Central Air Jay Powell's Emergency Podcast
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Jan 14, 2026 The podcast dives into the Federal Reserve's subpoenas over Jerome Powell's testimony and his bold video response challenging political pressures. The hosts critically examine the implications for Fed independence and how market reactions suggest a shrug at the chaos. They also discuss a controversial ICE shooting in Minnesota, raising questions about policing tactics. Lastly, the conversation shifts to the malaise among straight individuals, critiquing relationship norms and the rising voices in dating dynamics.
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Subpoenas As A Political Play
- The Trump administration's subpoenas of the Fed look aimed at pressuring monetary policy, not genuine criminality.
- Josh Barro argues this politicizes the Fed and could backfire by making Powell stay to defend independence.
Powell's Video Was Deliberate Strategy
- Jay Powell's direct-to-camera video was a strategic PR and legal move to frame the investigation as pretextual.
- Megan McArdle and Ben Dreyfuss note it likely rallied bipartisan support and made removal harder.
The Fed Is Harder To Capture Than It Looks
- Even replacing the Fed chair doesn't guarantee control of monetary policy because the FOMC is a multi-member committee.
- Josh emphasizes you need a majority on the board and regional presidents to change policy direction.