The Most Toxic Relationship in Washington
The Daily
07/17/25
•30m
About
Comments
Featured In
During an Oval Office meeting with congressional Republicans a few days ago, President Trump showed off the draft of a letter that would fire Jerome H. Powell, the chair of the Federal Reserve.
It’s the latest chapter in a dysfunctional relationship that has major implications for the global economy.
Guest: Colby Smith, who covers the Federal Reserve and the U.S. economy for The Times.
Background reading:
- President Trump waved a copy of a draft letter firing Jerome H. Powell at a meeting in the Oval Office with House Republicans.
- Can Trump fire Powell? It’s likely that he lacks a case, legal experts say.
For more information on today’s episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday.
Photo: Tom Brenner/The New York Times
Unlock full access to New York Times podcasts and explore everything from politics to pop culture. Subscribe today at nytimes.com/podcasts or on Apple Podcasts and Spotify.
Previous Episode
Project 2025’s Other Project
July 16, 2025
•29m
During a congressional hearing yesterday, Republican lawmakers accused university leaders of failing to do enough to combat antisemitism on their campuses. That’s a claim that the university officials strongly rejected.
The hearing was the latest attempt by Republicans to use what they see as the growing threat against Jews to their political advantage. And it reflects a plan that was first laid out by the Heritage Foundation, the same conservative think tank that produced Project 2025.
That plan, known as Project Esther, may have once seemed far-fetched. Katie J.M. Baker explains how it has become a reality.
Guest: Katie J.M. Baker, a national investigative correspondent for The New York Times.
Background reading:
- Even before President Trump was re-elected, the Heritage Foundation, best known for Project 2025, set out to destroy pro-Palestinian activism in the United States.
- University leaders rejected Republican attacks, saying they were working to protect Jewish students but also free speech on their campuses.
For more information on today’s episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday.
Photo: Jared Soares for The New York Times
Unlock full access to New York Times podcasts and explore everything from politics to pop culture. Subscribe today at nytimes.com/podcasts or on Apple Podcasts and Spotify.
Next Episode
Congress Just Gave Away Its Power to Trump
July 18, 2025
•25m
Last night, President Trump achieved a major victory: persuading both chambers of Congress to cancel billions of dollars in spending that they had already approved.
In the process, the Republican-led Congress is giving President Trump the power that it, and it alone, is supposed to have.
Guest: Catie Edmondson, a congressional correspondent for The New York Times.
Background reading:
- Congress approved a White House request to claw back $9 billion for foreign aid and public broadcasting, sending the measure to the president.
- Here’s where the cuts threaten access to PBS and NPR.
For more information on today’s episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday.
Unlock full access to New York Times podcasts and explore everything from politics to pop culture. Subscribe today at nytimes.com/podcasts or on Apple Podcasts and Spotify.
If you like this episode you’ll love
Promoted