Jerome Powell Fights DOJ Criminal Investigation & Are Retailers Watching You Shop?
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What is Jerome Powell's involvement in the DOJ investigation?
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Good morning, Brew Daily Show. I'm Neil Freiman. And I'm Toby Howell. Today, lawmakers and meme stock traders rally around Jerome Powell.
Then Alphabet just joined the $4 trillion market cap club. It's Tuesday, January 13th. Let's ride.
Good morning. It's time to start getting excited for the Winter Olympics, which begins in just a few weeks from Northern Italy. And for any skating fans out there, you're going to be in for a treat. On Sunday, Team USA announced one of the strongest American figure skating teams in history, anchored by four-time national champ Ilya Malinin, a.k.a.
How does the DOJ's investigation affect the Federal Reserve's independence?
the Quad God, and the ice dance duo of Madison Chalk and Evan Bates. Toby, you think you can land a triple sow cow?
Uh, Neil, yes, I think I can. Now, can I? No. I'm a little bit more concerned about a different ice sport, though, because the venue that houses the Olympic hockey rink is still unfinished. A reporter from The Athletic visited and described it as being in a state of construction chaos with workers literally walking around with hard hat and vests on. The refs at one point had to stop an exhibition match to fix a hole in the ice, and the scoreboard inside the arena was so small that during this test this past week, The players could not see how much time was left when they were playing. So in addition to the quad god, I hope Italian officials can land the trick of getting the dang hockey arena ready for the NHLers that are coming over.
Yeah, it seems to be the big drama coming into the winter games is will this ice hockey arena be ready in time? The race is on until February. And now a word from our sponsor, Indeed. Toby, how do you feel growth? So much protein. And that's why our studio smells like that. Anyway, we'll be at the World Economic Forum's annual meeting in Davos next week. Indeed, we'll be there too, giving business leaders the inside scoop on all things hiring.
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What are the reactions to Jerome Powell's video statement?
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I'm not sure what Jerome Powell expected when he posted a two-minute video Sunday night, but it's landed like an asteroid and the fallout is just beginning. Politicians, analysts, and probably even your family group chat have all been weighing in after the central bank boss ripped into President Trump in a video two evenings ago. In that shocking clip, which now has more than 60 million views on X, Powell said that he's been criminally investigated by the DOJ over his comments on a Fed renovation project that's gone over budget. He claimed the construction story was a pretext for Trump, not a Powell fan, to weaponize the legal system against him over interest rate disagreements. Here's Jay.
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.
The video has set off a titanic clash over the future of Fed independence, what economists consider the bedrock of America's world-class financial markets.
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Chapters
8 chapters
1
What is Jerome Powell's involvement in the DOJ investigation?
0:01–1:15
2
How does the DOJ's investigation affect the Federal Reserve's independence?
1:15–2:49
3
What are the reactions to Jerome Powell's video statement?
2:49–7:04
4
How is Apple collaborating with Google to enhance AI products?
7:04–8:33
5
What impact does the Apple-Google partnership have on Siri's functionality?
8:33–11:06
6
Why are retailers using facial recognition technology?
11:06–12:39
7
What privacy concerns arise from facial recognition in retail?
12:39–13:38
8
How does the app 'Are You Dead?' reflect societal changes in China?
13:38–27:58
Speakers
4 identifiedMore from Morning Brew Daily
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