[MUSIC PLAYING]
Authorities into Paul, warn of a secondary flood after water swept away many buildings. Love ones are waiting for news of more than 1,000 people missing after water swept through valleys in the Pallington Bay.
I'm Steve Inscape with Amartinas,
and this is up first from NPR News.
[MUSIC PLAYING] The head of the Federal Reserve gives a big speech in an annual Fed gathering in Wyoming. Last month, he promised to tackle inflation but offered few details, so investors
want to know what he will actually do. And a federal judge heard arguments so we're putting President Trump's name back on the Kennedy Center. A court already ruled that renaming
it takes an act of Congress, but the Kennedy Center board chaired by Trump wants it up in two weeks or they might tear the building down.
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storylines that you need to follow. Find the MPHR Politics podcast on the MPHR app or wherever you get your podcasts. It's been two days since nearly 30 foot high waves raced on a river between Tibet and Nepal
wiping away communities from Miles downstream. Police in Nepal say the death toll there has risen to 469 people. China has not updated its death toll of three, but both countries together say over 1,500 are reported missing.
Last night it was talking with an American whose parents are among those missing. She's gathered with family and they have known news. MPHR's Dia Hadid covers Nepal. She's on the line with us now, Dia.
So it's been two days. What's the latest information about these floods? Search and rescue efforts are still ongoing. The water's receded from most places, leaving behind mud and debris.
But Santosh Panday from the Aid group Oxfam says, one of the worst affected areas. Russ, why is still only accessible by helicopter? So that's how they're getting eight in.
“So we are coordinating with the government,”
providing support to basically on non-food items
and hygiene keys. But because that area is largely inaccessible, it also means the death count is likely to rise further. And now authorities are warning that there might be secondary floods
because they're still an overflowing lake in the area where experts say the first glacier collapsed, blocking up a river valley and triggering those major floods. There's concern it might burst. David Fisher is head of Nepal's Red Cross delegation.
We're worried of course for the population and for the safety of our own colleagues. We don't have a full view about what kind of intensity would come in a second flood. He says for now, in other devastated areas,
Aid is getting in. Yeah, it sounds like that area is still very dangerous. So what does that mean for the rescue efforts? Are more people likely to be found? Any hope of that?
Napoleon authorities say they've now rescued more than 1,500 people. Some survivors recounted how they fled into forested hills. So there is hope for others. But the situation is so very uncertain.
We don't even know yet if those rescued people were even included in the list of the missing. Yeah, we mentioned how the state department says, 90 Americans are among the foreigners missing. Any of them at all have any of them been found?
Yeah, to be clear, the state department says impacted not missing. And it appears many of those Americans were Hindu pilgrims. Like the in laws of 28-year-old Ariad Narayali,
husband's parents, a 64-year-old Nealam Kumari Sharma, and 65-year-old Ramesh Sharma. She tells NPR, they retire and save to make a pilgrimage to circle Mount Kalash into bed. It's a mountain revered by Hindus.
They were really excited. They were eager to be able to participate in for them an incredible event. She says they haven't heard anything so far. We have been tirelessly looking for that.
That's just been the most torturous part that anyone can imagine is not knowing where your family is. Yeah, yeah, that sounds absolutely awful. Has the state department said anything more about this?
President Trump expressed his sorrow
on the White House yesterday and said his administration offered any help that Nepal needs.
“So far, the state department says it's deployed $500,000”
to rescue efforts, David Fischer, from the red crossers, they're calling for solidarity.
Not just for the first ration for the first day,
but to really put them back on their feet. And solidarity to help Nepal mitigate the impact of human cause climate change, which, frankly, they've barely contributed to, but are paying a massive price.
The climate change is absolutely accelerating disasters. We're not going to be able to cope with them. If we don't invest very substantially in risk reduction in early warning, to help people flee before the war does come.
All right, that's MPR's Dia Hadid, who covers Nepal, Dia, thank you. You're welcome, A. [MUSIC PLAYING] Federal Reserve Chairman Kevin Warsh
speaks this morning at the Jackson Lake Lodge in Wyoming. The elevation for this annual Fed Conference is 6,800 feet.
“The stakes for the Central Banker are equally high.”
Investors were disappointed last month
when Warsh promised to curb inflation, but didn't say how. MPR's Scott Horsley joins us now. Scott sounds like this could be a duel for the Fed chair. Yeah, it could be, but there's no guarantee. You know, all of us are still getting used to Kevin Warsh's
somewhat elusive communication style, which is very different from the last several central bank leaders. And he could use this opportunity to maybe fill in some of the blanks. But he might not. As you say, investors were disappointed last month
when Warsh talked a good game about getting prices under control, but offered very little in the way of a detailed road map. Kathy Busjansik, whose chief economist at the Big Insurance Company nationwide, says she understands Warsh's reluctance to get locked into an economic forecast
when, right now, there are a lot of moving parts. But she says she would like to have a better sense
of what the Fed chairman's thinking.
I'd like to hear him be a bit more communicative on economic views, on inflation views, we're not talking for guidance, but it's just some understanding of how he views the inflation dynamics right now. And perhaps even some outlook. In the past, this annual meeting sponsored by the Kansas City Fed
at Jackson Hole has offered a venue for that big picture. You know, back in 2022, for example, when inflation had just top 9%, then Fed chairman's own pal used this meeting to warn that interest rates would go up and stay up for an extended period, which they did.
So considering how you describe his style as a looser,
“has Warsh telegraphed at all what he's going to say today?”
No. At his news conference after the last Fed meeting in July, Warsh said he was still deciding what to use this speech for, whether we would talk about the next few months of policy making, or perhaps take a step back and offer a more long-range view.
If I could in the high mountain air in Jackson, Wyoming, I'd like to also frame the big questions. What's really happening with productivity? What's really happening with demographics? What's really happening to the global economy
amid the shocks? And some forecasters think it's likely worse. We'll stick with that high altitude approach at Jackson Hole rather than sort of come down to sea level and talk about what we can expect in the next few months
from the central bank. At the July meeting, the Fed held its benchmark interest rate steady, but three members of the committee voted to raise rates and right now investors see about a one-and-three chance of a rate increase at the next Fed meeting in September.
Now, Warsh has been open and optimistic about the cost-cutting prospects of artificial intelligence, or we likely to hear about that today. We certainly could. It is the focus of one of the task forces
that Warsh has set up to offer guidance to the Fed. Eventually, the AI Bloom could usher in lower costs, but Matthew Rosetti, who's chief economist at Deutsche Bank, warns that right now, the massive investment in data centers to support AI is having the opposite effect.
It's driving up the cost of construction and computer chips. In the near term, there's clear evidence that AI is an inflationary force. But there is hope that over the medium term if we left several years out,
it will begin to be a disinflationary force by lifting productivity growth, making the economy far more productive, and therefore putting down pressure on practices as we look ahead.
- Warsh is optimistic about the long range potential of AI, but of course, a lot of consumers are more preoccupied with the prices they're paying right now at the gas pump and the grocery store, and they'd like to hear what the Fed is going to do about it.
- And P.R. Scott Horsey, Scott Thanks. - You're welcome. (upbeat music) - If Admiral Judge heard arguments Thursday over the latest efforts to put President Trump's name
back on the Kennedy Center. - The board that oversees the memorial
To the slain president wants to change the wording
on the building soon, as early as two weeks from now. - And P.R. Culture Correspondent,
“Anastasia Silcus has been covering all of this for us.”
Anastasia, so early in his second term, President Trump made himself the chair of the Kennedy Center board. What does it want to do now? - So the board, which is now dominated by members
appointed by President Trump, voted a couple of weeks ago on August 13th to close the main building of the Kennedy Center, meaning it's biggest halls, it's biggest performing spaces for two years for renovations. And they also voted to put up a new sign on the entryway
that would weed quote the John F. Kennedy Memorial Center for the Performing Arts, restored and renovated by President Donald J. Trump.
And they say, if Trump raises $100 million,
they'll add a third line weeding quote "indowed by the Trump Kennedy Center Fund." And they're not stepping there. The board says it also wants to rename the physical grants, President Donald J. Trump Plaza,
and they want that restored and renovated sign up as early as September 9th. - And if they don't get their way, they say the building might have to be torn down. - Yeah, earlier this week in their own legal filings,
the board said if there's no major renovation, they might have to demolish the Kennedy Center, and perhaps build something else altogether like an outdoor amphitheater. Now, I have to note, in a statement they emailed to me
afterwards, the Kennedy Center walked that back, and they called that a quote hypothetical scenario.
“- Okay, so how did all this land them back in court?”
- Well, this is all part of the federal lawsuit, which represented Joyce Bady, Democratic, Ohio, originally filed last December. And the judge in the suit, Christopher R. Cooper, has already ruled that it was unlawful
to rename it the Trump Kennedy Center. Only Congress has that authority since this center was created as a living memorial to President John F. Kennedy. - So this latest round is over the name again.
- That's exactly it. The question really at this now is with adding Trump's name in the way that the board wants to fundamentally be the same as renaming the center after Trump or is it something different, right?
Bady and her team are arguing it's basically the same thing.
In their emergency motion that led to this hearing, Bady's lawyers quoted Yogi Berra, "It's deja vu all over again." Joyce Bady was on all things considered yesterday afternoon to discuss all this,
and she said what she's been saying since the start of all of this. - The law is very clear that you cannot change what Congress has already passed. - She's also been making the point
that the board wants to put up a sign now saying the center has been renovated and restored before anything's actually happened. - So what's the Trump team saying about all this? - So the board and Trump in his role
as K-Center Chairman are all being represented by lawyers from the Department of Justice from the Civil Division of the DOJ, and they're arguing that an enormous renovation is desperately needed and that Trump is the only person
who can do it. And they're saying that adding Trump's name is not the same as changing anything.
“- I think Yogi also said it ain't over till it's over.”
I guess we'll find out, so that's MPR's Anastasia Silcus Anastasia Thanks. - Knee that. (upbeat music)
- And that's up first for Friday, August 28th at me Martinez.
- And I'm Stephens Gap today's up first was edited by Tina Crya, Raphael Nam, Steve Drummond, Muhammad al-Bardeseen, Alice Wolfley. It was produced by Julie Depp and Brock and Nia Dumas. Our director is the long-suffering Christopher Thomas,
he has to put up with us. We get engineering support from Misha Heines and our technical director is Carly Strange who puts up with us too. Our executive producer is Jay Schaler.
We put up with him, join us tomorrow. (upbeat music) - This season on Planet Money Summer School, we have drilled for oil and Norway. We've smuggled products in the North Korea.
And now we make it to our seventh continent, Antarctica. (laughing) - That's right, big for me. - Mr. Penguin, speak for me.
- I have another sound of Antarctica, that's a reporter trying to interview a penguin. We'll explain on Planet Money Summer School. Listen on the NPR app or wherever you get your podcasts. - Okay, so you're driving to work
or you're on a walk or you're at the gym or whatever and you just need to clear your head. That's the perfect time to hit the play button on NPR's All-Songs Considered. It's not the news, it's not work
or whatever else is weighing you down. It's just a good time with good friends and great tunes. Listen to All-Songs Considered every Tuesday in the NPR Music podcast. - The NPR app cuts through the noise,
bringing you local, national, and global coverage.
No paywalls, no profits, no nonsense.
Download it in your app store today. (upbeat music)
