Transcript of Fed Cuts Rates & China’s Nuclear Arsenal | Afternoon Update | 12.18.24

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I'm Georgia Howe with Daily Wire Editor-in-Chief John Bickley. It's Wednesday, December 18th, and this is your Morning Wire afternoon update. The Federal Reserve has announced its third consecutive interest rate a 25 basis point reduction. This move lowers the federal funds rate to a target range of 4.25% to 4.5%, following similar reductions in November and September. The Federal Open Market Committee says inflation is trending downward but remains above its 2% target, while unemployment has ticked up. The Fed says it remains focused on balancing risks to employment and inflation as uncertainty clouds the economic outlook.

As sightings of unidentified drones continue on the East Coast, the FBI is warning residents against pointing lasers at them.

Daily Wire reporter Tim pierce has the latest.

Officials say these actions could have deadly consequences. Pilots of manned aircraft in the area have already reported having lasers shined in their eyes after being mistaken for drones by those on the ground. The Pentagon and federal agencies say there's no evidence these drones pose a national security threat. Still, lawmakers are pressing for more transparency to address the public's concerns, as the FBI has logged over 5,000 drone sightings in recent weeks. The FBI's statement, along with yesterday's classified briefing, have done very little to put the public at ease. Here's DOD Press Secretary Major General Patrick Ryder being asked about that.

Why does it have to be a classified briefing if these are just hobbyist drones? They're not military drones. Why is it a classified briefing on the Capitol Hill?

I'd have to refer you to Congress on that. Again, sharing as much information as we can here. I don't have the briefing in front of me, so I can't tell you specifically what aspects are classified or not. I I want to share you, though, that again, we are sharing as much information as we can based on what we know.

The House Ethics Committee has reportedly voted to release its findings from its investigation into former congressman Matt Gates. Gates, who resigned in November after briefly being named Trump's attorney general pick, faces long-standing sexual misconduct allegations which he denies. The Republican-led panel's secret vote occurred last month, and the report is expected by the end of the year.

The Pentagon says China has nearly tripled its nuclear arsenal since 2020. The Defense Department now estimates China has over 600 operational nuclear warheads compared to the low 200s just four years ago. China's rapid buildup aims to create a diversified nuclear Special Forces, ranging from low-yield missiles to intercontinental ballistic missiles. Officials warn the stockpile could exceed 1,000 warheads by 2030. Here's UK Special Forces' admiral, Sir Tony Radecan, issuing a similar warning China's growing stockpile earlier this month.

Since the end of the Cold War, every year from 1990 to 2022, there were fewer and fewer nuclear weapons in the world. In 2022, for the first time, that changed, and there were more such weapons at the end of the year than at the beginning, and that is due to China. That's obviously a reason to be very concerned about this. It's also that China is not transparent about what their plan is.

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A South African national who is illegally in the US has been arrested in New York City after being flagged on the terrorist watchlist. The individual was initially detained in Texas for trespassing, but later released by Border Patrol. Us officials say a subsequent investigation confirmed the person as a positive match on the terrorist watchlist, triggering a multi-agency arrest in Brooklyn. The illegal immigrant is now in custody awaiting removal.

President Biden's approval rating has taken another dive, sinking to an all-time low, while Trump's numbers continue to rise. A new national poll by Marquette Law School found that Biden now holds an approval rating of just 34% and disapproval of 66% among adults. That's the worst rating in the poll since he took office. Meanwhile, views of Trump's presidency climbed. Marquette found that 53% of adults now view his first term favorably, of three points since October.

And the Daily Wire-produced comedy Am I Racist? Was snubbed from the Oscar Shortlist despite its record-breaking box office success. Here with more as Daily Wire reporter, Amanda Presta-Shackamo.

Academy documentary, Branch members controversially left off Am I Racist? From the Oscar Shortlist, even though the film brought in more money than any other documentary this year by far. Am I Racist, which exposes the lucrative DEI industry, earned the third-highest opening date gross from a documentary in the last decade and was one of the most talked-about films of the year. The star of Am I Racist, Matt Walsh, called the snub a farce and criticized Hollywood for gatekeeping and resent Conservatives' success.

Those are your drive home updates this afternoon. To learn more about these stories, go to dailywire. Com. For more in-depth reporting on the biggest stories of the day, tune into our full episode of MorningWire every morning.