
Plus, an asteroid alert (for 2032).
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Charles Schwab
This podcast is supported by Charles Schwab. Decisions made in Washington can affect your portfolio every day. But what policy changes should investors be watching? Washington Wise is an original podcast from Charles Schwab that unpacks the stories making news in Washington right now and how they may affect your finances and portfolio. Listen@schwab.com WashingtonWise.
Tracy Mumford
From the New York Times, it's the headlines. I'm Tracy Mumford. Today's Wednesday, February 19th. Here's what we're calling covering. The Trump administration is going all in on building closer ties with Russia, upending decades of American foreign policy. Yesterday, top U.S. officials, including Secretary of State Marco Rubio met for four hours with Russia's foreign minister as they began peace talks around the war in Ukraine. It was the first face to face meeting between Russia and the US since Russia's invasion in 2022. Rubio said that ending the war would open up, quote, extraordinary business and political opportunities for the U. S and Russia, signaling that the administration is ready to look past Russia's brazen land grab and its killing of thousands of civilians. Ukraine said it was not invited to the peace talks at all.
Donald Trump
Yeah, please.
Tracy Mumford
After the meeting, do you have any message for Ukrainians who after three years of fighting might feel betrayed or disappointed at not having a seat at these initial talks? In Saudi Arabia, Trump faced questions about the negotiations at a press conference at Mar a Lago. My colleague Jonathan Swan was there.
Jonathan Swan
He was asked about Ukraine not having a seat at the table and it was a very revealing exchange.
Donald Trump
Disappointed. I hear that, you know, they're upset about not having a seat. Well, they've had a seat for three years and a long time before that. This could have been settled very easily. Just a half, a half baked negotiator could have settled this.
Jonathan Swan
Years ago, President Trump attacked Ukrainian President Volodymyr Zelensky.
Donald Trump
I mean, I hate to say it, but he's down at 4% approval rating. And where a country has been blown to smithereens, you got.
Jonathan Swan
Trump incorrectly said that he had a 4% approval rating and even seemed to suggest that Zelensky was the one who was responsible for the Russian invasion.
Donald Trump
Three years, you should have never started it. You could have made a deal.
Jonathan Swan
We already knew that. Trump felt more warmly toward the Russian President Vladimir Putin than he did towards Zelenskyy. But it was illuminating to be there at Mar A Lago at this moment as his team is negotiating to see him effectively blame Zelenskyy for the invasion of his country. The contempt was stark. Trump didn't say a bad word about Putin, and all of his criticisms seemed directed towards Zelenskyy.
Tracy Mumford
President Trump's p Putin has raised concerns even among members of his own party. Republican Senator Roger Wicker of Mississippi urged caution in an interview on cnn. Do you think that Putin can be trusted in these negotiations?
Donald Trump
No. Putin is a war criminal and should be in jail for the rest of his life if not executed. I've just finished signing some executive orders and if we could start with that, will, you might want to come up.
Tracy Mumford
Here At Mar a Lago Yesterday, President Trump also signed a new order expanding his power over independent government agencies. The agencies range from the securities and Exchange Commission to the National Labor Relations Board. They regulate everything from Wall street to Internet access to unionizing. They're agencies that Congress established. They're designed to be independent and they're structured so their day to day activities are not under the direct control of the president.
Donald Trump
These agencies do not get to become a fourth branch of government, issuing rules and edicts all by themselves. And that's what they've been doing.
Tracy Mumford
When Trump was on the campaign trail, he vowed to change that.
Donald Trump
I will require that they submit any regulations they're considering for White House review.
Tracy Mumford
And his new order follows through. It requires the agencies to submit their policies to the White House in advance and says the administration can block and cut off funding for initiatives that conflict with the president's priorities. Ending the agency's independence has been a longtime goal of the conservative legal movement, which sees this as a way to reduce government regulation and rules on corporations. Three more quick updates from Washington. On the energy front, the Trump administration is moving to fast track fossil fuel projects. The Army Corps of Engineers has created a new class of emergency permits to speed up the approval of projects like pipelines, mines and power plants. It's part of President Trump's demand to increase oil, gas and coal production. The move could limit environmental reviews of the projects and cut out the chance for the public to weigh in. At the Department of Health and Human Services, Robert F. Kennedy Jr. Laid out his agenda in his first address to staffers. He vowed to investigate the causes of chronic disease, said he would scrutinize childhood vaccines and prioritize other topics that he said had been considered taboo by mainstream science, saying, quote, nothing is going to be off limits. And across the federal government, the Trump administration continues to carry out mass firings. At least 3,000 employees from the U.S. forest and National Park Services lost their jobs this past week. That includes rangers who maintain trails, clean facilities, and conduct search and rescue missions. Some rangers told the Times that the job cuts could make parks and forests less safe for the public. And more firings are planned at multiple other departments, including the Pentagon. Today on the daily federal workers on how the cuts have them feeling under attack. The stress is starting to build. Like, jobs really not secure at this point. It's like contraction in my stomach and chest. I started to, like, not be able.
Charles Schwab
To eat or sleep.
Tracy Mumford
At the Vatican, officials announced that Pope Francis has pneumonia and will remain hospitalized in Rome. The head of the Catholic Church is 88 years old. He went into the hospital last Friday. The Vatican said his condition is, quote, complex, but that he's in good spirits. The pope had part of his right lung removed when he was younger, leaving him prone to respiratory issues. Over the last few years, he's faced a number of health challenges. He's been using a walker or a wheelchair more and more, but he's kept up a busy schedule. And finally, astronomers announced yesterday that Earth's chance of being hit by an asteroid is now at its highest level ever recorded. To be clear, that is still very low. But they've got their eye on an asteroid called 2024 YR4, which they just spotted in December. It's expected to pass very close to Earth in 2032 on December 22, to be exact. And there's a chance 3.1% that it could actually hit the planet. It's smaller than other asteroids that researchers have tracked, somewhere between 130 and 300ft long. But it could demolish a city with a direct hit. Again, there's a slim chance that could happen, but it's a good time to remember that NASA has a program designed for these situations. In the last few years, it ran a test smashing a spacecraft into an asteroid on purpose to see if it could knock it off course. And it was able to minimally alter its path that way. The agency's administrator at the time said the test showed, quote, NASA is serious as a defender of this planet. Those are the headlines. I'm Tracy Mumford. We'll be back tomorrow.
Podcast Summary: "Trump Pivots Toward Putin, and R.F.K. Jr. Says ‘Nothing’ Is Off Limits"
The New York Times' "The Headlines" episode released on February 19, 2025, delves into significant geopolitical shifts, domestic policy changes, and pressing global concerns. Hosted by Tracy Mumford, the episode navigates through the Trump administration's strategic pivot towards Russia, Robert F. Kennedy Jr.'s controversial agenda at the Department of Health and Human Services (HHS), extensive government layoffs, and alarming updates from the Vatican and the scientific community.
Overview: The episode opens with a striking development in U.S. foreign policy as the Trump administration embarks on building closer ties with Russia, a move that disrupts decades of established American foreign policy.
Key Points:
Historic Meeting: Top U.S. officials, including Secretary of State Marco Rubio, engaged in a four-hour meeting with Russia's Foreign Minister to initiate peace talks concerning the ongoing war in Ukraine. This marks the first face-to-face encounter between Russian and U.S. officials since Russia's invasion of Ukraine in 2022.
Rubio stated that "ending the war would open up, quote, extraordinary business and political opportunities for the U.S and Russia" (00:26).
Exclusion of Ukraine: Notably, Ukraine was not invited to these peace negotiations, raising concerns about the inclusivity and effectiveness of the talks.
Overview: Following the peace talks, President Trump addressed the media from Mar-a-Lago, expressing controversial views on Ukraine's role in the conflict.
Key Points:
Disappointment with Ukraine's Exclusion: When questioned about Ukraine's absence from the negotiations, Trump responded dismissively.
“Disappointed. I hear that, you know, they're upset about not having a seat. Well, they've had a seat for three years and a long time before that. This could have been settled very easily. Just a half, a half-baked negotiator could have settled this,” Trump remarked (01:37).
Criticism of President Zelenskyy: Trump went further to criticize Ukrainian President Volodymyr Zelenskyy, inaccurately claiming his approval rating was at 4% and suggesting he was partly responsible for Russia's aggression.
“I mean, I hate to say it, but he's down at 4% approval rating. And where a country has been blown to smithereens, you got,” Trump asserted (02:02).
Analysis: Trump's remarks indicate a nuanced stance that seemingly favors rapprochement with Russia while undermining Ukrainian leadership, a move that has sparked concern even within his own Republican ranks.
Overview: Not all Republicans share Trump's enthusiasm for engaging with Russia, highlighting internal tensions within the party.
Key Points:
Senator Roger Wicker's Caution: Republican Senator Roger Wicker of Mississippi expressed skepticism regarding President Putin's trustworthiness during an interview with CNN.
“No. Putin is a war criminal and should be in jail for the rest of his life if not executed,” Trump responded to Wicker's concerns (03:09).
Analysis: This exchange underscores a rift within the Republican Party, with some members wary of strengthening ties with Russia given its actions in Ukraine.
Overview: In a significant policy shift, President Trump signed an executive order aimed at increasing his oversight over independent government agencies.
Key Points:
New Executive Order: The order mandates that agencies like the Securities and Exchange Commission (SEC) and the National Labor Relations Board (NLRB) submit their regulatory policies to the White House for review. This move allows the administration to block and potentially defund initiatives that clash with the President's priorities.
“These agencies do not get to become a fourth branch of government, issuing rules and edicts all by themselves. And that's what they've been doing,” Trump declared (03:57).
Departure from Independence: This policy reverses long-standing practices designed to maintain agency autonomy, aligning with the conservative legal movement's objectives to reduce governmental regulation on corporations.
“I will require that they submit any regulations they're considering for White House review,” Trump vowed (04:10).
Analysis: By undermining the independence of regulatory bodies, the Trump administration aims to streamline policy implementation but raises concerns about checks and balances within the government structure.
Overview: Robert F. Kennedy Jr., appointed to a leadership role within the HHS, outlined an ambitious and contentious agenda, signaling a shift in the department's focus.
Key Points:
Investigative Priorities: Kennedy pledged to explore the root causes of chronic diseases, subject childhood vaccines to rigorous scrutiny, and tackle topics previously deemed too sensitive or controversial by mainstream science.
“Nothing is going to be off limits,” Kennedy proclaimed (04:15).
Analysis: Kennedy's agenda has stirred debate, with supporters viewing it as a commitment to scientific transparency, while critics worry it may undermine public health initiatives and vaccine confidence.
Overview: Aligning with the administration's energy priorities, efforts are underway to expedite fossil fuel projects, potentially sidelining environmental considerations.
Key Points:
Fast-Tracking Permits: The Army Corps of Engineers introduced a new category of emergency permits to accelerate approvals for pipelines, mines, and power plants.
Environmental Implications: This initiative may curtail environmental reviews and diminish public participation in the decision-making process, raising environmental and community concerns.
Analysis: This policy shift reflects the administration's commitment to boosting oil, gas, and coal production but poses significant questions about environmental stewardship and sustainable development.
Overview: The Trump administration has initiated widespread layoffs within the federal government, affecting various departments and services.
Key Points:
Scope of Job Cuts: Over 3,000 employees from agencies like the U.S. Forest Service and the National Park Service have lost their positions. Roles include rangers responsible for trail maintenance, facility cleaning, and search and rescue operations.
Impact on Services: Former rangers voiced concerns that the reductions could compromise the safety and accessibility of national parks and forests.
“The stress is starting to build. Like, jobs really not secure at this point. It's like contraction in my stomach and chest. I started to, like, not be able to,” a federal worker shared (05:45).
Broader Implications: Additional layoffs are projected across multiple departments, including the Pentagon, intensifying fears about governmental stability and service continuity.
Analysis: These mass firings suggest a broader strategy to reduce federal workforce and potentially reallocate resources, though they may undermine public services and employee morale.
a. Health Update: Pope Francis Hospitalized
Condition: Pope Francis, aged 88, has been hospitalized in Rome due to pneumonia. His condition is described as "complex," though he remains in good spirits.
Background: The Pope has a history of respiratory issues, having undergone lung surgery in the past. Recently, his mobility has diminished, relying more on a walker or wheelchair.
b. Asteroid Threat: 2024 YR4
Risk Assessment: Astronomers have identified asteroid 2024 YR4 as the closest Earth will come to being struck by an asteroid, with a 3.1% chance of impact on December 22, 2032.
Characteristics: Measuring between 130 and 300 feet in length, the asteroid poses significant destructive potential, potentially demolishing a city upon impact.
“NASA is serious as a defender of this planet,” affirmed the agency's administrator, highlighting ongoing efforts to mitigate such threats (06:15).
Preventative Measures: NASA continues to develop and test strategies to alter asteroid trajectories, including spacecraft interception missions designed to deflect potential earthbound objects.
Conclusion: This episode of "The Headlines" presents a comprehensive overview of pivotal events shaping both U.S. domestic policy and international relations. The Trump administration's redefinition of foreign alliances and domestic regulatory frameworks, coupled with substantial governmental workforce reductions, signals profound shifts with lasting implications. Concurrently, global health concerns and celestial threats underscore the multifaceted challenges facing today's world.
Listeners are provided with a nuanced analysis of these developments, enriched by direct quotations and critical insights from key political figures and affected individuals. This episode serves as an essential briefing for those seeking to understand the current landscape of American politics and its ripple effects globally.
Timestamps:
Note: Times referenced are indicative and correspond to segments within the provided transcript.