NPR News: 01-12-2026 3AM EST
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What is the main topic discussed in this episode?
Live from NPR News, I'm Dale Willman.
What recent actions has the Federal Reserve taken regarding interest rates?
Federal Reserve Chair Jerome Powell says the Justice Department has served the central bank with subpoenas and threatened the central bank with a criminal indictment. At issue is Powell's testimony about building renovations at the Fed. But in a video statement released Sunday, Powell says the real issue is Trump's efforts to control the nation's interest rates.
The threat of criminal charges is a consequence of the Federal Reserve's setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the president. This is about whether the Fed will be able to continue to set interest rates based on evidence and economic conditions, or whether instead monetary policy will be directed by political pressure or intimidation.
The Fed is an independent agency Trump has repeatedly attacked for not lowering key interest rates more quickly. President Trump has not yet been able to convince oil company executives that they should return to Venezuela to tap into that country's massive oil reserves. Ampere's Mark Liason has more.
President Trump has claimed that U.S. oil companies are ready to spend $100 billion or more to rebuild Venezuela's oil industry. But on Friday, when the president met with U.S. oil executives at the White House, not all of them were as enthusiastic as Trump. The CEO of Exxon told the president that at this time, Venezuela is, quote, uninvestable. Venezuela has the world's largest crude oil reserves, but its infrastructure has deteriorated since it nationalized its oil industry 20 years ago. and expelled most American oil companies operating there at the time. Mara Liason, NPR News.
The European Union's top defense official says it's time for the bloc to set up its own Security Council. As Terry Schultz reports, the EU's commissioner says the uncertainty of Europe's relationship with the U.S. makes such a move much more urgent.
EU Defense Commissioner Andreas Kubilius says Europe is under pressure, mentioning the new U.S. security strategy, which de-emphasizes the transatlantic relationship, President Trump's intervention in Venezuela, and his intention to take over Greenland.
The times of Pax Americana is over. We need to be defense-ready inside NATO, but with much less American presence in Europe.
Kobilius is renewing earlier proposals to create a European version of the UN Security Council, with rotating membership and possible participation of the UK.
I believe it's now an urgent task to turn this idea into reality.
He says the first priority for the new body would be to increase support for Ukraine. For NPR News, I'm Terry Schultz in Brussels.
International human rights activists say that the death toll in Iran during protests there has now reached at least 544 after more than a week of protests. People have been protesting the state of the country's economy. President Trump has threatened Iran with possible attacks if it keeps killing civilians. But Tehran has warned that Israel and the U.S. military would be legitimate targets if that happens. This is NPR News. President Trump Sunday warned Cuba to make a deal before it's too late. Cuba was a major recipient of oil from Venezuela, but that supply was cut off after the U.S. detained Venezuela's president. Trump, however, did not explain what sort of deal he had in mind. Cuba's president responded to Trump's comments, saying those who turn everything into a business have no moral authority to point the finger at Cuba.
It was a big night for the big screens, one battle after another, at the 83rd Golden Globe Awards Sunday night. And P.S. Bob Mondello has our details.
The Globes are widely thought to be the splashiest party of Hollywood's awards season, but they haven't always been known for seriousness. This year felt different. Paul Thomas Anderson's ferociously political satire, One Battle After Another, took home four Globes in the comedy or musical category, including Best Picture, Screenplay, Director, and Supporting Actress for Tiana Taylor.
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