Pod Save America Trump Targets Minneapolis, the Fed, and Greenland
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Jan 13, 2026 
Lael Brainard, the former Vice Chair of the Federal Reserve, joins the discussion. She emphasizes the critical importance of Fed independence and explains how political pressure can harm economic stability. The conversation dives into the unprecedented investigation into Jerome Powell, where Brainard highlights past global examples of politicizing central banks and the inflation consequences that followed. She also discusses market reactions and why citizens should prioritize understanding the Fed's role in their financial future.
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Investigation Threatens Fed Independence
- The DOJ's probe of Fed Chair Jerome Powell signals political pressure to force monetary policy to match the president's wishes.
- Undermining Fed independence risks long-term inflation and economic instability, not just a personnel fight.
Powell Reframes The Probe As Retaliation
- Powell framed the investigation as retaliation for refusing to cut rates to please Trump rather than a narrow renovation dispute.
- That reframing made the story a referendum on politicizing monetary policy, increasing its political salience.
Republican Pushback Could Constrain Trump
- Bipartisan Republican pushback (e.g., Tom Tillis, Lisa Murkowski) shows the probe could block any Trump Fed nominee.
- Markets may assume institutional brakes will prevail, which helps explain limited initial market reaction.