Serious Trouble You Are Not Jay Powell
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Jan 16, 2026 Jerome Powell faces scrutiny over a criminal probe aimed at the Fed's independence, sparking intense debate. The duo dissects his public response and legal strategy amid the fallout. Meanwhile, Minnesota's lawsuit challenges federal actions by ICE, raising questions about state rights and local impact. The escalation of tensions between state and federal authorities points to a potential legal showdown. Additionally, they explore upheaval within U.S. Attorney offices, highlighting the intersection of crime, race, and political dynamics.
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Don't Talk About Ongoing Investigations
- Avoid speaking publicly about an active criminal investigation unless you have unique political cover and legal counsel.
- Jay Powell could speak because his position and counsel reduced the risk, but most people should stay silent.
Framing Beats Substance In Political Probes
- Powell avoided addressing substance and instead framed the probe as a political attack to protect Fed independence.
- That approach shifted public backlash onto the administration rather than Powell's conduct.
Probe Reveals Administration Fractures
- The subpoena episode exposed intra-administration divisions and raised questions about prosecutorial motives.
- It created political fallout and scrutiny of whether the D.C. U.S. attorney acted independently or at the president's behest.