The Munk Debates Podcast Munk Dialogue with Andrew Coyne: Jerome Powell stands up to Trump and why the West is reluctant to intervene in Iran
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Jan 13, 2026 Andrew Coyne, a Canadian journalist known for his sharp political insights, delves into the implications of the Justice Department's investigation into Jerome Powell, the Federal Reserve Chair. He argues that this case exemplifies political intimidation under Trump's administration. Coyne emphasizes the importance of central bank independence and warns of dire consequences if it's undermined. The discussion also touches on the West's hesitant stance on intervening in Iran, raising critical questions about the human cost of inaction amid ongoing protests.
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Justice Department As Political Tool
- The DOJ's criminal probe of Jerome Powell reads as political weaponization rather than a credible legal case.
- Andrew Coyne argues the move fits a broader Trump tactic of using state instruments to intimidate opponents.
Central Bank Independence Matters
- Independent central banks underpin decades of low and stable inflation that supported prosperity.
- Coyne stresses democratic accountability remains via elected governments setting broad policy while central banks handle day-to-day operations.
Personal Comparison To Coyne Affair
- Andrew Coyne compares the Powell episode to his father's clash with Diefenbaker over the Bank of Canada.
- He notes both involved end-of-term tensions but differed in substance and motive.
