Pivot Fed Chair Investigation, Trump's Oil Deals, and California's Proposed Wealth Tax
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Jan 13, 2026 Scott finally addresses his recent absence and cosmetic surgery, revealing trends in men's plastic surgery. The duo dives into the DOJ's investigation of Fed Chair Jerome Powell and the significance of Fed independence. Trump’s pressure on oil executives to invest in Venezuela is examined, highlighting the unattractiveness of the country for big oil. They also discuss California's proposed wealth tax, the exodus of billionaires, and critique the effectiveness of wealth taxes. Finally, they celebrate recent military successes against a backdrop of discussing media bias and moral color codes.
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Surgery, Recovery, And Unexpected Gratitude
- Scott Galloway described getting cosmetic surgery and recovery at Pearl Recovery, praising the immigrant nurses who cared for him.
- He used the experience to reflect on insecurity, ageism, and gratitude for hardworking caregivers.
Attack On Powell Undermines Fed Independence
- The DOJ probe into Jerome Powell risks politicizing the Fed and undermining central bank independence.
- Scott argues Powell's measured response strengthened his standing and reduced chances of resignation.
Powell's Influence Outlives His Chairmanship
- Even if Powell loses the chair role, his continued presence on the Fed board would preserve institutional resistance to politicized rate cuts.
- Scott sees Powell's ongoing influence as a key deterrent to pressure from the White House.