The following is the transcript of the interview with Reps. Thomas Massie, a Kentucky Republican, and Ro Khanna, a California Democrat, that aired on “Face the Nation with Margaret Brennan” on Dec. 21, 2025.
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SHANGHAI, Dec 22 (Reuters) – China left benchmark loan prime rates (LPRs) unchanged for the seventh consecutive month in December on Monday, matching market expectations.
WHY IT’S IMPORTANT
The steady LPR fixings in December suggested that the authorities are not in a rush to deliver fresh monetary easing measures as the world’s second largest economy appears on track to hit Beijing’s growth target for the year.
Moreover, the central bank’s adoption of “cross-cyclical” policy adjustments, which aim to smooth out the impact of economic cycles, and record-low profit margins at lenders may give policymakers room to delay stimulus until next year, some market watchers said.
BY THE NUMBERS
The one-year LPR was kept at 3.00%, while the five-year LPR was unchanged at 3.50%.
In a Reuters survey of 25 market participants conducted last week, all participants predicted no change to either of the two rates.
CONTEXT
At this month’s the annual Central Economic Work Conference (CEWC), Chinese leaders pledgedto maintain a “proactive” fiscal policy next year that would stimulate both consumption and investment to maintain high economic growth, which analysts expect Beijing to target at roughly 5%.
China’s economy stalled in November, with factory output and retail sales growth slowing as a lingering property crisis hit consumer and business sentiment. New bank loans also rose less than expected, weighed down by a sharp slowdown in household borrowing.
KEY QUOTES
** BARCLAYS
“The CEWC reiterated ‘growth stabilisation and reasonable price increases as the main considerations for monetary policy’ … adding the need to ‘flexibly and efficiently’ use various policy tools such as reserve requirement ratio (RRR) and interest rate cuts.
“We continue to see a 10-basis-point cut in the policy rate, though with somewhat reduced probability, and a 50bp RRR cut in the first quarter of 2026 to facilitate the front-loading of government bond issuance.”
** NOMURA
“We expect Beijing to continue ramping up fiscal measures to arrest the ongoing slowdown … We also expect one 10bp rate cut and a 50bp RRR cut in the second quarter of 2026.”
(Reporting by Shanghai Newsroom; Editing by Christopher Cushing and Shri Navaratnam)
By Siddharth Cavale
NEW YORK, Dec 21 (Reuters) – CBS News pulled a “60 Minutes” report on El Salvador’s CECOT prison just hours before its scheduled Sunday broadcast, saying it would air at a future time.
“The broadcast lineup for tonight’s edition of 60 Minutes has been updated,” the program posted on social media. “Our report ‘Inside CECOT’ will air in a future broadcast,” the program posted on X and other social media platforms three hours before it was slated to air.
A CBS News spokesperson said in an email that the segment “needed additional reporting.”
CBS removed a link to the “Inside CECOT” segment page on Sunday. The page, which previously featured a trailer, now displays “The page cannot be found” message. However, a description on its Paramount Plus website earlier said the segment was scheduled to air at 7:30 p.m. ET Sunday, with correspondent Sharyn Alfonsi speaking to recently released deportees about the “brutal and torturous” conditions they had endured in the prison.
The decision comes even as the network goes through changes under Editor-in-Chief Bari Weiss, who was picked to lead CBS News in October after CBS parent company Paramount Skydance acquired the online publication she founded, The Free Press.
Weiss, a former New York Times and Wall Street Journal opinion writer, was considered a controversial choice as she had never managed a television newsroom or produced broadcast news content before. On December 10 she named Tony Dokoupil as the new anchor of its flagship “CBS Evening News” segment, replacing the dual anchor team of John Dickerson and Maurice DuBois.
CECOT is a mega-prison in El Salvador where the U.S. has sent hundreds of mostly Venezuelan migrants without trial. It has been condemned by human rights groups for its harsh conditions.
(Reporting by Siddharth Cavale; editing by Diane Craft)
NEW YORK, Dec 21 (Reuters) – A photo of U.S. President Donald Trump that had been removed from the cache of Jeffrey Epstein files released by the Department of Justice was restored on Sunday after officials determined none of Epstein’s victims were in the image, the department said.
The photo showing a desk with an open drawer containing a photo of Trump with various women was flagged by the Southern District of New York for review to protect potential victims.
“After the review, it was determined there is no evidence that any Epstein victims are depicted in the photograph, and it has been reposted without any alteration or redaction,” the Justice Department said on X on Sunday.
Deputy Attorney General Todd Blanche said earlier on Sunday his office removed the photo because of concerns about women in the photo. “It has nothing to do with President Trump,” Blanche said during a Sunday morning appearance on NBC’s “Meet the Press with Kristen Welker.”
The Justice Department released thousands of documents on Friday related to Jeffrey Epstein, a convicted sex offender who committed suicide in 2019. But it has drawn criticism, including from some Republicans, over extensive redactions and few documents mentioning Trump despite his well-publicized friendship with Epstein.
During an ABC News interview on Sunday, Democratic House Minority Leader Hakeem Jeffries called for a “full and complete investigation as to why the document production has fallen short of what the law clearly required.”
Up to 16 photos, including the desk drawer Trump image, were removed on Saturday from the Justice Department website, according to The New York Times, NPR and the Associated Press, although Reuters could not independently confirm the removals.
The Justice Department said on Sunday it acted with an abundance of caution after receiving requests from alleged victims and their lawyers to remove information.
Trump has not been accused of wrongdoing and has denied knowing about Epstein’s crimes.
(Reporting by Siddharth Cavale and Helen Coster in New York; Editing by Sergio Non and Chris Reese)
By Wayne Cole
SYDNEY, Dec 22 (Reuters) – Asian share markets rose on Monday tracking tech-driven gains on Wall Street, while the yen wallowed at all-time lows against the euro and Swiss franc as higher interest rates at home did nothing to deter speculative sellers.
Turnover was sparse in what is a holiday-shortened week for much of the world but the path of least resistance was higher ahead of delayed data that is forecast to show the U.S. economy had continued to grow strongly in the third quarter.
Median forecasts tip annualised growth of 3.2%, due in part to a sharp pullback in imports after a run-up earlier in the year ahead of the introduction of tariffs.
Yet analysts at BofA had some words of caution, noting their measure of investor sentiment had moved into extreme bullish territory at 8.5, often a prelude to a reversal.
“Readings above 8.0 have often preceded pullbacks, with global equities declining a median 2.7% over the following two months, with a 63% hit rate,” they wrote in a note.
“Sentiment data reinforce the cautionary signal: the Fund Manager Survey shows most bullish sentiment in 3-1/2 years, driven by expectations of rate, tariff, and tax cuts.”
For now the fear of missing out seemed to be greater and S&P 500 futures added another 0.2%, with Nasdaq futures up 0.3%.
Japan’s Nikkei climbed 1.5%, extending Friday’s bounce as a steep decline in the yen promised to boost export earnings for Japanese corporates.
The yen selloff came as the Bank of Japan raised rates to a 30-year high of 0.75%, putting heavy selling pressure on government debt.
Minutes of the BOJ meeting are due on Wednesday, while the head of the central bank speaks to a Japanese business lobby on Christmas Day.
ON INTERVENTION WATCH
The yen touched a fresh record trough on the euro at 184.90, and on the Swiss franc at 198.08. The dollar was up at 157.67, though investors were wary of testing the November peak of 157.90 in case that triggered intervention from Tokyo.
Japan’s chief currency official duly signalled their concern about one-way moves and warned of appropriate action against an excessive decline.
A break of 158.00 higher would target the 2025 top of 158.88, and then the 2024 high at 161.96. The dollar was otherwise steady on a basket of currencies at 98.725, having gained 0.3% on Friday.
MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.3%, while South Korea jumped 1.8% on optimism over AI-related earnings.
Analysts at TD Securities noted equity markets recorded their highest weekly inflows on record at $98 billion last week, led by U.S. equity funds. Chinese equity funds saw their third largest weekly inflow of 2025, and emerging markets drew their largest inflows since April.
Flows to bonds, however, saw their fourth straight week of slowdown. Yields on Japanese 10-year debt rose another 2.5 basis points to the highest since 1999, while U.S. 10-year yields edged up to 4.157%.
Silver was again the star in commodities, reaching a fresh record at $67.48 per ounce and bringing gains for the year to almost 134%. Gold was up 0.6% on the day at $4,362 an ounce. [GOL/]
Oil prices gained after the U.S. intercepted a Venezuelan oil tanker over the weekend, and was pursuing another one in what would be the third such operation in less than two weeks. [O/R]
Brent firmed 0.7% to $60.88 a barrel, while U.S. crude rose 0.7% to $56.89 per barrel.
(Editing by Stephen Coates)
WASHINGTON, Dec 21 (Reuters) – U.S. President Donald Trump on Sunday announced he is appointing Louisiana Governor Jeff Landry as the special envoy to Greenland.
“Jeff understands how essential Greenland is to our National Security, and will strongly advance our Country’s Interests for the Safety, Security, and Survival of our Allies, and indeed, the World,” Trump wrote in a post on Truth Social.
The White House and representatives for Landry did not immediately respond to requests for comment. It was not immediately clear whether Landry, who became governor in January 2024, would need to step down from his gubernatorial role.
(Reporting by Siddharth Cavale in New York, Arathy Somasekhar in Houston; Editing by Sergio Non and Stephen Coates)
Missed the second half of the show? White House National Economic Council Director Kevin Hassett, UNICEF Executive Director Catherine Russell and Archbishop Paul S. Coakley join.
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The Justice Department released thousands of new photos and records on Jeffrey Epstein on Friday, but at least 550 pages in the documents were fully redacted.
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By Nathan Layne
Dec 20 (Reuters) – Extensive redactions and the limited number of documents released related to convicted sex offender Jeffrey Epstein angered some Republicans and did little to defuse a scandal threatening the party ahead of 2026 midterm elections.
The Trump administration touted this week’s release of a cache of Epstein-related files as a show of transparency, but a handful of Republican lawmakers and right-wing media figures joined Democrats in blasting Friday’s disclosures as inadequate and possibly in violation of a law that prompted their release.
While the criticism fell short of a broader party backlash, it underscored that the Epstein controversy was far from being put to rest and was likely to linger into next year, when Republicans will be fighting to keep control of Congress.
The release of files, starting Friday and followed by a second, much smaller batch released Saturday, is intended to comply with a bipartisan law passed by Congress in November that mandated the disclosure of all Epstein files held by the Justice Department, despite a months-long effort to keep them sealed by U.S. President Donald Trump, who once counted Epstein as a close friend.
The new disclosure represented only a fraction of the total data the FBI and Justice Department have said they possess related to Epstein and was heavily redacted, including several documents or 100 pages or more that were entirely blacked out.
Also notable was the dearth of references to Trump, who had a well-publicized friendship with Epstein in the 1990s and early 2000s. Instead, the released files extensively featured former President Bill Clinton, a Democrat and political foe.
ADDING TO CONTROVERSY
Brian Darling, a Republican strategist and former Senate aide, said the limited disclosures would fuel conspiracy theories about Epstein as well as legitimate transparency concerns, potentially dampening turnout among Trump voters.
“The heavily redacted disclosures of the Epstein documents added more fuel to the fire of controversy,” Darling said. “This remains a political risk for all Republicans in swing seats going into the midterms.”
The U.S. Justice Department on Friday released some 300,000 pages of documents, photos, and other materials from the government’s investigations into Epstein, who died by suicide in a jail cell in 2019 as he faced federal charges of sex trafficking of minors.
The wealthy financier’s history of hobnobbing with prominent figures has fueled speculation about whether anyone in his social circle was involved with his alleged sexual activity. One person, British socialite Ghislaine Maxwell, has been convicted on Epstein-related charges to date.
The Epstein scandal resonates with much of Trump’s base because it reinforces their belief in a corrupt establishment — often labeled the “Deep State” — willing to protect itself at all costs, a narrative Trump has repeatedly promoted.
Rachel Blum, a political science professor at the University of Oklahoma, said the lack of fuller disclosures could erode support among some Trump backers, including young men who swung to him in 2024 in part over their distrust of government.
“He’s at risk of becoming the Deep State,” Blum said. “I think this has the potential to damage his credibility more than a lot of the other scandals he’s gone through.”
‘PEOPLE ARE RAGING AND WALKING AWAY,’ MTG SAYS
The Justice Department’s initial disclosure fell short of the law’s mandate that all investigative files involving Epstein be released by Dec. 19. The law allowed for records to be withheld or redacted if the information posed a threat to national security or identified victims of sexual abuse.
Deputy Attorney General Todd Blanche said on Friday that the deadline was missed due to the massive volume of data and the need for careful redactions to protect victims. He promised to release more files “over the next couple of weeks.”
Democrats criticized the administration for not releasing all the files and for the extensive redactions. Representative Ro Khanna of California, who co-authored the law requiring full disclosure, floated possible impeachment of Blanche and Attorney General Pam Bondi over the failure to release the files on time.
Representative Thomas Massie, a Republican from Kentucky who worked with Khanna on the legislation, said he, too, believed that Bondi was in violation of the law, warning in a post to X that she and others could face criminal charges in the future when the Justice Department was in Democratic hands.
Representative Marjorie Taylor Greene, a House Republican who split with Trump last month over her efforts to compel disclosure of the Epstein files, cited the failure to release all the documents as well as the heavy redactions as among actions she considered inconsistent with Trump’s Make America Great Again (MAGA) movement.
“People are raging and walking away,” she wrote on X.
Some conservative commentators also criticized the Justice Department’s decision not to disclose more.
Kyle Seraphin, a right-wing podcaster and former FBI agent, reposted an old X post by Bondi praising the Trump administration as the most transparent in history, saying, “One gets the feeling that this is tongue-in-cheek at this point…”
Owen Shroyer, a podcaster who was pardoned by Trump for his role in the Jan. 6, 2021, attack on the U.S. Capitol but has since become a critic of the president, said he believed the Justice Department was intentionally slow-walking disclosures.
“They covered up the Epstein Files. No other way to put it now,” Shroyer wrote on X after Friday’s release.
(Reporting by Nathan Layne in Wilton, Connecticut; Editing by Sergio Non and Nick Zieminski)
