The Megyn Kelly Show
Inflation Report Beats Expectations, Dems Face Shutdown Pressure, Trump Warns Russia: AM Update 3/13
Thu, 13 Mar 2025
The White House touts a better-than-expected inflation report and three weeks of declining gas prices. Democrats are in disarray as they decide whether to vote on the continuing resolution or allow the government to shut down. U.S. officials are traveling to Russia to discuss the next steps in the peace process as President Trump signals a willingness to apply economic pressure on Moscow. The Department of Education announces a 50% reduction in its workforce. Federal prosecutors are seeking to move Columbia University campus agitator Mahmoud Khalil's trial outside of SDNY.Birch Gold: Text MK to 989898 and get your free info kit on goldGrand Canyon University: https://GCU.edu
Chapter 1: What are the key points of the inflation report?
Good morning, everyone. I'm Megyn Kelly. It's Thursday, March 13th, 2025. And this is your AM Update.
I think the markets are going to soar.
There's tremendous optimism out there. The White House touting better than expected inflation numbers as markets shake in anticipation of further tariffs.
And I think that's one of our core responsibilities in the Senate or in the government here to ever allow the government to shut down.
Despite earlier tough talks, some Democrats balk at the prospect of a government shutdown. President Trump suggests he's ready to inflict economic pain on the Russians as Kremlin officials react coldly to calls for a ceasefire. All that and more coming up in just a moment on your AM Update.
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With an A-plus rating from the Better Business Bureau and countless five-star reviews, text MK to 989898 and let the experts at Birch Gold help you secure your future today with gold. Some good economic news for President Trump. The inflation rate declined more than expected in February, coming in at 2.8%, down from 3.0% in January.
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Chapter 2: How is the White House responding to economic conditions?
The core inflation rate, which excludes more volatile items like food and energy, also cooled to 3.1%, down from 3.2%. both figures coming in lower than analysts had predicted. The Federal Reserve's target rate for inflation is 2%. GasBuddy reporting the average price of gas dropping for the third straight week, now at $3.03 per gallon.
That's the lowest average price for gasoline in the month of March since 2021. President Trump reacting positively to the news from the White House.
I think the markets are going to soar. There's tremendous optimism out there about our country in terms of regulations being cut, in terms of taxes being cut. Oil is down to $65 a barrel, and that's faster than I would have intended. We put on the gas. We stepped in the gas in order to get oil.
A key piece of the Trump administration's economic plan, unlocking oil production. On his first day in office, Mr. Trump signing orders, increasing oil and gas drilling on public lands and offshore areas, reversing previous restrictions. Some additional context, putting the new economic numbers in perspective.
The only tariffs in place in February were the initial 10 percent duties on Chinese imports. Wednesday markets swinging wildly, the S&P 500 and Nasdaq ultimately rising as investors weigh a solid inflation report with anticipation of more expected tariff increases.
President Trump seated next to Irish Prime Minister Micheál Martin in the Oval Office, again signaling his trade war is just getting started.
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Chapter 3: What is the current status of the U.S. trade relations?
The EU was set up in order to take advantage of the United States.
Including Ireland?
Is Ireland taking advantage of the U.S. ? Of course they are. We had leaders that didn't have a clue. Or let's say they weren't business people, but they didn't have a clue what was happening. And all of a sudden, Ireland has, you know, our pharmaceutical companies. When the pharmaceutical companies started to go to Ireland, I would have said, that's okay if you want to go to Ireland.
I think it's great. But if you want to sell anything into the United States, I'm going to put a 200% tariff on you. So you're never going to be able to sell anything into the United States. You know what they would have done? They would have stayed here.
Next week, the Federal Reserve is set to announce a decision on interest rates. While President Trump has repeatedly called for the rates to be lowered, the Fed operates independently from the government. Last Friday, Fed Chair Jerome Powell saying they're in no hurry to make any adjustments, suggesting interest rates are likely to stay in their current range, 4.25 to 4.5 percent.
A new CNN poll shows Americans may be souring on the tariff wars, 61 percent of Americans disapproving of the use of tariffs compared to 39 percent who approve. Overall, on the economy, 56% say they disapprove versus 44% approving, worse than at any point during President Trump's first term in office.
The government shutdown deadline ticking even closer now as the Senate weighs this six month funding extension. The bill requires 60 votes to pass in the Senate, meaning some Democrat support is required. In the lead up to the House vote on Tuesday, Senate Dems talking tough, calling the bill horrible and a power grab by President Trump and Elon Musk.
Now, with the possibility of forcing a shutdown in their hands, some Dems are balking.
We don't agree with what's been sent to us. But, you know, if we withhold our votes, that is going to shut the government down. And I think that's one of our core responsibilities in the Senate or in the government here to ever allow the government to shut down.
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Chapter 4: How are Democrats handling the government shutdown threat?
We could wind up in a situation where maybe this administration decides to leave parts of the government that provide valuable services to the American people closed permanently.
Pennsylvania Senator John Fetterman telling reporters he will vote yes. The Hill reporting one unnamed Senate Democrat saying, quote, I can't say we have a strategy. There are a lot of people who haven't made a decision. Independent Senator from Maine, Angus King, who typically votes with the Democrats, telling the Washington Post, quote, it's a choice between two terrible alternatives.
Some Dems are worried a shutdown will backfire on them, allowing the Doge team to permanently shutter even more of the government. In a shutdown, non-essential employees are furloughed and essential employees continue working. The Post reporting some Dems argue a shutdown could allow Doge to more easily cut the employees deemed non-essential.
Democrat Senator from Virginia Tim Kaine leaving his options open, telling Politico he would like some amendments added to this bill. However, any additional amendments would need to be approved by the House, which is not likely to agree on anything that increases government spending. The deadline is 11.59 p.m. on Friday.
Senate Majority Leader Chuck Schumer saying his party is united, which is not true, and that right now the GOP does not have the votes to avoid a shutdown. Coming up, U.S. diplomats bringing an offer of peace to the Kremlin as President Trump suggests a willingness to ratchet up pressure on the Russians. And the Department of Education slashed by a whopping 50 percent.
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The Russian army is close to surrounding 10,000 Ukrainian troops in the Kursk region of Russia. Ukraine captured this bit of Russian territory last August, once floating the idea of exchanging it back for captured Ukrainian territory. Most of it, however, has been regained by Russia, but not all. In recent days, the Ukrainian hold on the area falling into serious jeopardy
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Chapter 5: What is the latest on U.S.-Russia relations?
We've got some conversations that are happening on the phone and in person with some of our representatives over the next couple of days. As the president said, we think that we're in a very good place where the Ukrainians have agreed to a ceasefire. And we're now going to see whether we can get the Russians to agree to a ceasefire, too.
We will keep the ceasefire considering that he's broken them in the past.
I haven't we haven't spoken to him yet with substance because we just found out and we just were able to get Ukraine to agree. So. We're going to know very soon. I've gotten some positive messages, but a positive message means nothing. This is a very serious situation.
Secretary of State Marco Rubio plainly laying out the stakes for both sides.
There is no military solution to this conflict. Neither side can militarily achieve their maximalist goals. Neither side can achieve them through the military side. The only way this conflict can end is through negotiation. That's the only way you're going to have peace.
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Chapter 6: What are the implications of the Department of Education's workforce reduction?
Special Envoy Steve Witkoff is traveling to Russia for in-person negotiations. In advance of his arrival, Kremlin officials responding coldly to the Ukrainian acceptance of a ceasefire. The Guardian reporting a Russian foreign ministry spokesperson as saying, quote, Moscow will make its own decisions about the war and not follow the lead set by Washington and Kyiv. The
Mr. Lavrov adding, quote, it is impossible to rely on the goodwill of opponents who have declared the goal of inflicting strategic defeat on Russia. Despite earlier Western criticism that President Trump was too lenient on Russia in negotiations, Mr. Trump now signaling a willingness to apply plenty of pressure, just as he did with Ukraine.
There are things you could do that that wouldn't be pleasant in a financial sense. I can do things financially that would be very bad for Russia. I don't want to do that because I want to get peace. But in a financial sense, yeah, we could do things very bad for Russia. It would be devastating for Russia. But I don't want to do that.
President Trump taking the most dramatic action yet to put an end to the Department of Education, slashing its workforce by 50 percent. The move marking a significant escalation in his longstanding push to reduce the federal government's size and specifically its role in education. The department enshrined in a law by Congress would require an act of Congress to be fully abolished.
But with a divided legislature, that battle could take years. In the meantime, Education Secretary Linda McMahon telling Fox exactly what was cut and what stays, at least for now.
We wanted to make sure that we kept all of the right people, the good people, to make sure that the outward facing programs, the grants, the appropriations that come from Congress, all of that are being met. And none of that's going to fall through the cracks. Congress appropriates the money that is going through Title I, through IDEA programs. What's that stand for? Well, do you know what?
I'm not sure I can tell you exactly what it stands for, except that it's the programs for disabled and needs.
Individuals with Disabilities Act. The administration insisting essential, congressionally mandated funding remains intact. Heads of the teachers unions arguing the cuts are an attack on public education.
It's a disaster symbolically as much as it's a disaster in reality. Think about a country whose president basically says as their first acts, I'm getting rid of education. Let's be clear. This administration is focused on destroying public education.
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