U.S. Prosecutors Investigate Fed Chair Powell

January 12, 2026

AI Summary

5 min read

The Format: Fast-paced daily news briefing podcast delivering top headlines in business, politics, and global affairs, with short expert analysis segments.
The Key Players:
- Host: Luke Vargas, WSJ reporter anchoring the AM edition of What's News, guiding through stories with crisp transitions.
- Experts: Alex Frangos (Journal finance editor) on Fed drama; Alex Ward (National Security Reporter) on Iran; brief clips from officials like DHS Secretary Christy Gnome and Minneapolis Mayor Jacob Frey.
The Vibe: Tense and professional—urgent undertones from political power struggles, market jitters, and international flashpoints, but delivered with journalistic neutrality.

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1 (01:00) **Justice Department Probes Fed Chair Jerome Powell**
2 (05:13) **Iran Protests and Potential US Response**
3 (08:12) **Federal Immigration Crackdown in Minnesota**
4 (10:14) **Trump Eyes Blocking Exxon from Venezuela Oil**
5 (10:58) **House GOP Backs Congressional Stock Trading Ban**
6 (11:30) **Trump Proposes 10% Cap on Credit Card Rates**

+ Full timestamped outline available in the app

A.M. Edition for Jan. 12. The Justice Department is threatening Federal Reserve Chair Jerome Powell with a criminal indictment, in what Powell is calling an attack on the central bank’s independence. WSJ finance editor Alex Frangos discusses how markets are reacting and what the investigation means for the Fed’s future leaders. Plus, President Trump mulls intervention in Iran as anti-regime protest deaths rise. And bank stocks sag after Trump calls for capping credit-card interest rates. Luke Vargas hosts.

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