🤬 Fed Up With the Fed Fight

Republicans mouth off over Trump’s persecution of Jerome Powell, Mark Kelly sues Pete Hegseth, and MAGA millionaires shower money on the man who murdered Renee Good?

🎂 On this day in 1961, the incomparable Julia Louis-Dreyfus was born. The VEEP star was spotted over the weekend at a New York protest with a sign reading “Renee Good – ICE Bad.”

Good morning! Peter here, back in your inboxes with some good news amid all the horrid headlines. Because this edition of ‘First Draft’ is sponsored by Incogni, there is no paywall! Huzzah! But there’s more! I was lucky enough to get dinner this weekend with independent media icon and dear friend of Zeteo, Jennifer Welch! Stay tuned to the bottom of the newsletter for a snapshot from our uproarious tête-à-tête.

In today’s ‘First Draft,’ GOP lawmakers show signs of life, puppy killer Kristi Noem announces hundreds of additional ICE goons will pour into Minneapolis, the administration’s policies have Democrats surging in new polling, and Pam Bondi may soon be out of a job.

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‘Taking a Sledgehammer to a Walnut’

Federal Reserve Chair Jerome Powell speaks during a press conference on Dec. 10, 2025, in Washington, DC. Photo by Chip Somodevilla/Getty Images

The cliché goes that revenge is a dish best served cold, but Republicans on Capitol Hill are increasingly sending the president’s bone-chilling acts of retribution back to the kitchen.

Donald Trump’s relentless, all-consuming payback tour escalated yet again over the weekend, with a widely denounced attack on Jerome Powell.

Late Sunday, the Federal Reserve chair released a statement detailing how the Justice Department had threatened him with possible criminal indictment over his June testimony before the Senate regarding the multi-year renovation of various Fed buildings.

“No one, certainly not the chair of the Federal Reserve is above the law,” Powell asserted, “but this unprecedented action should be seen in the broader context of the administration’s threats and ongoing pressure.”

Powell went on to state the obvious: this investigation is nakedly, if not erotically, an effort to menace the Fed into lowering interest rates – a longstanding and frequent demand made by Trump.

Now, this is far from the first time the president and his goons have weaponized the levers of justice to settle personal scores (I’m looking at you New York AG Letitia James, former national security adviser John Bolton, Rep. Eric Swalwell, Senator Adam Schiff, Senator Mark Kelly, Special Counsel Jack Smith, Fed Governor Lisa Cook, and former FBI Director James Comey). However, it is arguably the first time that Wall Street – and thereby the donor class – has reacted with shock horror.

“This is unprecedented,” Fox Business host Stuart Varney proclaimed on Monday afternoon. “Launching a criminal investigation sounds like taking a sledgehammer to a walnut… A criminal investigation? Well, that undermines the credibility of America’s central bank.”

“Investors do not like this. Stocks down across the board,” Varney added.

Allow me to break some major news to you: Republican officials don’t give a crap about blue America, they hardly care about red America, but they hang on every word of green (monied) America.

As a result, GOP lawmakers who have rarely, if ever, had a sharp word for the president took him out to the woodshed yesterday.

Louisiana Senator and noted Foghorn Leghorn superfan John Kennedy, a member of the upper chamber’s Banking Committee, told Punchbowl’s Brendan Pedersen, “My thought was, we need this like we need a hole in the head… I know Chairman Powell pretty well. I would be stunned if he had done anything wrong.”

Congressman French Hill of Arkansas, chairman of the House Financial Services Committee, called the attack on Powell “an unnecessary distraction” that “could undermine this and future Administrations’ ability to make sound monetary policy decisions.”

One anonymous House Republican told NBC News reporter Melanie Zanona: “[M]aybe we should lose the majority so WH and leadership stop making stupid decisions… Our leadership and admin just keep doubling down on stupid.”

Actions speak louder than words, however, and believe it or not, a Republican on the Hill actually took direct action against Trump for this authoritarian nonsense.

North Carolina Senator Thom Tillis proclaimed he would block any and all Trump Fed nominees (for either Powell’s position or another post) until the president dropped the investigation.

His GOP counterpart, Alaska Senator Lisa Murkowski, endorsed the drastic move, stating on social media, “After speaking with Chair Powell this morning, it’s clear the administration’s investigation is nothing more than an attempt at coercion… My colleague, Senator Tillis, is right in blocking any Federal Reserve nominees until this is resolved.”

Will any of this get Trump to back off his retribution campaign? I doubt it. Hell hath no fury like an orange man scorned.

This episode is telling, however. It shows that there are more and more (cynical, to be clear) voices in the MAGA cult ready to throw Trump overboard as he increasingly threatens their careers and checkbooks.

🗞️ What You Need to Know

• ICE expands invasion: Secretary Kristi Noem announced that DHS is sending hundreds more federal officers to Minneapolis this week, not only for immigration enforcement but to respond to anti-ICE protests. Minnesota, Minneapolis, and St. Paul are suing the Department of Homeland Security to halt or limit its invasion.

• Department of War (Crimes): The Pentagon used an aircraft painted to look like a civilian plane in its first boat strike that killed 11 people, the New York Times reported, adding to a long list of apparent war crimes. The Sept. 2 assault was already under extra scrutiny for its “double-tap” strike that killed survivors of the initial attack.

• Kelly claps back: Arizona Senator Mark Kelly is suing Defense Secretary Pete Hegseth for violating the First Amendment after the former Fox host made the petty move to reduce the senator’s ranking and retirement pay in response to Kelly’s video telling service members to refuse illegal orders.

• Dictator in command: The possibility of Trump attempting to overturn future elections is more likely than you may think. The president made the bizarre comment that he should have ordered the National Guard to seize voting machines after he lost the 2020 election, in an interview with the New York Times.

• Tariff wars continue: Trump announced that he is placing a 25% tariff on any country that does business with Iran. The news comes as he threatens US military intervention in Iran amid mass protests in the country. Human rights advocates said Monday that at least 648 protesters have been killed, and the internet blackout exceeded 100 hours.

• Bon(di) Voyage: Pam, you might need to find a new job because it’s looking like your boss is tired of you. The Wall Street Journal reported that Trump has repeatedly complained about the attorney general, criticizing her for not aggressively pursuing his agenda.

🧠 Pop Quiz!

Which psychedelic rock band is Jerome Powell a longtime fan of?

Keep your eyes out for the answer below!

💰 Blood Money

Bill Ackman on June 17, 2024, in New York City. Photo by Jared Siskin/Patrick McMullan via Getty Images

In 2025, America met Shiloh Hendrix, an oh-so lovely woman who went viral after hurling a barrage of N-words at a Black 5-year-old on a playground.

As a result, she is now swimming in cash à la Scrooge McDuck.

Online, right-wing fundraisers, you see, flooded Hendrix with cash, rewarding her vicious, racist cruelty as courage. Go figure!

MAGA has long made so-called “vice-signaling” profitable in the name of America’s cultural war. This week, however, the reactionary phenomenon took a most dangerous turn.

Billionaire Bill Ackman, millionaire MAGA dolt Megyn Kelly, and their ideological peers are helping funnel HUGE sums to the ICE agent who murdered Renee Nicole Good. At the time you’re reading this, more than $500,000 has been pledged to ICE agent Jonathan Ross.

Yes, this is stomach-churning, but think about the implications… This tells ICE goons that escalation and (potentially lethal) violence pay, that killing a protester can make you rich beyond your wildest dreams.

WHAT ARE WE DOING HERE?!?

🚨 Don’t Miss It!

Don’t miss our LIVE in-person event in DC: Join Mehdi, Swin, Ro Khanna, Joy Reid, Jim Acosta, Sarah Matthews, and Miles Taylor for a powerful evening at the Howard Theatre in Washington, DC, to mark one year of Trump, on Tuesday, Jan. 20, 2026!

🌏 Anywhere But America

• 🇵🇸 Don’t forget Gaza: Four people, including a 15-year-old girl, were killed when walls of war-damaged buildings collapsed on tents due to high winds from a new storm hitting the Strip. Separately, a 1-year-old reportedly died overnight of extreme cold.

• 🇺🇦 A deadly year in Ukraine: According to the UN, civilian deaths in Ukraine reached at least 2,514 people in 2025 – a 70% increase compared to 2023. The majority of the casualties were caused by Russian attacks, given their “expanded use of long-range weapons,” over the last year.

• 🇫🇷 Le Pen back in court: Far-right French leader Marine Le Pen’s appeals trial begins today in Paris after a court last year found her and eight other European parliament members guilty of misappropriating public funds. The verdict could be make-or-break for Le Pen’s 2027 presidential ambitions, since she faces a five-year election ban as part of her initial sentencing.

• 🇻🇪 Political prisoners freed: On Monday, the Venezuelan government said it released 116 detainees from prison so far – a claim refuted by human rights group Foro Penal, which claimed only 41 people have been released. Despite the discrepancy, Venezuela still has a long way to go, as estimates suggest the nation could have between 800 and 1,200 political prisoners total.

• 🇸🇩 Hospitals close amid escalating violence: The Sudan Doctors Network reported that four doctors were killed and three major hospitals in South Kordofan have been out of service due to “deliberate shelling by the Rapid Support Forces (RSF) and the Sudan People’s Liberation Movement–North (SPLM-N).” The hospital closures come as an SPLM-N drone attack on Monday reportedly killed five people in South Kordofan.

📊 Chart of the Day

This exclusive survey for Zeteo, conducted by Data for Progress, also found that 87% of Democrats and 60% of independents disagree that “domestic terrorist” aptly describes Renee Good. But… 62% of Republicans agree!

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🧠 Trivia answer: The Grateful Dead. RIP Bob Weir.

🧐 WTF?!

Oh, that’s not–

ICYMI From Zeteo

The Economic Roots of Iran’s Protests

EXCLUSIVE: Graham Platner Poll Shows Him Up by 15 Points in Maine Senate Primary

Me with “MOTHER!”

Zeteo’s Melanie Riehl, Akshay Gokul, and Minnah Arshad contributed to this newsletter.

Editor’ note: This story has been updated to correct Eric Swalwell’s name.

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