Criminal Probe Into Fed Chair Powell, Homan's Warning on ICE, MN Fraud Admissions: AM Update 1⧸12
Episode Stats
Words per Minute
157.40291
Summary
Jerome Powell confirms he s under criminal investigation by the DOJ, as state and local lawmakers react to the shooting death of a woman resisting arrest who was accelerating toward an ICE agent. President Trump eyeing possible military action in two countries, and the College Football Playoff Championship Teams are set, featuring one of the most unique star players in years. All that and more coming up in a moment on your AM Update.
Transcript
00:00:00.120
Martha listens to her favourite band all the time.
00:00:10.080
Martha bundled her flight and hotel on Expedia to see them live.
00:00:13.260
She saved so much, she got her seat close enough to actually see and hear them.
00:00:34.860
It's Monday, January 12th, 2026, and this is your AM Update.
00:00:39.680
Federal Reserve Chairman Jerome Powell confirms he's under criminal investigation by the DOJ.
00:00:51.440
As state and local lawmakers inflamed tensions in Minnesota following the shooting death
00:00:55.980
of a woman resisting arrest who was accelerating her car toward an ICE agent,
00:01:01.160
border czar Tom Homan calling on the left to turn down the temperature.
00:01:05.500
Obviously, everybody could have done more to prevent fraud.
00:01:10.400
Minneapolis Mayor Jacob Frye forced to admit there's a real fraud problem in his city
00:01:17.620
President Trump eyeing possible military action in two countries and the college football playoff
00:01:24.020
championship teams are set, featuring one of the most unique star players in years.
00:01:29.460
All that and more coming up in just a moment on your AM Update.
00:01:32.660
If your credit card balance is freaking you out after all the holiday spending, I mean, right?
00:01:41.680
I have something that can save you money right now.
00:01:44.180
You could cut your cell phone bill in half by switching to Pure Talk's Saver Plan.
00:01:49.220
Just $20 a month for unlimited talk, text, and three gigs of high-speed data
00:01:54.020
on Pure Talk's super-fast nationwide 5G network.
00:01:57.300
And as a veteran-led company that cares about giving back to those who serve,
00:02:00.840
if you are active or former military or a first responder,
00:02:04.500
you're going to save an additional 20% every single month.
00:02:08.780
The easiest way to free up cash flow is to reduce your monthly recurring bills.
00:02:12.840
Start by cutting overpriced wireless and consider switching to Pure Talk.
00:02:17.900
Go to puretalk.com slash Kelly and make the switch today in as little as 10 minutes.
00:02:23.280
Again, talk, text, and data for just $20 a month.
00:02:26.820
That's puretalk.com slash Kelly, and you will save an additional 50% off your first month.
00:02:37.680
Prosecutors opening a criminal investigation into Federal Reserve Chairman Jerome Powell
00:02:42.780
over statements regarding the renovation of the bank's D.C. headquarters.
00:02:47.720
The New York Times reporting the inquiry, approved by U.S. Attorney for D.C. Janine Pirro in November,
00:02:52.860
focuses on whether Powell lied to Congress about the scope of the project.
00:02:57.920
In 2017, the Fed receiving approval for the work, estimated to run about $1.7 billion,
00:03:04.220
cost projections now climbing to about $2.5 billion.
00:03:08.580
Powell last night in a video posted to social media, looking rattled, confirming the probe
00:03:13.640
and saying it's tied to his June congressional testimony.
00:03:17.500
Powell says it's merely a pretext related to his fight with President Trump over interest rates.
00:03:22.860
I have deep respect for the rule of law and for accountability in our democracy.
00:03:28.100
No one, certainly not the chair of the Federal Reserve, is above the law.
00:03:32.120
But this unprecedented action should be seen in the broader context of the administration's threats
00:03:38.920
This new threat is not about my testimony last June
00:03:42.060
or about the renovation of the Federal Reserve buildings.
00:03:47.740
The Fed, through testimony and other public disclosures,
00:03:51.180
made every effort to keep Congress informed about the renovation project.
00:03:57.320
The threat of criminal charges is a consequence of the Federal Reserve setting interest rates
00:04:02.040
based on our best assessment of what will serve the public,
00:04:05.860
rather than following the preferences of the President.
00:04:08.880
Public service sometimes requires standing firm in the face of threats.
00:04:12.700
I will continue to do the job the Senate confirmed me to do,
00:04:16.920
with integrity and a commitment to serving the American people.
00:04:21.580
Since taking office last January, President Trump waging a public pressure campaign,
00:04:28.580
The Fed ultimately voting to lower rates three times last year,
00:04:32.160
each move criticized by President Trump as too late and not drastic enough.
00:04:36.320
The Federal Reserve is a quasi-independent body with a unique status,
00:04:40.940
meaning the Fed chair, while nominated by the President,
00:04:46.120
Concerns over ballooning costs of the Fed's headquarters reaching a fever pitch in July,
00:04:51.120
with President Trump visiting the construction site,
00:05:03.200
At least 30 people arrested over the weekend in Minneapolis
00:05:08.460
as residents take to the streets protesting ICE
00:05:18.740
State and local officials leaping to condemn the agent and ICE
00:05:22.400
and continuing to misrepresent what actually happened.
00:05:26.820
Minneapolis Mayor Jacob Fry, a Democrat, yesterday on NBC.
00:05:30.500
The ICE agent was not run over, as Trump stated.
00:05:35.480
You had a person that was definitively trying to just get out of there.
00:05:44.020
That is not a person that's trying to run an ICE agent over.
00:05:47.920
You have a person that is trying to protect our city,
00:05:55.700
like, for instance, did the ICE agent get run over?
00:06:02.680
That agent is heard on tape exclaiming in alarm
00:06:05.960
as the vehicle clearly hits him before he opened fire,
00:06:15.720
later seeking treatment at the hospital for a hip injury,
00:06:19.000
which the mayor denigrated in a press conference, quote,
00:06:27.380
describing the impact of the incident Saturday on the Dr. Phil podcast.
00:06:53.240
This officer is not in a good spot emotionally for his family.
00:07:00.680
I mean, any law enforcement officer who uses any sort of...
00:07:09.240
if you're about to put hands on somebody and take them down,
00:07:13.200
Last week's incident marking the second encounter
00:07:18.040
An illegal alien child molester over the summer
00:07:29.720
Homeland Security Secretary Kristi Noem yesterday on CNN
00:07:39.320
over a hundred times in the last several months
00:07:43.640
So they definitely know that the threat is real,
00:07:48.900
to go out and to impede their law enforcement operations
00:07:52.900
and try to run them over and drag them and not stop.
00:08:00.000
and that's what their training prepares them for.
00:08:15.680
to record, to create the level of accountability
00:08:26.260
is ICE agents oftentimes jumping out of their cars.
00:09:03.620
every single time these actions are taking place.
00:09:24.560
which means there's gonna be more incidents like this
00:09:47.880
It's because of the rhetoric, the hateful rhetoric.
00:09:56.760
and they're Nazis and they're disappearing people.
00:10:06.780
motivated in part to investigate widespread fraud
00:10:15.180
that prosecutors estimate totals at least $9 billion
00:10:23.920
a Democrat in early January, dropping his re-election bid.
00:10:28.180
NBC yesterday asking Minneapolis Mayor Jacob Fry,
00:10:31.540
an emphatic critic of the Trump administration,
00:10:47.000
Him and I, we've been through thick and thin...
00:10:53.400
Look, obviously, everybody could have done more
00:10:59.200
He's setting up a whole bunch of infrastructure