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September Jobs Report; Trump Signs Bill to Release Epstein Files; Sen. Jeff Merkley (D-OR) is Interviewed about the Epstein Files; Sky and Amanda Roberts are Interviewed about the Epstein Files. Aired 9-9:30a ET

Aired November 20, 2025 - 09:00   ET

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

[09:00:00]

CLARE DUFFY, CNN TECH REPORTER: Talking about the benefits that those companies are seeing from A.I. So, a positive report both for Nvidia and really for the larger tech market last night.

JOHN BERMAN, CNN ANCHOR: Yes, I mean, for now what investors seem to be saying is, whoo, this is a boom, not a bubble.

DUFFY: Exactly.

BERMAN: IT's the good "b" word, not a bad "b" word there. Again, at least for now, some relief.

Clare Duffy, great to see you. Thank you very much.

A brand-new hour of CNN NEWS CENTRAL starts right now.

SARA SIDNER, CNN ANCHOR: Breaking this morning. Overnight, President Trump signing the bill, forcing the release of the Epstein files. The big questions, though, that still remain this morning. How long before the public finally sees the files? And will the DOJ use loopholes to keep some of those files secret?

And breaking moments ago, the long awaited September jobs numbers are out. What the critical data missing during the shutdown says about the current job market.

And murder, money, money laundering and drug trafficking. The ex- Olympic snowboarder the FBI says is now on their list of the most wanted.

I'm Sara Sidner, with Kate Bolduan and John Berman. This is CNN NEWS CENTRAL.

BERMAN: All right, we do have breaking news. Breaking economic news. The September jobs report was just released. You may be saying, September jobs. Why is it breaking news? Well, it had been held back because of the government shutdown. And it's giving this new picture about the U.S. economy. And a little bit of a mixed picture.

First, the good news, 119,000 jobs were added. That was much higher than expectations. But the unemployment rate hit nearly a four-year high.

Let's go right to CNN's Matt Egan for the latest on all of this and what it means.

Good morning, sir.

MATT EGAN, CNN SENIOR REPORTER: Well, John, we had hoped that this long-awaited September jobs report was going to provide some clarity on the state of the job market. Unfortunately, it really didn't. It really just adds to the confusing picture because this was a very mixed report.

Now, as you noted, the good news here is the fact that the U.S. economy added 119,000 jobs during the month of September. Now, that is more than twice the 50,000 jobs that had been projected. And it is well above the roughly 50,000 jobs that's needed to keep the job market in equilibrium. So, that is a good news, because if you woke -- if you woke up this morning fearing that the job market was imploding in September, that number suggests it was not.

Now, the bad news, though, is, look at this, the unemployment rate going to 4.4 percent unexpectedly. It was supposed to stay at 4.3. It did not. And as you noted, this is a new four-year high.

Now, when we look at the pace of job growth over the past year or so, you can see that September was a big rebound. The other thing that this chart shows is that August was revised negative. It was positive 22,000, and now it is slightly negative.

And the other thing that really stands out here is now we have two of the last four months, right, June and August, where the U.S. economy actually lost jobs, two out of the last four months that we have data on. That's after a stretch of almost four years of uninterrupted job growth. So, this clearly speaks to the softness in the job market.

The other thing I want to look at here is wages against prices. Because we know there's this affordability crisis where a lot of people feel like they just can't keep up with the high prices. And this chart, the red line shows the rate of inflation. And when you go back to 2023, the red line was above the blue line, which is wages. And so that's why people felt like they could not catch up.

Now the good news is that in the latest month wages were up by 3.7 percent. That is ahead of the inflation rate which was 3 percent.

But I also think that what stands out here, John, is that the gap here is narrowing, right? And so prices are still high. They're still going up at a fast pace. But wages are not going up by nearly as much. So, that's part of the reason why people are so frustrated with this economy.

One last point for you, John. You asked me about whether or not this report adds to the likelihood of an interest rate cut. And we were just looking on Polymarket (ph). The chances of an interest rate cut were about one in four before this report came out. Now they are about one in three. So, the market is thinking this slightly increases the chances of a cut at the next meeting in December.

BERMAN: That is interesting. That chart we have right behind you, though, Matt, very interesting. I hadn't seen that before. You can see why people are beginning to feel the pinch, because the margin between wages and prices is shrinking.

EGAN: Exactly.

BERMAN: All right, Matt Egan, thank you very much.

Sara.

SIDNER: All right, new this morning, when we see the Epstein files is now up to the Justice Department. Overnight, President Trump signed the bill directing the DOJ to release all of those files, then announced the signing on social media, saying this, quote, "latest hoax will backfire on Democrats."

[09:05:09]

The department has -- now has 30 days to release the files, but some critics and Epstein abuse survivors are worried the DOJ will hold back some of those files, claiming they can't be released because of ongoing investigations.

CNN's Alayna Treene is at the White House for us this morning.

What are you learning this morning?

ALAYNA TREENE, CNN WHITE HOUSE REPORTER: Well, as you said, Sara, the big question now is when will the American people, many of whom have fixated on what is actually in these files for years now, when will they actually get to see what these entail?

Now the Justice Department has 30 days to turn these over. That means they have to do so before -- a little bit before Christmas.

But a couple things in this as well. One is that the law that the bill -- or, excuse me, the bill that the president signed last night, it states that all victim's names and identities must be redacted, of course, to protect them. But it also gives them -- there's a provision in there that gives them the opportunity to withhold some of these materials if they relate to an ongoing criminal investigation. Really that is going to be a decision, Sara, that is up to the attorney general, Pam Bondi, as well as the FBI director, Kash Patel.

As for what's in them, I think it's important to keep reminding viewers of what to expect when we do see this document dump of sorts. There's 300 plus gigabytes of data, paper, video, photos, audio. There's also several interviews with witnesses and victims and what suspects had told investigators. And then there's also memos on the investigation, potential targets and search locations, as well as records to subpoena.

And so, really, this is a moment, as you said, that a lot of victims of Epstein, a lot of the survivors who went through much of his abuse have really been building toward. This is a bill they've been fighting for, for several months now, finally seeing it passed into law. And because it's a bill that has become law that Congress passed, essentially that means there is no way, really, that the Justice Department can get out of this. They are compelled to do this.

And so, essentially, when I've talked to people in the Trump administration, they tell me that essentially they expect most of these documents to be turned over, but potentially not all, because if there are any investigations relating to this.

One thing I want to point out as well is the president went into detail last night trying to put a lot of the blame on the Democrats. But one thing he didn't do was mention some of the survivors. We heard some striking statements from many of the survivors. I encourage a lot of people to read what they said.

SIDNER: Yes, I mean, it was incredibly emotional. There is a huge release. And a lot of the survivors that we've been talking to this morning are saying they are so thankful that it is finally going to come to the light, but they are worried, as you mentioned, that not everything will come out.

Alayna Treene, great reporting from you this morning there from the White House. Do appreciate it.

And, Kate.

KATE BOLDUAN, CNN ANCHOR: Let's talk more about this. Joining us right now is Democratic Senator Jeff Merkley of Oregon. He co-sponsored a version of the Epstein Files Transparency Act in the Senate.

Senator, thank you for being here.

So, the president signed it. A lot of people now -- everyone now speculating what will happen now. What do you expect?

SEN. JEFF MERKLEY (D-OR): Well, I expect the administration to block release of anything that puts the Trump administration or Trump himself in a bad light. I don't trust this administration to follow the law at all. There are provisions in this law that say you can redact for a temporary and very narrowed protection of an investigation, but I -- who's going to be inside the administration actually saying follow this law as written. Plus, they have to provide explanations of what they redact. But will they really provide detailed explanations?

I just think that Trump has spent the last ten months protecting pedophiles, powerful men who were involved with Epstein. He's been defending his own reputation. I'm not saying that he himself falls into that pedophile group, but just that he thought that this investigation or this -- these materials would harm his reputation in some way.

But I have been astounded at the Republican Party backing up the president for ten months to block release these files. And the way it flipped, massive grassroots energy from the far right to the middle of the far left, really brave and powerful testimony by the victims until it became an irresistible force. So, I really applaud all of those who stepped forward to say, this is unacceptable to have this massive assault on young girls, they've been raped, they've been abused, they've been groomed. It is accountability to the predators, and it needs to be justice for the victims.

BOLDUAN: The -- in hearing from the survivors and what this moment means for them is something that is so, so, so powerful. The president, bears repeating, not -- as you qualify it correctly, is not accused of any wrongdoing but definitely has been hesitant to have these released until he became in support of having the files released.

[09:10:08]

I have heard from some smart attorneys that actually what was -- how this law was written leaves a pretty big leeway, could be read as a big loophole for the Justice Department in deciding what is released and not. If you don't and didn't and haven't trusted the Justice Department, in your view, to do the right thing, why did you sign on to this law that allows for this loophole for them to not release the files?

MERKLEY: Yes. As we wrote this law, we turned to the judicial experts who said, basically, there's no way you can compromise ongoing investigations. You have to provide protection for that as a core principle. I'm not a lawyer myself, so I accept that, but it was written as narrow a fashion as possible with the requirement that any redaction be fully explained so one understands that.

But here is -- here is the thing, we're not close to the end of this -- of this journey. It was a huge stride towards justice to pass this law.

BOLDUAN: So, what do you do next, though? What's next?

MERKLEY: Yes. So, one of the next step is there's a whole nother set of files. These files rest with the Treasury Department. They contain $1.5 billion of wire transfers with the identities of who the money went to. A lot of it international. So, there's this huge amount of evidence. And there is a law that Senator Wyden, as the lead Democrat, has been championing on the Finance Committee, saying, these records need to be turned over to Congress for an investigation. And that would add huge understanding to this international, massive operation. It wasn't just a few men at some mansion. This was an international, perhaps involving organized crime, perhaps involving money laundering. But there's a whole nother set of records. Think of it as Epstein files 2.0.

BOLDUAN: And this is actually something that Ron Wyden has been pushing for, for years, and has not been -- gained access to everything that has been requested from Treasury on this.

As part of this -- and when you speak of ongoing investigations, this is -- one of the people that President Trump has called on the Justice Department to investigate now, Larry Summers has informed Harvard as of last night that he's taking a leave of absence immediately from teaching after emails were revealed between him and Jeffrey Epstein, after -- who Jeffrey Epstein is was quite well known. Do you think that was -- that leave of absence is a good idea? Maybe, more importantly, do you think Larry Summers has questions to answer now as this -- and should be investigated?

MERKLEY: Well, the details about Larry Summers, I'll leave for him to answer. I think the emails certainly spoke to the injudicious conversations he was having with Epstein. The point here is the Democrats have taken the position of the chips will fall where they may. That this is not an issue of going after Republicans or going after Democrats. This is an issue of going after predators. And so -- so the -- Trump thinks he's doing something clever by trying to shift this on to, well, there's some Democrats who will -- may suffer from this. I don't care who they are, my colleagues don't care who they are, what party they belong to, how much money they have, how many campaign donations they've had. If they have been involved in these predatory actions, then they need to be held accountable.

BOLDUAN: Senator Jeff Merkley, thank you for coming in today.

MERKLEY: Thank you.

BOLDUAN: Sara.

SIDNER: All right, thank you, Kate.

Coming up, taking a live look here, former presidents and vice presidents gathering this morning at this church here for Dick Cheney's funeral. Who is not on the guest list is also telling a story this morning.

And a surprising White House visit. President Trump says he will meet with New York City's Mayor-elect Zohran Mamdani in the Oval Office.

Plus, the Coast Guard making a record-breaking drug bust aboard a ship.

(COMMERCIAL BREAK)

[09:18:26]

BOLDUAN: New this morning, the FBI has now added former Canadian Olympic snowboarder Ryan Wedding to its top ten most wanted list. The alleged drug kingpin, nicknamed El Jefe, is also facing new charges, including murder, witness tampering and more.

(BEGIN VIDEO CLIP)

PAM BONDI, ATTORNEY GENERAL: He controls one of the most prolific and violent drug trafficking organizations in this world.

(END VIDEO CLIP)

BOLDUAN: Authorities have been searching for Wedding for more than a year. He's charged with running a drug ring that authorities say shipped large amounts of cocaine from Colombia through Mexico into the United States and Canada. The State Department just raised the reward for information leading to his capture to, get this, $15 million. He's believed to be in Mexico right now.

Also this in overnight, President Trump has now confirmed he will be meeting with New York City's Mayor-elect Zohran Mamdani at the White House tomorrow. The president posting about it and saying that they have agreed to meet in the Oval Office in the post. The president incorrectly calling Mamdani a communist. He is a Democratic socialist. The two men, I mean this goes without saying, have fiercely attacked each other for months. Here's what they both said after the election.

(BEGIN VIDEO CLIP)

DONALD TRUMP, PRESIDENT OF THE UNITED STATES: Look at the result of yesterday's election in New York, where their party installed a communist as the mayor.

We're going to see how that works out.

ZOHRAN MAMDANI (D), NEW YORK CITY MAYOR-ELECT: So, Donald Trump, since I know you're watching, for words for you, turn the volume up.

(END VIDEO CLIP)

[09:20:05]

BOLDUAN: So, what's this going to look like in the Oval Office tomorrow? CNN has reached out to Mamdani's transition office for confirmation of this meeting. Mamdani has told other outlets he wants to talk to the president about how New Yorkers are struggling to afford living in the city.

Sara.

SIDNER: All right, ahead, there's a dangerous situation brewing above Texas this morning. Severe storms are bringing torrential rain in the same areas that were hit with those deadly, devastating floods this summer.

Also, a moment of zen for all of us. Not so much for the camels. Watch as thousands of camels begin their journey across the heart of the desert toward cooler winter pastures.

(COMMERCIAL BREAK)

[09:25:04]

SIDNER: Breaking overnight, President Trump signed the bill ordering the Justice Department to release all of its files on Jeffrey Epstein, but there are some exceptions in the bill.

Whatever is released, the DOJ has 30 days to make it happen. The release is most meaningful, of course, to the victims of Epstein's abuse and the families who have been fighting for this moment for a very long time. Case in point, Sky Roberts, the brother of Epstein victim Virginia

Giuffre. He spoke alongside survivors just a couple days ago.

(BEGIN VIDEO CLIP)

SKY ROBERTS, BROTHER OF VIRGINIA GIUFFRE: Epstein and Maxwell didn't just abuse her. They trafficked her to a network of the rich and powerful, princes, prime ministers, politicians, financiers and lawyers. These men committed unspeakable acts against her, against her will, and against the will of countless survivors who stand united with us today.

(END VIDEO CLIP)

SIDNER: Sky Roberts and his wife, Amanda, are with me now.

Thank you both for joining us again.

Look, you saw the president has signed this. He announced it on his social media. And he pointed out that it was his DOJ that prosecuted Jeffrey Epstein in 2019. But he also said that this, quote, "hoax will backfire against Democrats."

What are you feeling this morning about all of this and what has happened over the past 48 hours?

AMANDA ROBERTS, SISTER-IN-LAW OF VIRGINIA GIUFFRE: Yes. I think, first and foremost, before we get into Donald Trump and his comments, I want to say, we get so many like little wins when -- during this fight. And I want to celebrate the joy in this moment. The hard work that Virginia has done, being so relentless in her courage and bravery. And she paved the way for this. And that moment that we felt yesterday, with all of her survivor sisters, is monumental. The work that they've put in, that we've put in to fight for this, the organizations who lobbied with us, the congress men and women who stood up for what was right instead of what was easy and still chose to stand with us, even if that meant breaking from their party affiliation. That is where the honor is deserved. That is where the credit is due. And we need to put that credit on them and us and all the survivors. I want to say that first.

The second thing that I feel is, I think while we are feeling weary about what's going to happen next, how the files are going to be released and what is going to be released, I do want to say, first and foremost, to remind every single person, that party affiliation is a moot point. There -- we know that there were Democrats and Republicans mentioned and implicated in those files. We know that, and we will be watching to make sure that true transparency is going to happen, and we will hold them accountable to it.

SIDNER: I do want to ask you, Sky, in your sister's book, "Nobody's Girl: A Memoir of Surviving Abuse and Fighting for Justice," she named people like Prince Andrew, but there are several people that she did not name. She described, though -- she described a former prime minister that brutally assaulted her. She said she was trafficked by a gubernatorial candidate that went on to win office. A former senator and a billionaire were also involved. If these names are in the files, do you think they will be released?

SKY ROBERTS, BROTHER OF VIRGINIA GIUFFRE: Well, I can tell you, we're watching. I would sure hope so. One of the biggest points, and I think Amanda touched on this, is that survivors and we are watching. We know the names. We know the people that should be implicated in here. And we are asking for full transparency.

You know, we don't need to be playing any political BS games right now. We need to be playing, you know, through the bill, it clearly states, we want all the files released with the redactions of the names of the victims, but no redactions to anybody that may be implicated in some way, shape or form. And we would ask for a full investigation of every single one of those people, because the survivors deserve that. My sister couldn't name those names simply because, like, it would put her life at risk. It would put her family's life at risk. These people could sue you into homelessness. That's -- they're so powerful. And so we're asking our government to protect us, to protect the survivors, to release the names and then hold them to an account.

SIDNER: I do want to ask you about that, because you really made a point there that you want to see the victim's names redacted, but you want to see those who are implicated fully available to the public.

Attorney General Pam Bondi was asked why the DOJ is now investigating this case after Donald Trump put forward that he should -- they should go after Democrats.

[09:30:04]

In July, in a memo, she said that the investigation was closed and no further investigation is necessary.