
News Wrap: Federal Reserve governor to resign early
Clip: 8/1/2025 | 6m 15sVideo has Closed Captions
News Wrap: Federal Reserve governor to resign early, giving Trump an opening to fill
In our news wrap Friday, Federal Reserve Governor Adriana Kugler resigned early, giving President Trump a position to fill, Epstein accomplice Ghislaine Maxwell has been moved from a federal prison in Florida to one in Texas, Russia launched its deadliest air assault on Kyiv in over a year and El Salvador will lengthen presidential terms to six years and remove term limits.
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Major corporate funding for the PBS News Hour is provided by BDO, BNSF, Consumer Cellular, American Cruise Lines, and Raymond James. Funding for the PBS NewsHour Weekend is provided by...

News Wrap: Federal Reserve governor to resign early
Clip: 8/1/2025 | 6m 15sVideo has Closed Captions
In our news wrap Friday, Federal Reserve Governor Adriana Kugler resigned early, giving President Trump a position to fill, Epstein accomplice Ghislaine Maxwell has been moved from a federal prison in Florida to one in Texas, Russia launched its deadliest air assault on Kyiv in over a year and El Salvador will lengthen presidential terms to six years and remove term limits.
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Providing Support for PBS.org
Learn Moreabout PBS online sponsorshipAMNA NAWAZ: The day's other headlines start with a resignation at the Federal Reserve.
Fed Governor Adriana Kugler announced today she's stepping down early.
That leaves President Trump a position to fill on the Central Bank's powerful board.
Kugler's term would have ended in January.
Instead, she's leaving next Friday.
Kugler did not offer a reason in her resignation letter, writing that she's -- quote -- "proud to have tackled this role with integrity."
This comes as President Trump continues to attack Fed Chair Jerome Powell over his decision not to lower the Central Bank's short-term interest rate.
Markets slumped today after the weak jobs report and President Trump's new tariffs threats.
The Dow Jones industrial average plummeted by more than 500 points.
The Nasdaq suffered the sharpest drop on the day, losing more than 2 percent.
The S&P closed lower to round out Wall Street's worst day since may.
Convicted sex trafficker and Jeffrey Epstein's accomplice, Ghislaine Maxwell, has been moved from a federal prison in Florida to one in Texas.
Both the federal Bureau of Prisons and her attorney confirmed the move to the minimum security facility, but didn't explain why.
Maxwell was sentenced to 20 years in jail for helping Epstein sexually abuse underage girls, a case with renewed interest over President Trump's former relationship with Epstein.
Justice Department officials interviewed Maxwell at a Florida courthouse last week, and her lawyer has urged the president to pardon her.
Turning overseas now, there was an official day of mourning today in Ukraine's capital city after Russia's deadliest air assault on Kyiv in over a year.
At least 31 people were killed in yesterday's attacks.
Mourners laid flowers at the memorial today and toys for the five children killed; 16 other children were injured.
Meanwhile, in Russia, President Vladimir Putin told reporters to keep expectations low when it comes to peace talks.
VLADIMIR PUTIN, Russian President (through translator): All disappointments arise from excessive expectations.
This is a well-known general rule.
It's necessary to conduct thorough talks to reach a peaceful settlement.
And it should be done calmly during the negotiation process and not in public.
AMNA NAWAZ: Putin's comments were seen by some as a veiled reference to President Trump's increasing frustrations.
Today, online, Mr. Trump escalated tensions, saying he had -- quote -- "ordered two nuclear submarines to be repositioned to appropriate regions," warning against more -- quote -- "foolish and inflammatory statements from Russia."
Trump has threatened to slap new sanctions on Russia unless it moves to end the war by the end of next week.
Lawmakers in El Salvador have approved constitutional changes that will lengthen presidential terms to six years and remove term limits.
ELISA ROSALES, Deputy, New Ideas Party (through translator): With this reform, we are giving power to those who should always have had it, which is the Salvadoran people.
AMNA NAWAZ: The party of President Nayib Bukele has a supermajority and quickly passed the changes, meaning he could seek reelection indefinitely.
Critic says Bukele is removing checks on the presidency in order to consolidate power.
He has become widely popular for cracking down on gang violence in El Salvador, though human rights groups have condemned his tactics.
Back here at home, the Corporation for Public Broadcasting, which has for decades distributed federal funds to both PBS and NPR, announced today that it's shutting down.
That is after President Trump recently clawed back more than a billion dollars of funding for public broadcasting.
In a statement, CPB's president said: "Despite the extraordinary efforts of millions of Americans who called, wrote and petitioned Congress, we now face the difficult reality of closing our operations."
PBS and its stations get around 15 percent of annual revenue from federal money.
Parts of the mid-Atlantic are bracing for more heavy rain this evening after downpours yesterday triggered floods, killing one person.
New Jersey officials declared a state of emergency, as roads flooded across the state stranding drivers.
In New York's Grand Central Station, water from heavy rains poured over commuter trains.
And outside of Baltimore, authorities say a boy playing outside was killed when floodwaters swept him into a storm drain.
In Washington, D.C., the Smithsonian's National Museum of American History has temporarily removed all references to President Trump's impeachments from an exhibit about presidential power.
That exhibit features materials about the Watergate scandal and the impeachments of Presidents Andrew Johnson and Bill Clinton.
But mentions of Mr. Trump's two impeachments were taken down last month.
The White House has repeatedly targeted interpretations of American history.
The Smithsonian said the references will be restored once the exhibit is updated following a review.
And gone are the days of the chain gang in the NFL.
The first down line has gotten a serious upgrade.
At last night's pre-season game, the league debuted new technology that measures the 10-yard target virtually.
It relies on a network of 8K cameras to track the ball's position.
It's the very same technology used in tennis grand slams.
The NFL said the system will save time compared to the old process where referees would mark the distance manually with a 10-yard chain.
The trusty chain crew will still be on the sidelines, but only as a backup.
Still to come on the "News Hour": we examine the president's ongoing effort to reshape the White House in his image; David Brooks and Jonathan Capehart weigh in on the week's political headlines; and photographer Platon speaks with a renowned Pakistani filmmaker about gender inequality.
Brooks and Capehart on Trump's firing of jobs report chief
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Clip: 8/1/2025 | 11m 5s | Brooks and Capehart on Trump's firing of labor statistics head after weak jobs report (11m 5s)
NTSB reveals details on mid-air collision that killed 67
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Clip: 8/1/2025 | 4m 51s | What NTSB hearings revealed about the Washington mid-air collision that killed 67 (4m 51s)
Renowned Pakistani filmmaker on fighting gender inequality
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Clip: 8/1/2025 | 3m 49s | Renowned Pakistani filmmaker on fighting gender inequality (3m 49s)
Tariffs will help improve 'broken' global economy, Cass says
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Clip: 8/1/2025 | 8m 32s | Tariffs will help improve 'broken global economic situation,' economist Oren Cass says (8m 32s)
Trump's effort to reshape the White House in his image
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Clip: 8/1/2025 | 4m 31s | A look at Trump's effort to reshape the White House in his image (4m 31s)
U.S. whistleblower describes what he saw at Gaza aid sites
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Clip: 8/1/2025 | 13m 23s | Security contractor says he witnessed ‘barbaric’ and un-American tactics at Gaza aid sites (13m 23s)
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Major corporate funding for the PBS News Hour is provided by BDO, BNSF, Consumer Cellular, American Cruise Lines, and Raymond James. Funding for the PBS NewsHour Weekend is provided by...