Morning Wire Trump’s Economy Roars & ICE Seeks Recruits | 7.31.25
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Jul 31, 2025 The U.S. economy surprises with a 3% GDP growth, challenging tariff worries and boosting consumer confidence. The Federal Reserve keeps interest rates steady, sparking debate on housing market impacts. Meanwhile, the Trump administration proposes repealing the EPA's endangerment finding, raising questions about its environmental reforms. Additionally, ICE launches a significant recruitment campaign funded by new legislation, aiming to enhance its operations against human trafficking. It’s a dynamic mix of economic insights and policy shifts!
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US Economy Outperforms Expectations
- U.S. GDP grew 3% in Q2, beating the 2.3% prediction and rebounding from a Q1 shrink.
- Consumer spending and confidence rose, showing resilience despite tariffs fear earlier this year.
Fed Holds Rates Amid Low Inflation
- The Fed held interest rates at 4.25-4.5% despite low inflation, defying Trump's calls to cut.
- Fed Chair Powell seeks more proof tariffs won't raise inflation before lowering rates.
EPA Endangerment Finding Faces Repeal
- The Trump administration aims to repeal the EPA's 2009 endangerment finding, which allows regulation of greenhouse gases.
- Supreme Court rulings now limit EPA's regulatory authority, making the endangerment finding potentially unconstitutional today.