Squawk Pod Investigating the Federal Reserve: Kevin Hassett & Sen. Mark Warner 1/12/26
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Jan 12, 2026 
Kevin Hassett, former economic adviser to President Trump, discusses the Federal Reserve's independence and its approach to inflation. He highlights the need for introspection within the Fed and credits Trump’s policies for economic growth. U.S. Senator Mark Warner provides insights on the ongoing investigation into Federal Reserve Chair Jerome Powell, warning against political interference in monetary policy. He also touches on immigration enforcement and critiques arbitrary caps on credit card interest rates. Together, they explore critical economic policies and their implications.
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Investigation Framed As Potential Political Pressure
- The DOJ served grand jury subpoenas to the Fed about Powell's testimony on the renovation.
- Powell says the probe is a pretext to pressure the Fed on interest-rate policy.
High Legal Bar For Perjury Claims
- Prosecutors must show testimony statements were materially false and made knowingly to charge perjury.
- That legal standard makes an indictment legally challenging and politically risky.
Powell Appears Resolute
- Fed officials describe Powell as resolute and confident amid the subpoenas.
- Insiders don't expect Powell to capitulate to pressure on his position.