Friday 02.21.25

Senate Republicans took a major step to advance President Donald Trump's sweeping agenda early today, voting to adopt a budget blueprint that sets up a clash with House Republicans. The process of drafting the text of actual legislation is likely to be contentious and involve painstaking negotiations between the House and Senate that could stretch over months. Here's what else you need to know to Get Up to Speed and on With Your Day.
 

By Alexandra Banner

Elon Musk wields a chainsaw at the Conservative Political Action Conference. (Andrew Harnik/Getty Images)

Federal firings

Billionaire Elon Musk on Thursday used a chainsaw as a prop to tout his efforts to shrink the federal workforce in the Department of Government Efficiency, or DOGE. Musk waved it in the air at a conservative event, describing it as a "chainsaw for bureaucracy." He was asked repeatedly about his efforts to find waste and fraud in the federal budget, which he likened to throwing darts in a room full of targets. The Trump administration and Musk have insisted that they are carefully purging the federal workforce by firing only low-performing employees serving in non-critical roles, or recent hires on probationary status. However, CNN has found that the exact opposite is happening — recently promoted employees or people who have received strong performance reviews are among those who have been terminated.

Inflation

Stocks on Wall Street fell Thursday after Walmart warned inflation and tariffs could slow down sales for the year. The sour forecast from the world's largest retailer dragged down the Dow by more than 650 points, or 1.5%, before ending the day 451 points lower. The S&P 500 and Nasdaq Composite dropped by 0.43% and 0.47%, respectively, while Walmart's shares tumbled by more than 6.5%. Walmart's chief financial officer acknowledged "uncertainties related to consumer behavior and global economic and geopolitical conditions." This comes as a new CNN poll shows that 62% of adults nationwide say President Trump has not gone far enough in trying to reduce the price of everyday goods.

Ukraine

Amid a widening rift between Washington and Kyiv, Ukrainian President Volodymyr Zelensky said Thursday's meeting with a Trump envoy was "productive." This week, the long-fraught relationship between President Trump and his Ukrainian counterpart was on full display surrounding diplomatic efforts toward peace talks. Meanwhile, the US is resisting a reference to "Russian aggression" in a joint statement from the Group of Seven countries marking the third anniversary of Russia's invasion of Ukraine. Envoys from Washington have voiced concern about how the war is framed in the document. Trump has also suggested Russia be allowed to rejoin the G7 after it was ejected for annexing Crimea in 2014.

Guantanamo Bay

More than 170 Venezuelan migrants who were deported from the US to Guantanamo Bay in recent weeks were flown home on Thursday. Hundreds of migrants have been sent to the notorious base in Cuba as part of President Trump's migration crackdown, but they have since been mostly flown elsewhere after questions were raised over the legality of such an initiative. Senior Trump officials have said that Guantanamo Bay is reserved for the "worst of the worst," but new court filings reveal that not all those who are being sent to the facility are considered to pose a "high threat."

New iPhone

Apple launched its budget-friendly iPhone 16e for pre-sale in key markets today. The new smartphone, which costs $599 and is equipped with artificial intelligence, came in the same week that Chinese rival Huawei rolled out its flagship trifold phone in a rare launch event. Analysts say the mid-range pricing strategy aims to woo price-sensitive customers in countries like China and India and boost adoption in lower-end markets. But on a global scale, Apple still faces an uphill battle in luring new customers. Its smartphone sales have declined since peaking in 2022, and its global shipment share has fallen from 19.3% in 2023 to 18.2% last year, according to Counterpoint Research.

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3

That's how many empty buses exploded in a suspected terror attack near Tel Aviv on Thursday. In response, Israel's Prime Minister Benjamin Netanyahu ordered his military to conduct an operation in the occupied West Bank.

There will be no politicization at the FBI. There will be no retributive actions taken.

— Kash Patel, during his confirmation hearing on Thursday, where the Senate voted to confirm him as President Trump's FBI director. The nomination faced intense scrutiny from Democrats on Capitol Hill, who have warned that Patel is poised to use the position to seek retribution against Trump's perceived political enemies.

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