WSJ What’s News: "Trump Ejects National Security Adviser Mike Waltz"

Release Date: May 1, 2025
Host: The Wall Street Journal
Description: What's News delivers the day's most significant stories from business, finance, global events, and politics that influence markets. This episode dives deep into President Trump's decision to replace National Security Adviser Mike Waltz, among other pivotal developments.

1. Presidential Shake-Up: Mike Waltz Out as National Security Adviser

Timestamp: 00:33 – 04:00

The episode opens with the breaking news that President Trump has dismissed National Security Adviser Mike Waltz, marking the first high-profile departure from his administration in the second term.

• Pierre Bienna May (00:33): "National Security Advisor Mike Waltz is out, making him the first top official to lose his job in Trump's second term."

• Meredith McGraw (02:03): "It's certainly a serious game of musical chairs over here at the White House... Elise Stefanik until she was asked to come back to her role as a member of Congress because of the tight margins there in the House."

The decision comes after reports that Waltz added a journalist to a sensitive Signal group chat discussing a bombing operation against Houthi rebels in Yemen. Trump announced Waltz's reassignment to U.S. Ambassador to the United Nations via social media, signaling a strategic repositioning within his administration.

• Pierre Bienna May (02:36): "President Trump is replacing National Security Adviser Mike Waltz... Secretary of State Marco Rubio will step in as interim national security advisor."

Meredith McGraw (03:28): "Trump is really placing a lot of responsibility in Marco Rubio, and that signals to us not only how much Trump puts his respect and trust in Rubio and his administration and carrying out his foreign policy..."

This reshuffle underscores Trump's trust in Rubio, who now juggles multiple roles including acting USAID administrator and acting archivist, indicating an intensified focus on foreign policy execution.

2. Legal Setbacks: Alien Enemies Act Ruling Against Trump

Timestamp: 04:00 – 05:20

A federal judge in Texas ruled President Trump's use of the Alien Enemies Act to detain and deport alleged members of a foreign gang unconstitutional.

• Pierre Bienna May (04:00): "A federal judge in Texas has ruled President Trump's use of the Alien Enemies act to detain and deport alleged members of a foreign gang unlawful... It's the first direct ruling against Trump's use of the Alien Enemies Act."

The judge highlighted that the government cannot detain individuals based solely on the 18th-century law, although other immigration laws remain applicable. The White House has yet to comment, reflecting cautious discretion ahead of the upcoming jobs report.

3. Economic Indicators: Unemployment and Market Resilience

Timestamp: 05:20 – 07:30

The report touches on rising unemployment claims and their potential impact on the economy.

• Pierre Bienna May (04:58): "Weekly filings for new unemployment benefits hit the highest level since February. In the last full week of April, 241,000 Americans sought jobless benefits..."

Despite the increase, analysts remain unconcerned as the rise is not drastic enough to trigger immediate alarm, especially given past fluctuations.

Market Performance:

Strong earnings from major tech companies like Microsoft and Meta Platforms uplifted the stock market, showcasing the durability of the "Magnificent Seven" tech giants amid tariff uncertainties.

• Pierre Bienna May (05:55): "US Stocks rallied, led by the NASDAQ composite, which gained roughly 1.5%. The Dow moved up 0.2%, and the S&P 500 gained just over 0.6%."

Notable Earnings:

• Amazon: Reported a 9% revenue growth to over $155 billion and profits exceeding $17 billion, surpassing Wall Street expectations despite new tariffs on Chinese imports.

  • Pierre Bienna May (06:00): "Amazon said its revenue grew by 9% in its first quarter to more than $155 billion, while its profit was over $17 billion."

• Apple: Achieved its highest March quarter revenue in over two years with a 5% increase to $95 billion, driven by accelerated smartphone and device purchases ahead of upcoming U.S. tariffs.

  • Pierre Bienna May (06:10): "The company said sales rose 5% to $95 billion ahead of analyst expectations."

4. Presidential Fleet Update: Interim Air Force One Secured

Timestamp: 07:30 – 09:40

President Trump accelerates efforts to secure a new presidential aircraft, dissatisfied with Boeing's delays in producing the new Air Force One jets.

• Pierre Bienna May (06:47): "President Trump is moving to refurbish a Qatari luxury aircraft... aiming to have the plane available for use by this fall."

• Andrew Tangle (07:30): "Producing the Air Force One presidential jets has been a privilege and honor and point of pride for Boeing... It might not prove as capable as the current vehicles."

Due to Boeing's ongoing delays and budget overruns in the new Air Force One project, the administration has commissioned L3Harris to retrofit a Boeing 747, aiming for operational readiness by year-end. This move reflects Boeing's strained relationship with the administration and potential reputational risks.

• Andrew Tangle (08:28): "If Boeing were to lose the contract, it would be a blow to Boeing's reputation."

5. Corporate Leadership: CEO Turnover and Work-Life Balance

Timestamp: 09:40 – 10:55

The episode highlights a significant trend of CEO departures and the shifting attitudes of emerging leaders towards work-life balance.

• Pierre Bienna May (09:40): "Chief executives are leaving their posts at a record pace this year... Over 2,200 CEOs bid farewell last year and more than 370 public company chiefs exited..."

Calum Borchers (10:13): "Some are dialing back their professional ambitions a little bit in the name of work-life balance."

Illustrating this trend, WSJ columnist Calum Borchers shares the story of Ryan Byer, a rising financial manager who chose to leave his principal position to focus on family life, reflecting broader generational shifts in career priorities.

6. Corporate Scandal: Kohl's CEO Dismissed

Timestamp: 10:55

The episode concludes with news of Ashley Buchanan's ousting as CEO of Kohl's following a board investigation that uncovered unethical business dealings.

• Pierre Bienna May (10:55): "Kohl's has fired its CEO, Ashley Buchanan, after a board investigation discovered he had instructed the company to enter into a highly unusual business deal involving a woman with whom he has had a romantic relationship."

This scandal underscores the increasing scrutiny on corporate governance and ethical standards within major retail companies.

Conclusion

The May 1, 2025 episode of WSJ What’s News provides a comprehensive overview of significant political reshuffles, legal challenges faced by the Trump administration, robust economic indicators amidst rising unemployment claims, strategic maneuvers in presidential assets, and notable trends in corporate leadership dynamics. Through expert insights and timely reporting, the episode captures the multifaceted events shaping the current socio-economic and political landscape.

For a deeper dive into these stories and more, tune into the full episode of WSJ What’s News.