(18 Jul 2025)
RESTRICTION SUMMARY:
ASSOCIATED PRESS
Washington – 17 July 2024
1. SOUNDBITE (English) Chris Rugaber, The Associated Press:
++PARTIALLY COVERED++
“So we’ve been hearing a lot about interest rates lately. The fed has two goals that were given to it by Congress — stable prices and maximum employment. The Federal Reserve sets short term interest rates for the US economy, and those rates influence borrowing costs for consumers and businesses. When the fed cuts rates, over time it can make a mortgage or an auto loan or even credit card rates lower. The Fed adjusts its interest rate either to fight inflation, which it does by raising it, or to spur the economy in hiring, which it does by cutting its rate."
ASSOCIATED PRESS
ARCHIVE: San Francisco – 7 March 2022
++SPLIT IMAGE WITH SHOT 3++
2. Close up of the gas prices (left)
ASSOCIATED PRESS
ARCHIVE: New York – 6 August 2018
++SPLIT IMAGE WITH SHOT 2++
3. People on sidewalk of New York street (right)
ASSOCIATED PRESS
ARCHIVE: Washington – 31 July 2019
4. Various exteriors of U.S. Federal Reserve building
ASSOCIATED PRESS
ARCHIVE: Columbus, Ohio – 12 July 2023
5. Wide of cars outside dealerships
ASSOCIATED PRESS
Rialto, California – 17 July 2008
6. STILL of a Bank-Owned sign in front of a home in California (AP photo/Reed Saxon; ID: 080717023552)
ASSOCIATED PRESS
Denver – 28 November 2024
7. STILL of a long line of unsold 2024 Bronco utility vehicles sit on display at Ford (AP Photo/David Zalubowski; ID: 25191678213620)
ASSOCIATED PRESS
Atlanta – 28 November 2024
8. STILL of many credit cards (AP Photo/Mike Stewart; ID: 24058569950906)
ASSOCIATED PRESS
Washington – 17 July 2024
9. SOUNDBITE (English) Chris Rugaber, The Associated Press:
++PARTIALLY COVERED++
"So an independent Federal Reserve is important for the economy because it’s easier for an independent fed to do things like raise interest rates to fight inflation and keep prices in check. In 2021 and 2022, inflation rose after the pandemic, and it took significant interest rate hikes by the fed to bring it back under control. Many economists worry that if President Trump fires the chair of the Fed, Jerome Powell, then the Fed will start to cut rates because Trump wants them to. And that could lead inflation to get out of control. And that means more expensive groceries, potentially higher rent, and other things that Americans buy every day.
ASSOCIATED PRESS
ARCHIVE: Columbus, Ohio – 12 July 2023
10. Close of American flag
ASSOCIATED PRESS
ARCHIVE: North Palm Beach, Florida – 11 April 2023
11. Various of shoppers in a grocery store
ASSOCIATED PRESS
ARCHIVE: New York – 17 November 2020
12. Wide of people walking on sidewalk wearing masks
ASSOCIATED PRESS
Kerrville, Texas – 11 July 2025
13. STILL of President Trump standing while greeting first responders as he observes flood damage (AP Photo/Jacquelyn Martin; ID: 25192674552803)
POOL
ARCHIVE: Washington, DC – 22 June 2021
14. Jerome Powell speaking at a conference
ASSOCIATED PRESS
ARCHIVE: North Palm Beach, Florida – 11 April 2023
15. Various of shoppers in a grocery store
ASSOCIATED PRESS
San Francisco – 7 March 2022
16. ARCHIVE: Customer filling car with gas at a gas station
STORYLINE:
President Donald Trump says he’s found a way to achieve his goal of removing Federal Reserve Chair Jerome Powell, accusing him of mismanaging the U.S. central bank’s $2.5 billion renovation project.
Rugaber further explains the importance of having an independent Federal Reserve.
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Author: AP Archive
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