WSJ What’s News: "Famine Unfolding in Gaza, Experts Say" – July 29, 2025

Hosted by The Wall Street Journal

1. Famine Crisis in Gaza

Overview: Food insecurity in Gaza has escalated to what experts are now describing as a famine. An interim report by the Integrated Food Security Phase Classification (IPC) highlights the severity of the hunger crisis amidst the ongoing conflict.

Key Points:

• Severity of the Crisis: The IPC report revealed that at least 16 children under five have died from hunger-related causes since mid-July. This marks the most critical assessment of Gaza's food situation since the war began.

• Expert Analysis: Margarita Stancati, WSJ correspondent, emphasized the widespread and worsening food insecurity across all regions of the Gaza Strip. Acute childhood malnutrition is intensifying, especially in the northern areas, leading to an increase in hunger-related deaths.

• Political Reactions: The situation has drawn comments from high-profile political figures. President Trump noted the dire conditions, stating, “some of those kids, that's real starvation stuff” (01:34). In contrast, Israeli Prime Minister Benjamin Netanyahu denied any policy of starvation, asserting, “there is no starvation in Gaza” (01:34).

Quotes:

• Margarita Stancati: “All areas of the Gaza Strip are experiencing rapidly deteriorating food insecurity. ... these are the three criteria used to measure famine conditions. And the IPC in its update said all three things are getting worse.” (01:34)

• President Trump: “Some of those kids, that's real starvation stuff.” (01:34)

• Prime Minister Benjamin Netanyahu: “There is no policy of starvation in Gaza and in fact there is no starvation in Gaza.” (01:34)

2. Tragic Shooting in New York City

Overview: A horrific shooting incident in midtown Manhattan resulted in the deaths of four individuals, including a NYPD officer and a Blackstone executive. The perpetrator, Shane Tamura, ended his own life following the attack.

Key Points:

• Incident Details: On Park Avenue, 27-year-old Shane Tamura drove his black BMW from Colorado and double-parked during rush hour before initiating the shooting inside a commercial office building (03:22).

• Victims: Among the deceased are NYPD Officer Dida Rule Islam, 36, serving four years, and an executive from Blackstone. A fifth person remains in critical condition (03:24).

• Shooter’s Background: The NYPD reported that Tamura had a documented mental health history. Motives remain under investigation (03:42).

Quotes:

• NYPD Commissioner Jessica Tisch: “Four innocent victims are dead. Among them is NYPD police officer DIDA rule Islam, 36 years old, four years on the job.” (03:24)

• Azhar Sukri: “The NYPD said the alleged shooter had a documented mental health history and that his motives are still under investigation.” (03:42)

3. Trump Administration’s $1 Trillion Bond Plan

Overview: The Trump administration is embarking on an ambitious plan to raise $1 trillion in three months through government borrowing, aiming to transform the U.S. bond market with innovative fee structures.

Key Points:

• Borrowing Strategy: Treasury Secretary Scott Bessens describes himself as the “country's top bond salesman” and has been transparent about the administration’s borrowing plans (07:41). President Trump has indicated a preference for short-term bonds, anticipating rate decreases post-Federal Reserve Chair Jerome Powell’s tenure (07:41).

• Impact on the Bond Market: The administration's approach deviates from past practices by openly discussing borrowing strategies. This shift may lead to increased issuance of short-term debt due to growing borrowing needs, potentially altering the fiscal landscape (09:05).

• Investor Reaction: Investors are closely monitoring the administration’s bond issuance, especially with a formal update due the following day. The Federal Reserve’s rate decisions will also influence market dynamics (09:20).

• Market Implications: Sam Goldfarb, WSJ Markets Reporter, notes that maintaining current bond issuance rates amidst rising borrowing needs effectively constitutes a policy change, favoring short-term debt over long-term stability (10:00).

Quotes:

• Scott Bessens: “The US Government has a fairly large gap between the revenue that's taking in in taxes and the money that it's spending on everything from Medicare to defense. ... that means that the government has to borrow a lot of money to make sure that it can meet its spending obligations.” (07:41)

• President Trump: “We’re going to go very short term, wait for Federal Reserve Chair Jerome Powell to have his term expire, and then we're going to get rates way down and then we're going to go long term.” (07:41)

• Scott Bessens: “Maintaining the status quo in some ways over time will amount to a policy change because if you just are issuing the same amount of... debt needs are getting bigger, you have to issue more short term debt.” (09:05)

4. Business Updates

a. Medicare Drug Plans

• Premium Increases: Medicare drug plan premiums are projected to rise significantly in 2026 due to escalating costs, regulatory changes, and reductions in subsidy programs. This change follows a year where a subsidy program injected an additional $6.2 billion into Part D plans (07:07).

b. Mars' U.S. Investment

• Expansion Plans: Mars, renowned for brands like M&M’s and Skittles, is set to invest over $2 billion in U.S. factories within 18 months. This investment spans their snacking, food, and pet care divisions, complementing a previous $6 billion investment that created 9,000 U.S. jobs. Notably, 94% of Mars products sold in the U.S. are manufactured domestically (05:00).

c. Spotify’s Q2 Earnings

• Subscriber Growth and Financials: Spotify reported a 12% increase in premium subscribers for Q2, surpassing its own projections. The company expanded its audiobook and personalized music services globally but still faced a net loss of approximately $100 million due to higher personnel and marketing expenses. Upcoming earnings reports from UnitedHealth, Merck, Procter & Gamble, Boeing, Visa, and Starbucks are also anticipated (05:00).

5. Wall Street and Treasury Market Outlook

Overview: With the Trump administration’s aggressive borrowing strategy, Wall Street anticipates a surge in Treasury bill issuance, potentially leading to increased volatility and adjustments in the bond market.

Key Points:

• Investor Sentiment: The administration’s proactive communication about borrowing strategies is leading investors to closely watch bond issuance patterns and Federal Reserve rate decisions.

• Future Projections: As the Treasury plans to borrow more than a trillion dollars in the upcoming quarter, the market expects a significant influx of short-term bonds, which may affect interest rates and investment strategies (10:00).

Quotes:

• Sam Goldfarb: “How did we get here?” highlighting the factors leading to the current borrowing strategy (07:07).

• Azhar Sukri: “With the Fed's latest rate decision due tomorrow, there will be a lot to sift through. Not least, any indications of when a rate cut could be expected that might send the interest and all that debt down.” (10:17)

Conclusion

The episode of WSJ What’s News delves into pressing global and national issues, from the humanitarian crisis in Gaza and a tragic event in New York City to significant financial strategies by the Trump administration. Additionally, key business developments and their implications on the market are thoroughly examined, providing listeners with a comprehensive understanding of the current economic and political landscape.

Produced by: Daniel Bark and Kate Bullivant
Supervising Producer: Sandra Kilhoff
Host: Azhar Sukri

Timestamps:

• 00:00 – Viking Advertisement
• 00:17 – Introduction by Azhar Sukri
• 01:34 – Famine in Gaza Details
• 03:22 – NYC Shooting Incident
• 07:07 – Transition to Treasury Bond Discussion
• 10:18 – Closing Remarks

Note: Advertisements, intros, and outros have been omitted per request to focus solely on content-rich segments.