DOJ probes Powell, markets slide, Trump pushes new policies 1/12/26

Taking on the Fed. Chair Jerome Powell confirms the central bank has received grand jury subpoenas from the Justice Department — a dramatic escalation in President Trump’s fight with the Federal Reserve. The president says he’s unaware of the probe. Plus, Wall Street reacting fast, futures sinking and gold jumping to new highs. And later, the president’s push to cap credit card rates and home prices. We speak with the CEOs of Klarna and Better Finance. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.