The Situation Room with Wolf Blitzer and Pamela Brown Trump Administration Targets Fed Chair
Jan 12, 2026
U.S. Representative Pramila Jayapal discusses the alarming DOJ probe into Fed Chair Jerome Powell, emphasizing the threats to Fed independence. She highlights the administration's recent surge of immigration agents in Minneapolis amid protests following an ICE shooting. Jayapal advocates for diplomacy over military action regarding Iran, calling for Congressional oversight and authorization. The conversation touches on the potential repercussions of U.S. military actions and the geopolitical landscape surrounding Iran.
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Federal Reserve Independence At Risk
- The DOJ opened a criminal probe of Fed Chair Jerome Powell, raising fears about politicizing monetary policy.
- Powell warned the investigation threatens the Fed's ability to set rates based on evidence rather than political pressure.
Heated Fed Renovation Exchange
- President Trump publicly disputed Fed renovation cost figures during a tour with Jerome Powell.
- The exchange highlighted confusion over which costs were being reported and fueled the president's criticism of Powell.
Massive Federal Immigration Surge In Minneapolis
- The administration surged thousands of immigration agents into Minneapolis amid protests after an ICE-involved fatal shooting.
- Federal deployments continued despite local officials' objections and follow a broader immigration crackdown strategy.
