The 47 Morning Update with Ben Ferguson

1. U.S. Inflation Report and Economic Performance
A recent U.S. Consumer Price Index (CPI) report showing a significant decline in inflation.
Economists surveyed by Bloomberg incorrectly predicted the inflation outcome.
Inflation fell by 0.4% month-over-month, which the speaker describes as the largest monthly decline in several years.
Lower gasoline and energy prices are presented as the primary factors behind the improvement.
Financial markets reacted positively, with: Stocks rising.
Treasury yields falling.
Increased expectations that the Federal Reserve may avoid additional interest rate hikes.

Mainstream media and economists are biased against Trump and intentionally emphasize negative economic news while ignoring positive developments.
Tone: Highly partisan and supportive of Trump. The discussion blends economic data with political interpretation and criticism of media organizations and economists.
2. Iran and the Strait of Hormuz
Roughly 20% of global oil supply passes through the strait.
Escalating tensions between the United States and Iran.
Alleged U.S. military strikes on Iranian military infrastructure.
Iranian missile and drone activities threatening shipping and regional facilities.
Concerns about: Disruptions to maritime trade.
Rising oil prices.
Broader regional conflict.

Discussion of a proposed U.S. transit fee for ships using the Strait of Hormuz that the speaker says President Trump later replaced with trade and investment agreements with Gulf nations.
References to: A blockade on Iranian shipping.
Additional military operations.
Trump's threats to target Iranian power plants and bridges unless Iran negotiates.

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1. Tribute to Lindsey Graham
U.S. Senator 23 years in the Senate
A veteran with 33 years of Air Force service
An influential figure in Republican politics
A close friend and ally of Ted Cruz
2. Trump's First Impeachment Trial
Debate over whether additional witnesses, particularly former National Security Adviser John Bolton, should be called.
Efforts by Republican senators to prevent the trial from expanding into a lengthy investigation.
Arguments that the House impeachment process was rushed and lacked due process.
Discussion of a Senate vote that ultimately rejected calling additional witnesses.
3. Senate Strategy and Politics
Ted Cruz and Lindsey Graham explain behind-the-scenes efforts to persuade key Republican senators, especially:
Lisa Murkowski (Alaska)
Lamar Alexander (Tennessee)
4. Constitutional Issues
Executive privilege
Separation of powers
The Supreme Court and Chief Justice John Roberts
5. Criticism of Democrats
House impeachment managers such as Adam Schiff and Jerry Nadler
Senator Elizabeth Warren
The Democratic Party's impeachment strategy
6. Hunter Biden and Ukraine
Hunter Biden's work with Burisma, a Ukrainian energy company
Questions about conflicts of interest involving the Biden family
Calls for further investigation into those matters
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1. U.S.–Iran Conflict Escalation
President Donald Trump announces a renewed blockade targeting Iranian shipping.
The U.S. is described as assuming a guardian role over the Strait of Hormuz, a strategically important global shipping route.
Trump is quoted as proposing a 20% security fee on cargo passing through the strait.
There were planned military strikes against Iran and the U.S. military has significantly degraded Iranian capabilities.
2. Appointment of Darline Graham Nordone

Senator Lindsey Graham passed away.
South Carolina Governor Henry McMaster appoints Graham's sister, Darline Graham Nordone, as an interim senator.
The appointment is both a tribute to Graham's legacy and a historically significant event because Darline Graham Nordone would become the first woman to represent South Carolina in the U.S. Senate.
We discuss Graham's relationship with his sister and her role in preserving Republican representation in the Senate until a special election is held.
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Lindsey Graham
Lindsey Olin Graham (July 9, 1955 – July 11, 2026) was an American politician, attorney, and Air Force officer who represented South Carolina in the U.S. Senate from 2003 until his death in 2026. He was one of the most influential Republican senators of his era, particularly on national security, judicial nominations, and foreign policy.
Early Life
Graham was born in Central, South Carolina, where his parents owned a restaurant, pool hall, and liquor store. He became the first member of his family to attend college, earning both a bachelor's degree and a law degree from the University of South Carolina. While in school, he suffered the loss of both parents within about 15 months and took responsibility for helping raise his younger sister.
Military Service
After law school, Graham joined the U.S. Air Force Judge Advocate General (JAG) Corps, serving as a military lawyer. He served on active duty from 1982 to 1989, including assignments in Germany, and later continued in the South Carolina Air National Guard and Air Force Reserve. During his military career he reached the rank of Colonel and retired in 2015 after 33 years of service.
Entry into Politics
Graham began his political career in the South Carolina House of Representatives, serving from 1993 to 1995. In 1994, he won election to the U.S. House of Representatives from South Carolina's 3rd Congressional District, becoming the first Republican elected from that district since Reconstruction.
During his time in the House, he gained national attention as one of the House managers who prosecuted the impeachment case against President Bill Clinton in 1999.
U.S. Senate Career
Graham was elected to the U.S. Senate in 2002 and took office in January 2003. He won reelection in 2008, 2014, and 2020. Throughout his Senate career he served on several powerful committees, including Judiciary, Appropriations, Budget, and Environment and Public Works. He also chaired the Senate Judiciary Committee and later the Senate Budget Committee.
Key Political Positions
Graham became known for:
Strong support for a robust U.S. military and interventionist foreign policy.
Advocacy for American support of allies such as Ukraine and Israel.
Leadership on judicial confirmations, including helping advance the confirmations of Supreme Court Justices Neil Gorsuch, Brett Kavanaugh, and Amy Coney Barrett.
Relationship with Donald Trump
One of the most notable aspects of Graham's career was his evolving relationship with Donald Trump. During the 2016 Republican presidential primary, Graham strongly criticized Trump, but after Trump's election, however, Graham became one of his closest allies in Congress and frequently advised him on foreign-policy and judicial matters.
Legacy
His supporters remember him as a skilled legislator, military veteran, and influential voice on national security. Critics often challenged his changing political alliances and hawkish foreign-policy positions. Nevertheless, he remained one of the most recognizable and consequential Republican senators of the early 21st century
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Lindsey Olin Graham (July 9, 1955 – July 11, 2026) was an American politician, attorney, and Air Force officer who represented South Carolina in the U.S. Senate from 2003 until his death in 2026. He was one of the most influential Republican senators of his era, particularly on national security, judicial nominations, and foreign policy.
Early Life
Graham was born in Central, South Carolina, where his parents owned a restaurant, pool hall, and liquor store. He became the first member of his family to attend college, earning both a bachelor's degree and a law degree from the University of South Carolina. While in school, he suffered the loss of both parents within about 15 months and took responsibility for helping raise his younger sister.
Military Service
After law school, Graham joined the U.S. Air Force Judge Advocate General (JAG) Corps, serving as a military lawyer. He served on active duty from 1982 to 1989, including assignments in Germany, and later continued in the South Carolina Air National Guard and Air Force Reserve. During his military career he reached the rank of Colonel and retired in 2015 after 33 years of service.
Entry into Politics
Graham began his political career in the South Carolina House of Representatives, serving from 1993 to 1995. In 1994, he won election to the U.S. House of Representatives from South Carolina's 3rd Congressional District, becoming the first Republican elected from that district since Reconstruction.
During his time in the House, he gained national attention as one of the House managers who prosecuted the impeachment case against President Bill Clinton in 1999.
U.S. Senate Career
Graham was elected to the U.S. Senate in 2002 and took office in January 2003. He won reelection in 2008, 2014, and 2020. Throughout his Senate career he served on several powerful committees, including Judiciary, Appropriations, Budget, and Environment and Public Works. He also chaired the Senate Judiciary Committee and later the Senate Budget Committee.
Key Political Positions
Graham became known for:
Strong support for a robust U.S. military and interventionist foreign policy.
Advocacy for American support of allies such as Ukraine and Israel.
Leadership on judicial confirmations, including helping advance the confirmations of Supreme Court Justices Neil Gorsuch, Brett Kavanaugh, and Amy Coney Barrett.
Relationship with Donald Trump
One of the most notable aspects of Graham's career was his evolving relationship with Donald Trump. During the 2016 Republican presidential primary, Graham strongly criticized Trump, but after Trump's election, however, Graham became one of his closest allies in Congress and frequently advised him on foreign-policy and judicial matters.
Legacy
His supporters remember him as a skilled legislator, military veteran, and influential voice on national security. Critics often challenged his changing political alliances and hawkish foreign-policy positions. Nevertheless, he remained one of the most recognizable and consequential Republican senators of the early 21st century
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