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7:50 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 …
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.
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.”
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 …
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.
Punchbowl News:
1/12/26 ☀️ AM: … This is a long-feared and unwelcome chapter in the battle between President Donald Trump and “independent” federal agencies.  —  The criminal probe is focused on allegations that Powell lied to Congress about long-running renovations of Federal Reserve office buildings …
Discussion: France 24
NBC News:
Federal Reserve hit with DOJ subpoenas in criminal probe over Chair Jerome Powell testimony  —  “The threat of criminal charges is a consequence of the Federal Reserve setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the President,” Powell said.
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:
Politico:
Trump to be briefed on range of options in Iran
Wall Street Journal:
U.S. Steps Up Planning for Possible Action 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, Raw Story and CNBC
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:
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 …
CNN:
DHS Secretary Noem defends her statements made hours after deadly ICE shooting  —  CNN's Jake Tapper speaks with Department of Homeland Security Secretary Kristi Noem to break down the timeline of events before and after an ICE agent shot and killed Renee Nicole Good in Minneapolis, as well as the Trump administration's response.
RELATED:
Jake Tapper / CNN:
GOP Sen. Mullin defends Trump admin's response to deadly ICE shooting
Discussion: The Hill, NewsMax.com and Raw Story
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:
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
Joseph Politano / Apricitas Economics:
The ‘No Hire’ Economy  —  US Job Growth has Zeroed Out as Hiring Rates Sink, Hitting Young & Low Income Workers the Hardest  —  Thanks for reading!  If you haven't subscribed, please click the button below:  —  By subscribing, you'll join over 75,000 people who read Apricitas!
Discussion: Townhall
RELATED:
Stuart Anderson / Forbes:   The U.S.-Born Unemployment Rate Rose After Trump Reduced Immigration
Michael Gold / New York Times:
After Minnesota Shooting, ICE Again Limits Congressional Visits  —  The new guidelines for immigration facilities, issued by Kristi Noem, the homeland security secretary, are virtually identical to a policy that a federal judge halted last month.  —  The day after an immigration officer shot …
RELATED:
Axios:
Behind the Curtain: The Haves, Have-Nots, Have-Lots economy  —  The nation is splitting into three distinct economic realities: the Have-Nots (stalling) ... the Haves (coasting) ... and the Have-Lots (rocketing to greater wealth). … It's about a structural shift where the growing number …
Heather Cox Richardson / Letters from an American:
January 11, 2026  —  The news has seemed to move more and more quickly in the last week.  —  The story underlying all others is that the United States Congress passed a law requiring the Department of Justice to release all the Epstein files—the files from the Federal Bureau …
New York Times:
Trump Regrets Not Seizing Voting Machines After 2020 Election  —  In an interview, the president said he should have ordered the National Guard to take the machines to find evidence of fraud, but added that the Guard might not have had the sophistication to do so.
Discussion: Washington Post
 
 
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 More Items: 
Erica L. Green / New York Times:
Trump Says Civil Rights Led to White People Being ‘Very Badly Treated’
Associated Press:
Protesters try to attack driver after truck speeds through anti-Iran demonstration in Los Angeles
ABC News:
‘This Week’ Transcript 1-11-26: Sen. Tina Smith & Sen. Rand Paul
Discussion: RealClearPolitics and NewsMax.com
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
Steve Schmidt / The Warning with Steve Schmidt:
Stephen Miller and the ICE Nazis
Discussion: Raw Story and Mediaite
 Earlier Items: 
Julie Tsirkin / NBC News:
Trump threatened GOP senators who voted for War Powers resolution in ‘angry’ calls
Discussion: Bloomberg and Al Jazeera
Tyler Pager / New York Times:
'I Think We Don't Like Them': Trump Says MAGA Has No Room for Antisemites
Discussion: Breitbart
Haley Cohen / Jewish Insider:
Jackson's only synagogue targeted in arson attack
Will Bunch / The Philadelphia Inquirer:
Trump now a tyrant restrained only by ‘my own morality.’ We stop him with our own.
Discussion: The Guardian
Letters / Augusta Free Press:
Vanishing act: How UVA's presidential search missed what took us an hour to find
Minho Kim / New York Times:
Trump Administration Live Updates: Noem Says ‘Hundreds More’ Agents Will Be Sent to Minnesota Over ‘Corruption’
Discussion: Politico