the current socio-political landscape. The blend of serious discourse and lighthearted segments ensures a well-rounded and informative listening experience.