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00:00is that the Federal Reserve did cut those interest rates by a quarter of a percentage point
00:04and indicated it will steadily lower those borrowing costs for the rest of the year.
00:10Policymakers are responding to concerns about weakness in the job market
00:14in a move that has won support from most of Trump's central bank appointees.
00:19The only person who did decide to dissent on this, it is Muran.
00:23They are currently on leave as the head of the White House Council of Economic Advisors,
00:28dissenting in favor of a higher percentage point, half percentage point cut as well.
00:33And so ultimately, what we now know here, according to our partners at Reuters,
00:38the rate cut along with projections showing two more quarter percentage point reductions
00:43are anticipated at the remaining two policy meetings this year,
00:48indicating that Fed officials have begun to downplay the risk that the administration's trade policies
00:54will stoke persistent inflation and are now more concerned about weakening growth
00:59and the likelihood of rising unemployment.
01:02This cut is the first one that we've seen since last December.
01:07This now moves the policy rate to the 4 to 4.25 percent range.
01:12And so we'll continue to watch more about this.
01:15I wanted to make sure we showed this to you as well.
01:17The response that we're seeing there from the markets, this was announced at 2 o'clock p.m.
01:22Eastern time, even though this was anticipated all along, which is my, you may see the general green in the markets,
01:28but that spike hitting right at the 2 o'clock p.m.
01:30Eastern time hour when the Fed put this decision down.
01:34I want to show you this on the screen.
01:35This is what we're waiting on, set to get started in just about 15 minutes or so.
01:39We're going to be hearing from Fed Chair Jerome Powell.
01:43He's holding a press conference in the aftermath of this meeting, speaking and answering questions from reporters there in the room.
01:50So we'll keep our eye on this, take you out to it once it begins here on Live Now from Fox.
01:55In the meantime, like we promised before, we want to wait for a commercial break.
01:58We're going to be heading back out to one of the other major stories that we've been following,
02:02listening in to FBI Director Cash Fatale as he's answering questions from the House Oversight Committee.
02:08They've been discussing a number of different topics, including Epstein, as well as Charlie Kirk and political violence here in our country.
02:15Let's continue to listen in to this here on Live Now from Fox.
02:23Everybody that comes to work at the FBI is allowed to have their own belief system,
02:27but they're not allowed to bring that belief system into the workplace.
02:29And anyone that does won't work at the FBI.
02:31Okay, very good.
02:35Now, recently, there's another potential scandal, I guess, a politically motivated thing, Arctic Frost.
02:43Do you want to comment on that?
02:46And it appears one more time is perhaps the FBI was getting involved in what would normally be considered political events.
02:59We are not getting involved in political events.
03:02Except this one.
03:03Okay.
03:04And final thing, with regard to prejudice against Catholics, what happened in the big Hindu temple there in New Jersey?
03:14Do you think, have you ever, has anybody ever apologized to the Catholic Church or apologized to that temple?
03:21I don't know, sir.
03:23Okay.
03:24Is that something you think would be perhaps a good idea to do in the future?
03:27I think leadership should address it.
03:30Gentlemen, time has expired.
03:32Gentlemen, he'll back the, um, oh, so we got the gentleman from North Carolina, Mr. Harris.
03:41All right.
03:41Thank you, Mr. Chairman.
03:42And thank you, Director Patel, for your endurance and your perseverance throughout today's hearing and for all you've shared.
03:51First of all, let me start by saying that I was very grateful and glad to see that the FBI has joined the investigation of the tragic and brutal murder of Irina Zarutska in Charlotte, which is just right by my district.
04:02This woman, as you know, fled the war in Ukraine only to be killed in cold blood by a man who had no business being on the streets whatsoever.
04:10This man who had been seen stabbing Irina to death on video, had been arrested 14 previous times, served prison time, and was diagnosed with a severe mental illness.
04:20In response to the previous offense, the magistrate, over his case, released him to roam the streets with a zero-dollar bond and a simple written promise to appear in court.
04:31Mr. Patel, let me just ask.
04:32Should judges apply the most lenient bail standards to people with extensive criminal history?
04:39Do they apply the most lenient?
04:41I'm sorry.
04:41Should they apply the most lenient bail standards to people with extensive criminal history?
04:46That has not been my experience.
04:47That should not happen.
04:48Is America a place where young women should fear to ride public transit?
04:53No.
04:54And was Irina Zarutska's death, would you say, possibly the result of Democrats' pro-crime policies?
05:00That investigation and matter is in open trial, so I don't want to stylize the evidence.
05:07I understand.
05:08Well, Mr. Patel, let me just say, taking over the FBI after the Biden administration's blatant weaponization of the agency is no easy feat, as we've recognized throughout this hearing today.
05:19For four years, we've witnessed the Biden administration targeting regular Americans rather than violent criminals.
05:25For example, the Biden administration's FBI spent its time and resources going after churches and Christians.
05:32We know that the FBI used an undercover agent to collect information about a parishioner.
05:37We know that the FBI investigated and surveilled a Catholic priest.
05:41And all of this was in response to First Amendment protected activity.
05:45Mr. Patel, I want to ask you.
05:47Should the FBI use its resources to spy on Catholics?
05:51Never.
05:52So what does it say about the culture of the Biden FBI that law enforcement resources were used to go after Catholics and some FBI employees were comfortable with taking such actions?
06:05Well, pursuant to my transparency initiative and working with Congress on oversight, those documents, that's it.
06:11Those documents are available for the American public to see and read and hold people accountable, and that's what I'm committed to.
06:16And so have you been able to hold accountable those at the FBI who went after law-abiding Catholic church members?
06:22If they did so improperly, yes.
06:25Well, I've been a pastor for 36 years, and I've constantly stood up for life and stood up for family, missed a culture that's increasingly hostile to both of those things.
06:36And if the Biden administration targeted Catholics, could I have been targeted by the Ray FBI as well?
06:42Well, I don't know, but I'm not going to target you.
06:44Well, I know that President Trump respects religious liberty and that his administration is seeking to right the wrongs of the Biden administration.
06:53Securing our freedoms and protecting faith leaders and communities requires a multi-pronged approach.
06:59What would you say in just the last few moments, what is the FBI under your leadership doing to make sure that our religious liberty and religious leaders can rest comfortable this evening?
07:10I mean, zealously protecting our First Amendment rights, but zealously going after those that abuse that right that leads to criminal conduct.
07:19You will be investigated.
07:21You will be looked at and referred to prosecution every single time the evidence warrants.
07:26Thank you, sir.
07:26One final area.
07:28I do want to draw attention, Mr. Patel, to Waxhaw, North Carolina, a town in my district that just fell victim to a cyber attack on September 12th that interrupted emergency services.
07:39Waxhaw is working with state partners, and the FBI has been notified on this attack, and I certainly pray they're able to help out with the ongoing investigation.
07:47Could you just speak to what the FBI is doing to bolster our community's cybersecurity to defend against any future cyber attacks?
07:55Well, in North Carolina, you're slated to get a plus-up of 22 FBI employees, and they're already on the way, and that encompasses cyber excitement.
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