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Trump’s Economic Blitz & Fed Chair Showdown · The Ben Ferguson Podcast

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  Speaker 1: Well, come in is the Ben Ferguson Show. It is
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  Speaker 1: So for the next few days, that is what you're
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  Speaker 1: It's the forty seven Morning Update and it starts right now.
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  Speaker 1: This is the forty seven Morning Update, the new show.
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  Speaker 1: and yeah, take a listen to the big stories of
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  Speaker 1: very carefully. On behalf of the nation.
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  Speaker 2: You're listening to the forty seven Morning Update with Ben ferguson.
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  Speaker 1: Good Thursday morning. So nice to have you with us
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  Speaker 1: on the forty seven Morning Update. And here are the
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  Speaker 1: two big stories coming out of the White House that
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  Speaker 1: you need to know about. First up, as you're listening
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  Speaker 1: right now, it may have become a reality that the
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  Speaker 1: White House has got the passage of Trump's Big Beautiful
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  Speaker 1: Bill out of the House after getting a massive victory
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  Speaker 1: in the Senate. As I'm recording this at basically one
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  Speaker 1: am right now, Speaker of the House is saying we're
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  Speaker 1: looking to get it done within hours. We'll have the
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  Speaker 1: details on that for you as well. Now the President
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  Speaker 1: isn't done there when it comes to helping you the
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  Speaker 1: American taxpayer. We also now know that the President saying
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  Speaker 1: it's time for the FED Chair Jerome Powell to be gone,
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  Speaker 1: to resign and he's got two or three choices to
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  Speaker 1: replace the FED chairman, which could save Americans literally trillions
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  Speaker 1: of dollars in interest. I'll give you those details in
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  Speaker 1: a moment. It's the forty seven Morning Update, and it
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  Speaker 1: starts right now.
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  Speaker 2: Story number one.
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  Speaker 1: I just got off the phone moments ago with people
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  Speaker 1: on Capitol Hill who are telling me that by the
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  Speaker 1: time you hear this, there's a very good chance that
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  Speaker 1: the Big Beautiful Bill will have already passed the House
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  Speaker 1: of Representatives. Now I'm talking to you right now a
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  Speaker 1: little after midnight, and what I am being told is
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  Speaker 1: that the Speaker says we're going to get it done,
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  Speaker 1: and that means the President Donald Trump can do what
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  Speaker 1: he wanted to do, sign this by July fourth. The
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  Speaker 1: White House saying they're closing in on the House passage
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  Speaker 1: of Trump's Big Beautiful Bill as well at this hour
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  Speaker 1: is I just spoke with someone within the White House
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  Speaker 1: staff that says we are very close to this becoming
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  Speaker 1: a reality. The White House indicating that it is making
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  Speaker 1: major progress, closing in on the present's top priority and
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  Speaker 1: getting it quote to his desk by Independence Day. We
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  Speaker 1: also know that Representative Ralph Norman, the Republican from South Carolina,
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  Speaker 1: had suggested quote that the White House is making progress
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  Speaker 1: closing the deal on the Trump backed bill, saying, quote
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  Speaker 1: the White House enlightened many Republican holdouts on how it's
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  Speaker 1: implementation of the Big Beautiful Bill would accomplish what they want,
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  Speaker 1: but wouldn't give spec pa cifix moving forward as they're
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  Speaker 1: trying to keep things quiet and not be fought within
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  Speaker 1: the media. Meredith Lee Hill, a congressional reporter also with Politico,
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  Speaker 1: is reporting the House Speaker Mike Johnson had stated that
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  Speaker 1: the House of Representatives was going to get the bill
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  Speaker 1: there quote unquote tonight, adding that they were working on
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  Speaker 1: it and very very positive about the progress that's being made.
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  Speaker 1: Representative Andy Harris, a Republican from Maryland, also indicated that
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  Speaker 1: it was quote a possibility that the House would still
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  Speaker 1: vote today on the bill. That according to another congressional
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  Speaker 1: reporter for punch Bowl News, So you put all of
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  Speaker 1: this together, and what the reality now is is that
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  Speaker 1: Trump could be within hours of having his Big Beautiful
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  Speaker 1: Bill passed, after he successfully secured the Senate passage of
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  Speaker 1: the bill on Tuesday after an all night amendment voter
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  Speaker 1: rama which lasted a record twenty have an hour, something
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  Speaker 1: we covered on the show as well yesterday. We know
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  Speaker 1: that the President was thrilled to secure the Senate passage
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  Speaker 1: of the bill after that all non amendment voter rama,
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  Speaker 1: and he was happy that Vice President jd Vance was
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  Speaker 1: able to cast that tie breaking vote in a victory
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  Speaker 1: for Trump that was well, so close but also so
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  Speaker 1: sweet and as good as it gets right now in Washington, DC.
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  Speaker 1: So here we are after midnight, and the reality is
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  Speaker 1: President Donald Trump is delivering on his biggest campaign promise
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  Speaker 1: to date. We also know this the President is also
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  Speaker 1: moving on to other major issues now.
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  Speaker 2: Story number two.
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  Speaker 1: Donald Trump is calling for the FED chair Powell to
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  Speaker 1: quit quote immediately. Trump is ramping up the pressure on Powell,
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  Speaker 1: urging lower interest rates against the Federal Reserve chairs continued
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  Speaker 1: opposition the president, making it clear that it's time for
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  Speaker 1: him to quote resign. In a true Social post on
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  Speaker 1: Wednesday in the late afternoon, Trump said too late, should
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  Speaker 1: resign immediately. He also linked to a Bloomberg story headline
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  Speaker 1: that says FED chair should be investigated by Congress. The
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  Speaker 1: FHSA head is now saying Powell was nominated by Trump
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  Speaker 1: to lead the Fed during the first administration. Joe Biden,
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  Speaker 1: who succeeded Trump as President, nominated him for a second term.
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  Speaker 1: His tenure as the FED chair is set to end
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  Speaker 1: May of twenty twenty six, and Trump is ramping up pressure,
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  Speaker 1: saying I don't want to wait on Jerome Powell's tenure
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  Speaker 1: to end, issuing a call for lower interest rates against
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  Speaker 1: the Federal Reserve Chair and continued opposition and calling out
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  Speaker 1: the failure of the Fed's monetary policy. For instance, earlier
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  Speaker 1: this week, Donald Trump posted this, Jerome too late. Powell
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  Speaker 1: and his entire board should be ashamed of themselves for
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  Speaker 1: allowing this to happen in the United States of America.
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  Speaker 1: They have one of the easiest yet most prestigious jobs
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  Speaker 1: in America, and they've failed, and they continue to do so,
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  Speaker 1: saying this, If they were doing their job properly, our
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  Speaker 1: country would be saving trillions of dollars in interest costs.
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  Speaker 1: The board just sits there and watches, so they are
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  Speaker 1: equally to blame. We should be paying one percent interest
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  Speaker 1: or better now. The post preceded Trump's SONI a letter
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  Speaker 1: to Powell urging him to lower interest rates. The White
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  Speaker 1: House Press Secretary Caroline Levitt told reporters on Monday. Pallis
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  Speaker 1: stated that the Fed's decision to hold off on dropping
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  Speaker 1: your interest rates owes much to concern about the possible
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  Speaker 1: impacts of quote tariffs on inflation that coming from CBS
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  Speaker 1: News Now reports say he's waiting to see how the
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  Speaker 1: Trump tearor policy quote plays out and what it ultimately
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  Speaker 1: does to the u US economy before making interest rate adjustments.
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  Speaker 1: Powell has specifically said he wants to see longer term impacts,
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  Speaker 1: if any, on consumer pricing. So I tell you that
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  Speaker 1: story to just make it very clear there could be
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  Speaker 1: some big changes coming very soon. But it also tells
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  Speaker 1: you about the confidence that the President has that by
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  Speaker 1: the time many of you hear this, he will already
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  Speaker 1: have the biggest tax cut that we've seen in our
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  Speaker 1: lifetime and turning it into a reality. So what does
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  Speaker 1: that mean moving forward, Well, it means we could see
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  Speaker 1: some pretty big changes here the present, even moving forward
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  Speaker 1: to say there are quote two or three choices to
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  Speaker 1: replace the FED chairman and saying on Tuesday, yes, I'm
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  Speaker 1: ready to go. When asked to board Air Force one,
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  Speaker 1: whether he has a top choice to succeed your own
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  Speaker 1: Pale Trump said exactly this, I have two or three
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  Speaker 1: top choices. He declined to give any further information, yet
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  Speaker 1: again showing how much Donald Trump's ready to move on.
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  Speaker 1: We also know that The Wall Street Journal reported last
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  Speaker 1: week that Trump is considering the former Fed Governor Kevin
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  Speaker 1: Walsh and National Economic Council Director Kevin Hassett as replacements. Also,
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  Speaker 1: Treasury Secretary of Scott Descent is also being pitched as
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  Speaker 1: a potential candidate. That according the Wall Street Journal, which
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  Speaker 1: also listed former World Bank President and FED Governor Christopher
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  Speaker 1: Waller as potential nominees. Now a courting the Wall Street Journal,
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  Speaker 1: Trump is toyed with the idea of selecting and announcing
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  Speaker 1: a replacement as early as September or October. However, Thescent
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  Speaker 1: told Bloomberg TV on Monday that the Trump administration is
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  Speaker 1: considering using the next expected Federal Reserve Board of Governors
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  Speaker 1: vacancy in early twenty twenty six to appoint a successor. Now.
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  Speaker 1: Since returning to the White House in January, Trump has
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  Speaker 1: criticized Powell, as well as other Fed governors, for declining
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  Speaker 1: not to lower interest rates, which are currently in the
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  Speaker 1: four point twenty five to four point five to zero range.
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  Speaker 1: FED chairs have long seen as insulated from presidential dismissal
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  Speaker 1: for reasons other than malfeasan's or misconduct. That Trump is
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  Speaker 1: threatened to test the legal premise with frequent threats to
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  Speaker 1: fire Jerome Powell. Now Supreme Court ruling in May by
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  Speaker 1: the way, he's concerns that Trump could fire Powell, as
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  Speaker 1: the Justice called the FED quote a uniquely structured quasi
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  Speaker 1: private entity. So that leaves us at this point where
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  Speaker 1: the president's clearly saying he believes Jerome Powell and his
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  Speaker 1: board are the wrong people for the job, and he
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  Speaker 1: wants to move as quickly as possible to move the
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  Speaker 1: country in the right direction. He also has made it
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  Speaker 1: clear that lower interest rates save you countless dollars in interests,
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  Speaker 1: something that's good he believes for the economy. So if
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  Speaker 1: you want to know what's happening right now at the
• 12:00
  Speaker 1: White House, it's pretty clear the present's getting ready for
• 12:04
  Speaker 1: a very big Fourth of July celebration, and it's one
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  Speaker 1: that is going to give you a huge advantage in
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  Speaker 1: your pocket book. And he's not done there. He's also
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  Speaker 1: now looking to lower interest rates for you as well,
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  Speaker 1: and that is exactly what the America First Agenda that
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  Speaker 1: Donald Trump promised you looks like as we go into
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  Speaker 1: the fourth of July.
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