The Office Renovation at the Heart of Trump’s Campaign Against Powell

WSJ What’s News

The Wall Street Journal

News, Daily News

4 • 4K Ratings

🗓️ 17 July 2025

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

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Summary

P.M. Edition for July 17. Legal experts are dubious that President Trump could remove Fed Chair Jerome Powell—though the president has said he isn’t planning to. But as WSJ chief economics correspondent Nick Timiraos points out, Trump’s advisers are seizing on a renovation of the Federal Reserve’s Washington, D.C. headquarters to undermine public trust in Powell. Plus, China has threatened to block the sale of two Panama Canal ports unless its state-owned shipping company can be a part of it. WSJ reporter Jack Pitcher discusses China’s leverage, and what the U.S. makes of it. And Republican lawmakers are making a surprising push to protect unauthorized immigrants. WSJ congressional reporter Olivia Beavers explains why. Alex Ossola hosts. Sign up for the WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Race the rudder, raise the sails, raise the sales!
0:05.0	Captain, an unidentified ship approaching. Over.
0:07.0	Roger that. Wait, is that an enterprise sales solution?
0:13.0	Reach sales professionals, not professional sailors.
0:17.0	With LinkedIn ads, you can target the right people by industry, job title, and more.
0:21.4	To get £100 off your first campaign, go to LinkedIn.com slash lead to claim your credit.
0:26.6	That's LinkedIn.com slash lead. Terms and conditions apply.
0:33.7	How a building renovation is at the center of President Trump's effort to oust Fed Chair.
0:39.5	This is a credible threat to possibly try to remove the Fed chair.
0:43.4	This could be a pretext to try to fire Powell and say, well, this isn't over interest rates.
0:47.3	This is over mismanaging your building costs.
0:49.8	Plus, why some Republican lawmakers are pushing to protect unauthorized immigrants.
0:54.9	And China is threatening to block the sale of Panama Canal ports
0:58.7	unless its shipping giant can get in on it.
1:01.6	It's Thursday, July 17th.
1:03.7	I'm Alex O'Soulaf for the Wall Street Journal.
1:06.0	This is the PM edition of What's News,
1:08.5	the top headlines and business stories that move the world today.
1:16.5	We kick off this evening show with some business news. Meta platform's shareholders who brought
1:21.8	a data privacy case against current and former meta officials have agreed to settle, ending the
1:27.2	trial on its second day.
1:29.0	The settlement means high-profile meta executives and board members will avoid testifying
	...

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