One Year in Trump’s America, and the Fed’s Big Moment at the Supreme Court

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The Headlines 9 min 5 speakers 4 chapters transcribed 2 months ago
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What is the main topic discussed in this episode?

Vaughn Vreeland 0:00
Hey, it's Vaughn Vreeland from New York Times Cooking. Baking season is here.
Jonathan Swan 0:05
Almost any cake can be turned into a one-bowl cake. There's nothing better than a freshly baked croissant from my oven.
Vaughn Vreeland 0:11
Oh, my God. I could eat five billion of these. That is a brownie.
Tracey Mumford 0:15
Don't be afraid. This is so forgiving. These are deluxe cookies.
Vaughn Vreeland 0:20
At New York Times Cooking, we've got it all. We've got tips, recipes, videos for whatever you want to bake. So come bake with us at NYTCooking.com.
Tracey Mumford 0:31
From The New York Times, it's The Headlines. I'm Tracey Mumford. Today's Tuesday, January 20th. Here's what we're covering.
Donald Trump 0:43
My fellow citizens, the golden age of America begins right now.
Tracey Mumford 0:51
A year ago today, President Trump was sworn in for his second term.
Donald Trump 0:55
I return to the presidency confident and optimistic that we are at the start of a thrilling new era of national success.
Tracey Mumford 1:04
He promised a sharp right turn for the U.S., and The Times has been documenting how that has played out in all 50 states. In Arizona, a 200-acre site that was intended to be a battery factory sits vacant after Trump froze grants and loans for clean energy initiatives. While in West Virginia, the state is getting some of the $600-plus million the administration has put towards boosting coal-fired power plants. In Maryland, roughly 25,000 federal workers have lost their jobs — the highest total in the country — as Trump has slashed the government workforce. In Oklahoma, the United Arab Emirates committed $4 billion to build an aluminum processing plant near Tulsa, part of an effort by the administration to seek investments from the Middle East.
Tracey Mumford 1:54
At Children's Hospital Colorado, doctors have stopped prescribing hormone medications to transgender minors after Trump threatened to pull all federal funding. In Montana, fertilizer prices are up 20% year over year, a result of tariffs and the trade war with Canada. And in Florida, the state's large Cuban population has been rocked by a record number of deportations. More dispatches on how the president is reshaping life across the U.S. are at NYTimes.com. And today on The Daily, my colleagues take a look at Trump's influence around the world.

What are the top headlines introduced at the start of today’s episode?

Jonathan Swan 2:31
It's very hard to make long-term assessments about the American national interest right now, a year into the Donald Trump presidency. There are going to be areas where Donald Trump's approach to power extracts positive things for America. There are also going to potentially be costs and maybe even very significant costs to the way that he's acting on the global stage.
Tracey Mumford 2:59
Now, two other quick updates on the administration. The Times has gotten a copy of a text message Trump sent to the prime minister of Norway in which he gave a new reason for wanting the U.S. to acquire Greenland. Trump said that because he wasn't awarded the Nobel Peace Prize, quote, I no longer feel an obligation to think purely of peace. The message was shared by the Norwegian prime minister's office. The Norwegian leader later said he's explained to Trump multiple times that the Nobel is given out by an independent committee, not the Norwegian government. Trump's comments about the Peace Prize have added to the swirl of concern and confusion in Europe as Trump escalates his attempts to control Greenland, claiming it's critical for U.S.
Tracey Mumford 3:44
national security. In a brief interview with NBC News yesterday, he was asked if he would use force to seize the island. He replied, no comment. And Jerome Powell, the chair of the Federal Reserve, will be at the Supreme Court this morning for a case with enormous stakes for the central bank. Powell is expected to listen to oral arguments. about whether Trump has the authority to fire one of the Fed's governors, Lisa Cook. While the administration has accused Cook of mortgage fraud, she's not been charged with any crime. And the court initially ruled in October that she could stay in her post while the case played out. If the justices decide Trump can fire her, it would give him and future presidents more leeway to oust Fed officials at will, potentially eroding the independence of the institution.

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