Transcript

Trump has CATASTROPHIC DAY as GOP Senators TURN AGAINST HIM

From MeidasTouch · Episode page · Watch on YouTube

· 15 min · 2,514 words · 25 timestamped sections

This is the full, timestamped transcript of "Trump has CATASTROPHIC DAY as GOP Senators TURN AGAINST HIM", an episode of MeidasTouch published January 12, 2026 (15 min, about 2,514 words). It mentions 13 people, works and ideas, including Federal Reserve, Thom Tillis, Department of Justice, Jared Bernstein, Alan Greenspan.

What this episode is about

Donald Trump is facing intense backlash from GOP senators as his attempt to initiate a criminal investigation into Federal Reserve Chairman Jerome Powell backfires, with calls for an investigation into Trump's Department of Justice instead. Amidst this turmoil, Trump makes controversial social media claims about saving NATO and poses as the acting president of Venezuela, drawing sharp criticism from Democratic leaders and former officials across party lines who defend Powell.

Key takeaways

  • Trump's emotional rollercoaster: accusing Powell while GOP demands DOJ investigate its own investigation.
  • Who saved NATO? In Trump's world, it's a game of 'pick your own facts' amid geopolitical chaos.
  • The Fed chair's independence is in jeopardy; meanwhile, the economy watches nervously from the sidelines.
  • Political trolling at its finest: Trump's investigation call may just be his latest social media stunt.
  • Republicans unite against Trump’s DOJ investigation, proving bipartisan consensus can emerge when the Fed is threatened.

Who speaks in this episode?

What is discussed, and when

  1. – 3:00: Federal Reserve, Alan Greenspan, Jared Bernstein
  2. – 6:00: Department of Justice, Thom Tillis, Federal Reserve, Roger Marshall
  3. – 9:00: IQ Bar, Federal Reserve
  4. – 12:00: Sherry Biggs

Notable quotes from "Trump has CATASTROPHIC DAY as GOP Senators TURN AGAINST HIM"

  • Morning as his effort to launch a criminal investigation into the chairman of the Federal Reserve, Jerome Powell, who he appointed is backfiring in his face. We're now hearing…
    about Federal Reserve · at
  • You have everybody from Ben Bernaki who served two terms as chair of the Fed, Jared Bernstein, chair of the Council of Economic Advisors under Biden, Jason Ferman, chair of the…
    about Jared Bernstein · at
  • Treasury secretaries putting that out moments ago. As I mentioned yesterday, Republican Senator Tom Tillis said that it requires that there's now an investigation needed of the…
    about Thom Tillis · at
  • Until this is resolved. So, what are other MAGA Republicans saying? Well, MAGA Republican Senator Roger Marshall says, I don't think Donald Trump was being serious about this criminal investigation into Powell this morning.
    about Roger Marshall · at
  • This episode is brought to you by IQ Bar, our exclusive snack, hydration, and coffee sponsor. IQ Bar protein bars, IQ Mix hydration mixes, and IQ Joe mushroom coffees are delicious low sugar brain.
    about IQ Bar · at
  • MAGA Republican Congresswoman Sherry Biggs play this clip. And then at the same time, you've got Mayor Jacob Fry and Governor Tim Walls inflaming the situation once again by demonizing ICE.
    about Sherry Biggs · at

Who and what is mentioned in this episode?

People

Companies & orgs

  • Department of Justice — Company · 2 mentions · first at
    Republican Senator Tom Tillis said that it requires that there's now an investigation needed of the Department of Justice that its independence and credibility are in question.…

Concepts & topics

Sponsors

Full transcript with timestamps

Donald Trump is having an awful Monday morning as his effort to launch a criminal investigation into the chairman of the Federal Reserve, Jerome Powell, who he appointed is backfiring in his face. We're now hearing from Republicans who are demanding an investigation not into Powell, but into Trump's DOJ for its weaponization. Republicans demanding a criminal investigation into the DOJ for criminally investigating Jerome Powell. But Donald Trump's been on a rampage all morning. He's making posts like this. I'm the one who saved NATO, President DJT. Now, as Donald Trump threatens to invade Greenland, which has caused NATO nations to respond by potentially putting forces in Greenland to protect against a United States invasion, as Donald Trump has done more to break up the NATO alliance than in history, Donald Trump is saying that he saved NATO. Then Donald Trump uh is getting some instant rebuking to his

face from his post that he is now the acting president of Venezuela. You have Democratic Senator Amy Clolobachar said. So Trump is posting about being the acting president of Venezuela when he's not even acting like a president at home. That's for sure. Now, uh, the former, uh, chair members of the Federal Reserve and former Treasury secretaries, uh, put out the following statement. Former Fed chairs and Treasury secretaries put out a statement on Monday defending Jerome Powell after the Justice Department opened up this criminal investigation into Powell. So you have everybody from Ben Bernaki who served two terms as chair of the Fed, Jared Bernstein, chair of the Council of Economic Advisors under Biden, Jason Ferman, chair of the Council of Economic Advisors under Obama, Timothy Gitener, who served as the 75th Secretary of the Treasury under Obama as well as the president and chief executive officer of

the Federal Reserve Bank of New York. Alan Greenspan, Glenn Hubard, Jacob Lou, um Henry Pollson, who's Bush, his guy. So, you keep going down the list of all them. Republican, Democratic leaders in this area. Here's the statement that they put out. The Federal Reserve's independence and the public's perception of that independence are critical for economic performance, including achieving the goals Congress has set for the Federal Reserve of stable prices, maximum employment, and moderate long-term interest rates. The reported criminal inquiry into Federal Reserve Chair Jay Powell is an unprecedented attempt to use prosecutorial attacks to undermine the independence. This is how monetary policy is made in emerging markets with weak institutions with highly negative consequences for inflation and the functioning of their economies more broadly. It has no place in the United States whose greatest

strength is the rule of law which is at the foundation of our economic success. An unprecedented statement from Democratic and Republican Fed chairs and Treasury secretaries putting that out moments ago. As I mentioned yesterday, Republican Senator Tom Tillis said that it requires that there's now an investigation needed of the Department of Justice that its independence and credibility are in question. Of course, it is. This regime has been engaged in the most uh horrific criminal conduct that there is. The DOJ is covering up a child sex trafficking ring. And Tom Tillis said that he's holding up Donald Trump's nominees both in the Department of Homeland Security because Christy Gnome refuses to show up before Congress, but also now he's saying that he will put a hold on anyone Donald Trump wants to appoint to the Fed, whether it's the Fed chair vacancy or any other Fed position. And he's on the

banking uh committee in the Senate. He says, "Until this matter is legally resolved, Republican Senator Lisa Marowski just put out the following statement. After speaking with Chair Powell this morning, it's clear the administration's investigation is nothing more than an attempt at coercion. If the Department of Justice believes an investigation into Chair Powell is warranted based on project cost overruns, which are not unusual, then Congress needs to investigate the Department of Justice. The stakes are too high to look the other way. If the Federal Reserve loses its independence, the stability of our markets and the broader economy will suffer. My colleague, Senator Tillis, is right in blocking any Federal Reserve nominee until this is resolved. So, what are other MAGA Republicans saying? Well, MAGA Republican Senator Roger Marshall says, "I don't think Donald Trump was being serious about this criminal

investigation into Powell this morning." Roger Marshall says, "I just think this is the way Donald Trump trolls." It's like a trolling thing. You know, he's a troll. And so he's trolling by demanding that the DOJ launch a criminal investigation into Powell. And the DOJ is now opened up a grand jury criminal investigation into Powell. You know, trolling. Here, play this clip.

Is there really a reason for an investigation? Because, you know, a lot of people are looking at this and saying, "Well, wait a second. We know President Trump does not like J. Powell and we know that he's calling him stupid and that he hasn't cut rates fast enough. So, is this political or did Jay Powell break the law and mislead or lie to the Senate Banking Committee? And you say, "Well, Maria, we'll let the let the system play through here." Uh, I think there's other issues that we should be focused on. I think this is the president throwing out one more uh maybe he's even almost trolling here as well.

We got bigger issues to to go after than this one, though. Then you have Kevin Hasset, Donald Trump's national economic adviser, who many believe Donald Trump wants to appoint as the chair of the Federal Reserve. This guy's appointment would be disastrous. He's been wrong about like everything his entire career. And he goes, um, you know, well, if someone launched a criminal investigation of me, this is what Hassid says. I'm going to play the clip. He goes, if someone launched a criminal investigation of me, I wouldn't be worried. I would just say, "Okay, here are the documents. I have nothing to hide. So why is everybody worried that he's doing a criminal investigation into the chairman of the Federal Reserve?

Play this clip." I think that if you know I'm h you're sitting here in the White House and and somebody says, "Hey, Justice Department wants uh to look at all your emails or look at what you've been doing on this or that." Then I would welcome the opportunity to show them that I'm I'm fine, you know. And I also think that that's what I would expect of every government employee that you want government employees to sort of say, "Hey, yeah, here here's my proof that that there's you've been nothing like the Minnesota thing going on." And you know, anyway, but so uh it's part of government uh to have people look at you, inspectors general, and and check that what you're doing is completely on the up and up. And I think that it's part of the government here and at the Fed as well.

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That's truth to 64,000. Message and data rates may apply. See terms for details. Then Trump's other top economic guy, Peter Navaro, again, who's even worse than Kevin Hassid, if that's possible, says the following. Play this clip.

It was Joe Biden and Jay Pal that let the inflation genie out of the bottle. And so, and spare me this like, oh, Fed independent stuff. And Tom, tell us all that. Come on. That's a politicized body. and he's the worst chairman since Arthur Burns started running the the money pump for Richard Nixon for reelection. So, let's let's get to the bottom of this. But there's a lot of good stuff going on with President Trump. I also saw other MAGA Republican uh Congress members and senators on the morning shows as this morning trying to defend Trump regimes uh killing of Renee uh Nicole Good and the uh just the atrocities being committed by Trump's ICE and Border Patrol, Gustapo, Donald Trump's paramilitary for paramilitary forces. So now what Trump's magic offense, this is so disgusting. What they're they're going on the morning shows and saying, you know what really needs to happen? We need accountability

and arrests. We need for Governor Walls and Mayor Fry of Minneapolis, they need to be arrested because they're the ones causing all of this. It's their fault. They're provoking anger against ICE. I don't know. Maybe it's the fact that ICE and Border Patrol have been invading communities and they are arresting people who are just hardworking people trying to get by in this country and that that's what you're engaged in. You're engaged in these Gestapo tactics. Listen to what Congresswoman Sherry Bigs says. This is on state regime media.

MAGA Republican Congresswoman Sherry Biggs play this clip. And then at the same time, you've got Mayor Jacob Fry and Governor Tim Walls inflaming the situation once again by demonizing ICE. I'm sorry, but do you think it's long past due for these Democrat officials to be charged for clearly inciting violence against our federal agents? I mean, is there something that Congress can do to hold these people accountable?

Well, I certainly hope so, and I hope that'll be on the table for discussion this week as we um get back to work. You had Democratic Senator Warner on CNBC and here how here's how he talks about the lack of training of these ICE uh and Border Patrol Gustapo and he's speaking to the CNBC guy who's like the top MAGA one of like the the main MAGA hosts on CNBC. Play this clip.

But the idea that we're going to send in these ICE agents, by the way, Joe, do you realize ICE used to take 5 to 6 months to get trained? They've now lowered the training period to 47 days. Why 47 days? Because Donald Trump's the 47th president. Tell me that's a rational approach. I'm not I'm not obviously I'm not going to take that bait to say it's a rational approach but I'm just Joe you can't pick your

more from Senator Warner here about Trump's neverending wars and the fact that Trump just without congressional authorization Trump has actually engaged in multiple military attacks over the past year. Play this clip. Good thing

but but and I don't know what are you concerned this could be a forever war or I just got to say this

we got 20% of the fleet off the coast of Venezuela. The aircraft carrier that Gerald Ford that's supposed to be in the Middle East is off the coast of Venezuela. You know and I know you know American oil going in take a couple years to rebuild Venezuela's oil infrastructure. Is that fleet going to stay there for two years? What are the costs there? Remember the president's promise, it's not going to cost us a dime. Venezuelan oil is going to pay for it all. I don't know if that's happening. Remember, wasn't Donald Trump? I know he's your guy, but I thought he was going to be the Hold. But he was going to be the peace guy. He was going to be the peace guy.

Oh, but Joe, we know that he's not Andrew's guy. Let me just say my guy. Oh, let me just say this.

I'm America's guy. This guy was We've had American intervention in Syria, Iraq, Iran, Yemen, Nigeria, Venezuela, maybe Greenland, where he would blow up NATO. Did you see the Brits and the Germans are putting troops in Greenland because they want to try to send a message, don't attack Denmark, another NATO ally. How is this leading to price stability, bringing down cost, and now we got the frontal attack on the independence of the Fed? We

you probably went four. And then lastly, I'll show you Christine Gnome. I don't think this got enough attention, but when Chris, this is from Christine Gnomes yesterday with Jake Tapper. It was a disastrous interview for her, but there was one point that that stood out that I think it's important that we highlight that when she was shown the video of that officer Jonathan Ross, the murderer. is not even an officer. The murderer, Jonathan Ross, who killed Renee Nicole Good. Um, the Ice Gustapo guy. She and he go and the guy goes effing be he curses at her after he shoots her in the face three times. Watch Christine Omir. She smirks.

She finds this funny. She gets off on this. She finds the murder of an American citizen by Ice Gustapo to be funny. Play this clip. Is that Agent Ross's voice calling Rene Good a

I can't determine which one it is, but it could be, sir. In June of last year. There you have it, folks. We'll keep you posted every step of the way this morning. Hit subscribe. Let's get to 6 million subscribers. Thanks for watching. Want to stay plugged in? Become a subscriber to our Substack at midasplus.com. You'll get daily recaps from Ron Philipski, add free episodes of our podcast, and more exclusive content only available at midasplus.com.

Questions about this episode

Who speaks in "Trump has CATASTROPHIC DAY as GOP Senators TURN AGAINST HIM"?

Unknown Host (Host), Donald Trump (Guest), Amy Klobuchar (Guest), Tom Tillis (Guest), Lisa Murkowski (Guest), Roger Marshall (Guest), Kevin Hassett (Guest), Peter Navarro (Guest).

What is "Trump has CATASTROPHIC DAY as GOP Senators TURN AGAINST HIM" about?

Donald Trump is facing intense backlash from GOP senators as his attempt to initiate a criminal investigation into Federal Reserve Chairman Jerome Powell backfires, with calls for an investigation into Trump's Department of Justice instead. Amidst this turmoil, Trump makes controversial social media claims about saving NATO and poses as the acting president of Venezuela, drawing sharp criticism…

What is mentioned in this MeidasTouch episode?

13 people, works and ideas are mentioned, including Federal Reserve, Thom Tillis, Department of Justice, Jared Bernstein, Alan Greenspan, Roger Marshall. Each one on this page links to its own page with every episode that mentions it.

How long is "Trump has CATASTROPHIC DAY as GOP Senators TURN AGAINST HIM"?

The episode runs 15 min; the transcript is about 2,514 words in 25 timestamped sections.

More from MeidasTouch

About this transcript: the episode's spoken words as captioned on YouTube, split into timestamped sections. Reclip.Me locates every person, work and idea in the text, keeps the time it is first named, and quotes the words around it verbatim. Last updated January 24, 2026.