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Chapter 1: What is the main topic discussed in this episode?
Live from NPR News, I'm Dale Willman.
Chapter 2: What recent actions has the Federal Reserve taken regarding interest rates?
Federal Reserve Chair Jerome Powell says the Justice Department has served the central bank with subpoenas and threatened the central bank with a criminal indictment. At issue is Powell's testimony about building renovations at the Fed. But in a video statement released Sunday, Powell says the real issue is Trump's efforts to control the nation's interest rates.
The threat of criminal charges is a consequence of the Federal Reserve's setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the president.
This is about whether the Fed will be able to continue to set interest rates based on evidence and economic conditions, or whether instead monetary policy will be directed by political pressure or intimidation.
The Fed is an independent agency Trump has repeatedly attacked for not lowering key interest rates more quickly. President Trump has not yet been able to convince oil company executives that they should return to Venezuela to tap into that country's massive oil reserves. Ampere's Mark Liason has more.
President Trump has claimed that U.S. oil companies are ready to spend $100 billion or more to rebuild Venezuela's oil industry. But on Friday, when the president met with U.S. oil executives at the White House, not all of them were as enthusiastic as Trump. The CEO of Exxon told the president that at this time, Venezuela is, quote, uninvestable.
Venezuela has the world's largest crude oil reserves, but its infrastructure has deteriorated since it nationalized its oil industry 20 years ago. and expelled most American oil companies operating there at the time. Mara Liason, NPR News.
The European Union's top defense official says it's time for the bloc to set up its own Security Council. As Terry Schultz reports, the EU's commissioner says the uncertainty of Europe's relationship with the U.S. makes such a move much more urgent.
EU Defense Commissioner Andreas Kubilius says Europe is under pressure, mentioning the new U.S. security strategy, which de-emphasizes the transatlantic relationship, President Trump's intervention in Venezuela, and his intention to take over Greenland.
The times of Pax Americana is over. We need to be defense-ready inside NATO, but with much less American presence in Europe.
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Chapter 3: How is President Trump's influence affecting U.S. oil companies' decisions?
Andrea Bocelli will join Mariah Carey during the event on February 6th. It will also feature the parade of athletes along with other entertainment. A tribute to the late fashion designer Giorgio Armani is also planned for the opening ceremonies. I'm Dale Willman, NPR News.