Thursday morning news: December 11, 2025

Editor's note: The following text is a transcript of a podcast story. To listen to the story, click on the arrow beneath the headline above.

U.S. seizes Venezuelan oil tanker » President Trump says U.S. forces have seized a large oil tanker off the coast of Venezuela. He told White House reporters that it’s one of the largest ever taken by American forces, and that the U.S. intends to keep its cargo.

TRUMP:  You see the result, and I guess they probably have, uh, released the pictures by now or pretty soon. Uh, you'll discuss that with the appropriate people later on, but, uh, no. It was seized for a very good reason.

The Coast Guard led the operation with support from the Navy. It’s the latest move in Washington’s effort to tighten pressure on Venezuelan dictator Nicolás Maduro, who faces narcoterrorism charges in the U.S.

U.S. officials say the action is part of a broader push to disrupt illegal oil shipments and suspected trafficking routes tied to the Maduro regime.

The seizure comes a day after U.S. fighter jets flew over the Gulf of Venezuela — one of their closest passes to the country in recent years.

Fed announcement » The Federal Reserve has cut its key interest rate for the third time in a row.

Chairman Jerome Powell announced another quarter-point cut. But he also said the Fed will not be in a hurry to cut rates again anytime soon.

POWELL:  Risks to inflation are tilted to the upside and risks to employment, to the downside. A challenging situation. There is no risk-free path for policy as we navigate this tension between our employment and inflation goals.

Considering potential impacts on inflation and employment, Federal Reserve members remain somewhat divided on what to do from here.

Powell said the Fed is now close to a “neutral” setting — a level that doesn’t slow the economy but doesn’t boost it either.

The benchmark rate now sits at its lowest level in nearly three years, around 3.6%. Lower rates can ease borrowing costs over time for mortgages, car loans, and credit cards.

Gold card » President Trump says his new “gold card” immigration program is now open. A website began taking applications Wednesday as the White House rolled out the plan.

TRUMP:  It's somewhat like a green card, but with big advantages over a green card.

Commerce Secretary Howard Lutnick explained some of those advantages for companies who invest $2 million dollars to bring in a foreign worker.

LUTNICK:  They can then have an employee, uh, full betting, the best vetting the government has ever done. $15,000 vetting to make sure these people absolutely qualified to be an American, absolutely qualified. And then the company can keep them here and they have a path to citizenship.

An individual can get a gold card for $1 million dollars.

The program replaces the older EB-5 investor visa. The administration argues the updated version will help the U.S. attract skilled talent while bringing new revenue into the Treasury.

Critics question dropping job-creation requirements found in the previous system.

Ukraine latest » Also on Wednesday, President Trump said it's time for Ukrainian citizens to go to the polls.

Ukrainian President Volodymyr Zelenskyy's five-year term expired in May of last year, but elections haven't been held due to the martial law imposed during the war.

TRUMP: People are asking this question, when do they have an election? Are they going to have an election or are they going to just keep it going like this?

Zelenskyy says that he's happy to hold an election in a matter of months if the United States and European allies can provide security for voters to go to the polls.

ZELENSKYY: In Ukrainian

He says he spoke with Ukraine's parliament and asked lawmakers to review any legal issues involved with holding an election amid martial law.

All of this comes as Zelenskyy says Ukraine is finalizing its changes to a U.S.-backed peace proposal to end the Russia Ukraine war. He has said Ukraine will not agree to any proposal that cedes land to Russia. Trump, meanwhile, says Zelenskyy must be realistic.

California National Guard ruling » A federal judge has ordered the Trump administration to end its deployment of California National Guard troops in Los Angeles and return control to the state. WORLD’s Benjamin Eicher reports:

BENJAMIN EICHER: U.S. District Judge Charles Breyer in San Francisco issued the ruling, granting a preliminary injunction. But he also put that on hold until Monday to allow time for a possible appeal, and the Trump administration does plan to file one.

President Trump activated more than 4,000 Guard members in June without Gov. Gavin Newsom’s approval. Trump said the move was needed to support federal officers during sometimes-violent protests.

Judge Breyer said the administration overreached and that local law enforcement has been handling demonstrations for months.

For WORLD, I’m Benjamin Eicher.

I'm Kent Covington.

Straight ahead: congress considers what to do about subsidies and the affordable care act. Plus, Charles Dickens, A Christmas Carol, and holiday tradition.

This is The World and Everything in It.

WORLD Radio transcripts are created on a rush deadline. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of WORLD Radio programming is the audio record.