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8:55 AM ET, January 12, 2026

memeorandum

 Top Items: 
Board of Governors of the Federal Reserve System:
Statement from Federal Reserve Chair Jerome H. Powell  —  Good evening.  —  On Friday, the Department of Justice served the Federal Reserve with grand jury subpoenas, threatening a criminal indictment related to my testimony before the Senate Banking Committee last June.
RELATED:
New York Times:
Federal Prosecutors Open Investigation Into Fed Chair Powell  —  The investigation, which is said to center on renovations of the Federal Reserve's headquarters in Washington, signals an escalation in the long-running clash between President Trump and the chair.
Bloomberg:
Bill Pulte Seen as Key Instigator Behind Powell Subpoena  —  Federal Housing Finance Agency Director Bill Pulte was a driving force behind the Trump administration's decision to subpoena the Federal Reserve, according to people familiar with the matter, intensifying pressure on the central bank …
NBC News:
'I don't know anything about it': Trump denies involvement in DOJ's Fed subpoenas  —  In a brief interview with NBC News Sunday, Trump said he didn't know about the Justice Department subpoenaing the Federal Reserve but said chair Jerome Powell is “not very good.”
Amara Omeokwe / Bloomberg:
Fed Served With DOJ Subpoenas, Powell Vows to Stand Firm  —  Federal Reserve Chair Jerome Powell said the US central bank had been served grand jury subpoenas from the Justice Department threatening a criminal indictment, a dramatic escalation of the Trump administration's attacks on the Fed.
Politico:
DOJ opens probe into Fed's Powell, drawing backlash from lawmakers … “This new threat is not about my testimony last June or about the renovation of the Federal Reserve buildings,” he added in a video message.  “It is not about Congress's oversight role; the Fed, through testimony …
Discussion: Fortune, Bloomberg and Cafe Hayek
Politico:
Fed up  —  Good Monday morning.  This is Jack Blanchard.  Get in touch.  —  LOOK WHO'S BACK: Elon Musk takes another step toward full rehabilitation within the Trump administration today, appearing in public alongside Defense Secretary Pete Hegseth in Texas.
Heather Cox Richardson / Letters from an American:   The news has seemed to move more and more quickly in the last week. …
Dan Mangan / CNBC:
Fed Chair Powell says he's under criminal investigation, won't bow to Trump intimidation
Barak Ravid / Axios:
Trump says he's looking at “very strong options” for supporting Iran protests  —  President Trump said on Sunday that he is looking at “very strong options” when is comes to supporting the protest movement in Iran. … Trump said publicly that he was willing to use military force if the Iranian regime killed protesters.
RELATED:
Stephen Collinson / CNN:
Trump purges ‘lame duck’ claims with brute force, retribution and play for global domination
Discussion: Raw Story
Wall Street Journal:
U.S. Steps Up Planning for Possible Action in Iran
Politico:
Trump to be briefed on range of options in Iran
Annie Linskey / Wall Street Journal:
Trump ‘Inclined’ to Keep Exxon Out of Venezuela  —  President says he didn't like comments from company's CEO during a meeting Friday at the White House  —  WASHINGTON—President Trump said he might block Exxon Mobil from drilling in Venezuela after the company's top executive publicly acknowledged …
Discussion: Paul Krugman and Raw Story
RELATED:
Associated Press:
Celebrities wear pins protesting ICE on the Golden Globes red carpet  —  Some celebrities donned anti-ICE pins at the Golden Globes on Sunday in tribute to Renee Good, who was shot and killed in her car by an Immigration and Customs Enforcement officer this week in Minneapolis.
RELATED:
Elena Schneider / Politico:
Former Rep. Mary Peltola jumps into Alaska Senate race … “Systemic change is the only way to bring down grocery costs, save our fisheries, lower energy prices and build new housing Alaskans can afford,” Peltola said.  “It's about time Alaskans teach the rest of the country what Alaska First and, really, America First looks like.”
Julia Mueller / The Hill:
Supreme Court could dramatically alter US election landscape  —  The Supreme Court could reshape U.S. elections for years to come as it hears a number of cases with implications for the country's political landscape.  —  In perhaps the most high-stakes example, the country is waiting …
RELATED:
New York Times:
The Battle Over House Maps Spills Into 2026, Where an X-Factor Awaits
Discussion: The Hill
Washington Post:
Trump is trying to change how the midterm elections are conducted … Five years ago, President Donald Trump pressured Republican county election officials, state lawmakers and members of Congress to find him votes after he lost his reelection bid.  Now, he's seeking to change the rules before ballots are cast.
RELATED:
New York Times:   Trump Regrets Not Seizing Voting Machines After 2020 Election
Noah Berlatsky / Public Notice:
Republicans in Congress show signs of life  —  PN is supported by paid subscribers.  Become one ⬇️  —  ✌️ Subscribe to PN ✌️  —  The new year so far has been a miserable chronicle of democratic collapse and authoritarian brutality.
RELATED:
Julie Tsirkin / NBC News:
Trump threatened GOP senators who voted for War Powers resolution in ‘angry’ calls
Chan Ho-him / Associated Press:
China and the EU agree on steps to resolve their dispute over EV imports  —  China and the European Union said Monday they have agreed on steps toward resolving their dispute over the bloc's imports of Chinese-made electric vehicles.  A “guidance document” released by the EU on Monday gives instructions …
Discussion: Gulf Stream Blues
Financial Times:
Gold hits record high on worries over Fed independence  —  Dollar weakens and Wall Street futures fall after US prosecutors launch criminal investigation into chair Jay Powell  —  Gold rose to a record high and the dollar and Wall Street futures fell on Monday after US prosecutors launched …
Judd Legum / Popular Information:
Kill, smear, cover-up  —  On January 7, Renee Good, a 37-year-old mother and U.S. citizen, was fatally shot by ICE agent Jonathan Ross in Minneapolis.  After her death, Good was subjected to a vicious smear campaign by the President, the Vice President, administration officials, and their allies.
Discussion: BBC
Raquel Coronell Uribe / NBC News:
National Portrait Gallery makes changes to Trump part of 'America's Presidents' exhibit  —  The new photo was taken by White House photographer Daniel Torok, a museum spokesperson said.  —  The Smithsonian's National Portrait Gallery has replaced a photo of President Donald Trump and reportedly …
Discussion: Washington Post
RELATED:
Jeffrey M. Jones / Gallup:
New High of 45% in U.S. Identify as Political Independents  —  More independents lean Democratic than Republican, giving Democrats edge in party affiliation for first time since 2021  —  WASHINGTON, D.C. — A record-high 45% of U.S. adults identified as political independents in 2025 …
Discussion: Semafor
Dexter Filkins / New Yorker:
How Marco Rubio Went from “Little Marco” to Trump's Foreign-Policy Enabler  —  As Secretary of State, the President's onetime foe now offers him lavish displays of public praise—and will execute his agenda in Venezuela and around the globe.  —  Just after midnight on January 3rd …
Discussion: Orlando Sentinel
 
 
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 More Items: 
New York Times:
Two Hours, Scores of Questions, 23,000 Words: Our Interview With President Trump
Discussion: DEEPER LOOK …
David Catron / The American Spectator:
The Media Are Agents of Propaganda
Discussion: The Hill
Olivia Beavers / Wall Street Journal:
GOP Stock-Trading Crackdown Gains Momentum
Discussion: The Virginian-Pilot
Politico:
‘Brace for impact’: Trump turns fraud into new weapon against blue states
Discussion: Raw Story
Erica L. Green / New York Times:
Trump Says Civil Rights Led to White People Being ‘Very Badly Treated’
Axios:
Behind the Curtain: The Haves, Have-Nots, Have-Lots economy
CNN:
DHS Secretary Noem defends her statements made hours after deadly ICE shooting
 Earlier Items: 
Associated Press:
Protesters try to attack driver after truck speeds through anti-Iran demonstration in Los Angeles
Sophie Gardner / Politico:
RFK Jr.'s theories about vaccines are about to be tested
Alex Thompson / Axios:
Emanuel targets GOP and Dems as he tests 2028 campaign
Haley Cohen / Jewish Insider:
Jackson's only synagogue targeted in arson attack
Letters / Augusta Free Press:
Vanishing act: How UVA's presidential search missed what took us an hour to find