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Madison Mills is Interviewed about the Second Quarter Rebound; Rep. Jimmy Gomez is Interviewed about the Economy; Funeral Procession for Ozzy Osbourne; Jury Deliberations in the Dentist's Murder Trial. Aired 9:30-10a ET

Aired July 30, 2025 - 09:30   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

[09:30:00]

LAUREN FOX, CNN CONGRESSIONAL CORRESPONDENT: Now, the letter goes on to say that they want to protect any victim information, that they want to protect any images of child abuse. They also make clear that they expect these documents to be turned over by August 15th. They also expect a briefing by August 29th. Again, this is a very little tested rule here in the Senate. It's not clear if this gambit would play out, but obviously Senate Democrats trying very hard to keep this in the news, to keep the focus on this story, even as Republicans and Democrats in the House have gone home for their summer recess.

John.

JOHN BERMAN, CNN ANCHOR: All right, so that's the breaking news on the Senate side.

On the House side, I understand we're -- we're waiting on official word from the House Oversight Committee. Ghislaine Maxwell, convicted of conspiring with Jeffrey Epstein to sexually abuse minors, her attorneys putting all these sort of demands on this committee if she's going to come talk to them. How are these demands being viewed?

FOX: Yes, it was very clear yesterday from James Comer, the chairman of the House Oversight Committee, that she was not going to get immunity for talking to the committee. We expect that we will get a further statement laying out what the next steps are. But, obviously, this is something that is going to continue brewing over the next several weeks as lawmakers are on this recess. But this was always sort of expected to be a long and lengthy back and forth between the Oversight Committee and Ghislaine Maxwell's attorney.

John.

BERMAN: Ghislaine Maxwell's attorney, who seems to be flexing right now, feeling a little bit in control of this situation. We'll see where that goes next.

Lauren Fox, a lot of new reporting on Capitol Hill. Thank you very much.

We have new economic numbers just out this morning. A lot to digest here. Gains for the U.S. economy in the quarter following losses the previous quarter. But what does it all mean, and what are consumers telling us with their spending?

(COMMERCIAL BREAK)

[09:36:28]

BERMAN: All right, breaking this morning, the U.S. economy GDP rebounded sharply in the second quarter, growing at an annualized rate of 3 percent. That is up from the contraction, you can see right there in the graph where it actually went down in the first quarter. The first quarterly decline since 2022.

President Trump weighed in. He said, quote, "3 percent, way better than expected." He said "too late," he's referring to the Fed. "Must now lower the rate. No inflation. Let people buy, and refinance, their homes." It's interesting, he didn't put out a similar statement bragging about the economy in the first quarter, when GDP was negative.

At this moment, the markets up a very little bit. Basically opening flat on this news and a lot of other stuff going on.

With us now is Madison Mills, senior markets reporter for "Axios."

Let's first just talk about the top line number, because 3 percent annualized rate, you're like, oh, that's a big, good number.

MADISON MILLS, SENIOR MARKETS REPORTER, "AXIOS": Right, it must be a good number. But exactly, as you smartly pointed out, John, when you look under the hood of this data, there's some muddiness going on, right?

So, we had this huge surge in imports impacting the GDP number that you mentioned from last quarter. And, obviously, that went away because companies weren't doing this pull forward of imports to get ahead of any tariff policies that could be coming down the pike. So, now we have this GDP number coming in really strong, just because those imports fell off a cliff. So, it's not necessarily a sign that we have this amazing economic expansion going on.

And you mentioned as well the Federal Reserve having their meeting today. It will be interesting to see if they signal anything about how they're viewing the consumer and the economy as well.

BERMAN: I'm an avid follower of you now on Twitter. And as soon as these numbers came out, you dug in them. And you saw some data comparing what companies are doing to consumers. What did you see?

MILLS: This is fascinating as a markets reporter because my sources and I are always talking about markets versus the economy, and whether one tells you much about the other. Companies are outspending consumers right now, especially the big tech companies. And we're going to hear from two of them today, Microsoft and Meta. They're spending so much money on A.I. to get ahead in the A.I. race that they're outpacing the amount of money that you and I and consumers are spending right now. So, that's another thing that could be making it look like our economy is stronger than it actually is because those companies are spending so much money to get ahead on A.I.

BERMAN: Consumer spending up, but not by a big number. Sort of -- I don't want to use this term anemic pace, but a slower pace, which could factor in. And when the Fed tries to digest this all today, what will they see?

MILLS: Yes. Well, we know they're going to essentially -- we know we're -- they're going to hold interest rates steady. They don't like to surprise investors. They've signaled they're going to keep rates steady.

But what we do want to watch this meeting for is any signal, to your point, about what they're going to be looking at in the future, are they concerned about any tariff-driven inflation, and will that impact how they think about rates going forward?

BERMAN: Yes, really depends on how you look at it. They just need more clarity every month that passes. Still more questions.

Madison Mills, thanks very much. Really appreciate you being here.

MILLS: Thank you.

BERMAN: Kate.

KATE BOLDUAN, CNN ANCHOR: And joining us right now to talk much more about this and more, Democratic Congressman Jimmy Gomez of California.

Congressman, thanks for coming in.

REP. JIMMY GOMEZ (D-CA): Of course.

BOLDUAN: This GDP report we're digging into, as they just were, I mean, U.S. economy expanded sharply in the second quarter. Businesses dialing back on imports after stocking up earlier in the year to get ahead of Trump's tariffs. Is this showing that consumers and businesses are weathering Trump's sweeping economic policies well?

GOMEZ: I think what it's showing is, that they're trying to do with the erratic nature of his policies, by in -- when he says that there's going to be tariffs, people try to load up on buying things. And if -- when -- and when they say they pull back, then all of a sudden they calm down. So, you see this kind of whipsaw going on.

[09:40:06]

But also, you need to look at other data to see what is happening to the American consumer, who I'm concerned about, the worker. The people -- auto loan defaults are increasing. That is a concern because when auto loan defaults increase, what does that tell you? That people are trying to make a decision, should I pay for the essentials, right, for the housing and the food, versus something like an auto loan that if somebody takes it and doesn't -- it's -- it's devastating, but not that big of a deal like losing your house. So, I think we need to kind of see what the data is telling us. But

what it tells us is the Trump chaos is going to continue, and the American people are going to suffer. Because here's the thing. Somebody's going to have to pay for those tariffs. And right now the companies are. But sooner or later, that's going to trickle down to the American consumer.

BOLDUAN: Yes, you're hearing that a lot. They -- they're absorbing it now. How long that can last before things get ironed out, that's a huge question.

Let me ask you about Jeffrey Epstein and the moves going -- everything that's kind of swirling about this, especially in Congress. We're waiting now to hear more from the House Oversight Committee to kind of more fully respond to the demands set by Ghislaine Maxwell's attorney in order for her to testify before Congress.

You want the Justice Department to release the files that they have. Do you also want to see her testify before Congress if it means agreeing to the demands that have been set forth?

GOMEZ: Absolutely not. I think, one, I do want to see the files, but that's because Donald Trump and the Republicans promised those files to their base. They said they were going to be the most transparent administration in U.S. history, that they were going to drain the swamp, they were going to go after the elites. They did none of that. They started backing away. And it was their own base that pushed back. So, I want people to understand, we want those files because it's a -- we want to make sure that we hold this administration accountable.

At the same time, when it comes to Maxwell, if she comes to testify for -- before Congress, she knows she only has an audience of one. She wants a pardon, or she wants to basically get her sentence commuted. So, her -- her -- her audience is basically Donald Trump. And if she has no legal threat that anything she says, if she's lying to Congress, is not going to get her in trouble, but she can actually curry favor with Donald Trump and get him to look good, then she's going to be let off.

She's a known liar. So, I wouldn't say that she's a -- a -- an innocent bystander or trustworthy witness. So, I think we don't need to see her. I want to just see the files. And they should release them right away.

BOLDUAN: One of the things that's happened is we've -- the president's kind of evolving explanation or new explanation of what led to the falling out that he had with Jeffrey Epstein years ago, saying that -- telling reporters that he -- that Epstein, quote-unquote, stole employees and stole young women who were working for Donald Trump at his spa in Mar-a-Lago. One of them, the president says, was Virginia Giuffre, likely the most well-known of Jeffrey Epstein's victims. What's your reaction to that?

GOMEZ: I think it's pretty disgusting. Number one, nobody owns an employee. And, absolute, no one owns a young woman. So, if he's saying that a known, you know, somebody who had relationships with young women, he knew that he liked young women, that he stole her, then he -- he -- he knows more than he's leading -- leading on. So, I think that's something that is absolutely disgusting. And I think that's why the American people want to know his real relationship. Somebody who denied having a relationship, then that wasn't that close, but then he's sending them notes and doodles. So, that's kind of the stuff that I think why the American people kind of say that none of this smells right. Everything is just fishy. And I think that's why people want to know what was his real relationship with Jeffrey Epstein.

BOLDUAN: The House minority leader, Hakeem Jeffries, is headed to Texas to meet with Democrats there, as Texas Republicans are making this push to redraw the state's congressional maps to favor Republicans. I have seen that you support California essentially responding in kind, redrawing its maps to benefit Democrats in response. But do you want just every Democratic led state in the country to start doing this?

GOMEZ: If -- if Republicans, Donald Trump, are going to try to steal another House majority, which they did, remember that they redrew North Carolina and all of a sudden, if they were -- didn't do that, the Democrats would be in the majority and it would be a different Donald Trump administration. So, if the Texas Republicans and Donald Trump want to steal, try to steal another House majority, absolutely. That's what we have to do. We can't continue this, getting slapped in the face, letting them get away with it, and then allowing them to steal our democracy and rig the game.

So, I believe if -- if they do it, we should move ahead and do it in California, as well as other states, because, in the end, we're playing for a lot more.

[09:45:08]

This is for keeps. This is for the future of the country, even I would say more so than 2024. And that's because Donald Trump's agenda would be solidified in the next two years after -- after this next session.

So, this is a big deal. And I think we need to take it as what it is, which means the future of our country.

BOLDUAN: Congressman Jimmy Gomez, thanks for jumping on.

This morning, jury deliberations resume in the trial of a Colorado dentist accused of murdering his wife by poisoning her protein shakes. Got much more on what is going on there.

And Ozzy Osbourne honored in his hometown in England, as his family and fans come together and say their final goodbyes.

(COMMERCIAL BREAK)

[09:50:18]

BERMAN: All right, happening now, we've been watching the funeral procession for Ozzy Osbourne through the streets of his beloved hometown of Birmingham in England. His wife Sharon, there, along with his children. Ozzy Osbourne died last week at the age of 76.

Salma Abdelaziz following this for us from London.

Salma, I know you wish you could be there to see it in person, but this is -- this is quite a scene in Birmingham.

SALMA ABDELAZIZ, CNN CORRESPONDENT: It's a very big scene. A hometown welcome for a hometown hero. Tens of thousands of people gathering right in the city center to see this funeral procession passed through. Some of them lining up for hours, John.

And let's just start with that video. It's so emotional seeing Sharon kneeling down with the kids, Jack and Kelly, laying flowers right in the place where just last week people started lining up literally all day long, John. We would see fans just passing through, putting down notes, putting down flowers, sharing their memories of the prince of darkness.

You can see how much she's connecting with the crowd there. Their love story, of course, immortalized decades long. Not just his wife, not just his best friend, but his manager, who saw his career rise from the Black Sabbath bandmate, to his own solo career.

But you know what, John, there was also, alongside that very somber atmosphere, one of celebration. I want to show you the brass band that was playing again as this funeral procession passed through the center of town. Reportedly, Ozzy Osbourne had said he did not want his funeral to be a sad thing. He wanted it to be a celebration. And that's what I saw in Birmingham last week, all these metal heads really enjoying and celebrating the life of a man they say started a genre of music, opened up a whole new world of music that has been passed on through generations.

I spoke to fans as young as eight years old, and, of course, as old as 80 years old. You can hear that brass band playing, of course. And in the reason why he is so important to Birmingham, of course, his hometown, the place where he played his first gig ever as a Black Sabbath band member, where he played his last gig, which had billed -- been billed his final bow just two weeks before he passed away. And you heard so many of his fans telling me that, saying he was able to do that, give his last goodbye to his fans. And that included charity, as well, ,John, his final contribution to his hometown, reportedly $190 million raised in charity during that final concert.

BERMAN: You know, I got to say, we talk about people's hometowns, but he was so connected to that city for his entire life. I think it's really amazing to see everyone turn out for him. And it is a celebration, just like Ozzy Osbourne would have wanted.

Salma Abdelaziz, thank you very much for that.

Kate.

BOLDUAN: Those crowds were really remarkable.

This morning, jury deliberations are about to resume in the murder trial of James Craig. He is the Colorado dentist accused of killing his wife by repeatedly putting poison in her protein shakes.

CNN's Jean Casarez has been following this one from the very beginning.

And, Jean, after everything that was revealed in court, through witnesses, through the evidence presented, how did the prosecution and defense leave it with the jury in closing arguments?

JEAN CASAREZ, CNN CORRESPONDENT: You know, the prosecution really initially went to the heart and soul motive because they believe they have a lot of motive. Number one, he wanted to be free. He wanted to be able to date women and have women. Number two, financially. He didn't want to lose 50 percent of everything he had. And number three, it was his -- his persona. He was a dentist, an advertising dentist. Commercials on television. Everybody knew him. So, to be a grieving widow would have been appropriate for him to maintain that -- that status that he had in the community.

Also, they looked at the law, the elements of the crime of first- degree murder and the facts, deliberation and intent. For ten days he researched, purchased and administered poisons to his wife that finally killed her. I want you to listen to a little bit of the prosecution's closing argument, and then the defense.

(BEGIN VIDEO CLIP)

MICHAEL MAURO, SENIOR CHIEF DEPUTY D.A., COLORADO: But the devil's in the details, and he can't keep the details straight. You all know from your reason and common sense that the truth doesn't change. James Craig isn't telling the truth. He's telling a false narrative. This guy wanted out of his marriage. And marriages only end in two ways, death or divorce.

LISA MOSES, DEFENSE ATTORNEY: Do you know what they proved? They proved beyond a reasonable doubt that this guy was a pretty crappy husband. He cheated on his wife constantly. But this idea that somehow this was some sort of motive was nothing new.

(END VIDEO CLIP)

[09:55:00]

CASAREZ: At the very end, a count seven emerged. There is another count. It is manslaughter, assisted suicide. Up to six years. Prosecution says we don't want you to find him guilty on that. Defense was silent. But I think that this was -- absolutely the defense wanted this as a lesser alternative for the jury to consider. First degree murder, life in prison. Another thing to look for, solicitation to commit first degree murder, trying to get the lead investigator murdered before the trial. That is --

BOLDUAN: Oh, right, there was that element, remember, that we didn't bring up what happened --

CASAREZ: And that's up to 24 years. So, jury will start deliberating again. Their first full day of deliberations today. BERMAN: And they have a lot to consider, to be sure.

BOLDUAN: Jean, thank you so much.

CASAREZ: Thank you.

BOLDUAN: You've been following it so importantly for us. We really appreciate it.

Thank you all so much for joining us today. This is CNN NEWS CENTRAL.

BERMAN: So glad to have you back. It was so hard without you.

BOLDUAN: I'm so glad to see you.

BERMAN: I miss you so much.

BOLDUAN: "SIT ROOM" is up next.

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