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The Ben Ferguson Podcast

Trump’s July 4th Power Play w Bill Passage & Fed Pressure

The Ben Ferguson Podcast

iHeartPodcasts

Politics, News, News Commentary

4.94.7K Ratings

🗓️ 3 July 2025

⏱️ 11 minutes

🧾️ Download transcript

Summary

🏛️ Legislative Update: The “Big Beautiful Bill”

  • The bill, strongly backed by Trump, is reportedly on the verge of passing the House of Representatives, having already passed the Senate after a marathon 27-hour amendment session.
  • Trump aims to sign the bill by July 4th, aligning with his campaign promises.
  • Key Republican figures and congressional reporters confirm momentum and optimism around the bill’s passage.
  • The bill is described as potentially the largest tax cut in recent memory.

💼 Federal Reserve and Jerome Powell

  • Trump is publicly pressuring Fed Chair Jerome Powell to resign immediately, criticizing the Fed’s refusal to lower interest rates.
  • He accuses Powell and the Fed Board of failing in their duties, claiming they are costing the country trillions in interest.
  • Trump has hinted at having “two or three” candidates in mind to replace Powell, including:
    • Kevin Warsh (former Fed governor)
    • Kevin Hassett (former NEC Director)
    • Scott Desantis (Treasury Secretary)
    • Christopher Waller (former World Bank President and Fed governor)
  • Trump may announce a replacement as early as September or October, or wait until a 2026 Fed Board vacancy.

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Transcript

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0:00.0

This is an IHeart podcast.

0:06.1

And we'll not allow ICE to arrest criminal aliens in New York City.

0:09.9

Your message to communist Zohan Mandami.

0:12.5

Well, then we'll have to arrest him.

0:14.3

Look, we don't need a communist in this country.

0:16.8

But if we have one, I'm going to be watching over and very carefully on behalf of the nation.

0:20.5

You're listening to the 47 morning update with Ben Ferguson.

0:24.4

Good Thursday morning. So nice to have you with us on the 47 morning update.

0:29.2

And here are the two big stories coming out of the White House that you need to know about.

0:33.9

First up, as you're listening right now, it may have become a reality that the White

0:39.2

House has got the passage of Trump's big, beautiful bill out of the House after getting a massive

0:45.5

victory in the Senate, as I'm recording this at basically 1 a.m. right now. The Speaker of the House is

0:52.1

saying, we're looking to get it done within hours. We'll have

0:56.2

the details on that for you as well. Now, the president isn't done there when it comes to helping

1:01.9

you, the American taxpayer. We also now know that the president's saying it's time for the Fed chair,

1:08.1

Jerome Powell, to be gone to resign. And he's got two or three choices

1:12.8

to replace the Fed chairman, which could save Americans literally trillions of dollars in

1:18.9

interest. I'll give you those details in a moment. It's the 47 morning update, and it starts

1:25.2

right now. Story number one. I just got off the phone moments ago with people

1:29.7

on capitol hill who are telling me that by the time you hear this there's a very good chance that the

1:35.5

big beautiful bill will have already passed the house of representatives now i'm talking to you right now

1:41.2

a little after midnight and what i am being told is that the speaker

...

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