At a Glance
- President Donald Trump claimed the U.S. will run Venezuela and control its oil after a military operation removed Nicolás Maduro.
- Federal Reserve Chair Jerome Powell revealed a Justice Department criminal subpoena, sparking rare conservative pushback.
- Immigration raids in Minneapolis left one woman dead and mayors nationwide reporting “chaos, confusion and uncertainty.”
- Why it matters: Voters face a November midterm referendum on Trump’s aggressive domestic and foreign expansion amid economic unease.
Just fourteen days into the year, President Donald Trump has upended global diplomacy, unleashed mass immigration raids and opened a criminal probe into the Federal Reserve-moves that could reshape the economy and Congress in the November midterms.
Federal Reserve faces criminal inquiry
Federal Reserve Chair Jerome Powell disclosed Sunday that the Justice Department subpoenaed the central bank Friday and threatened a criminal indictment over his prior testimony about building renovations.
The announcement rattled markets and some Trump allies. Fox Business host Maria Bartiromo, a vocal supporter, warned Monday:
> “It just feels like most on Wall Street do not want to see this kind of fight.”
Trump wants lower interest rates and has clashed publicly with Powell. In Detroit on Tuesday he predicted:
> “That jerk will be gone soon.”
Reducing Fed independence could backfire by driving borrowing costs higher, economists note.
Venezuela operation rewrites foreign policy
Earlier this month U.S. forces removed Venezuelan President Nicolás Maduro and his wife from the country. Trump now says Washington will:
- Control select Venezuelan oil sales
- Run the South American nation from D.C.
- Collect over $100 billion in planned U.S. oil-company investment
He posted a meme labeling himself “acting president of Venezuela” and warned Cuba and Iran of similar action. Separately, he vowed the U.S. will control Greenland “one way or the other,” arguing:
> “NATO becomes far more formidable and effective with Greenland in the hands of the UNITED STATES.”
Greenland belongs to Denmark, a NATO ally.
Immigration raids turn deadly
Trump deployed 2,000 ICE agents to Minnesota after fraud allegations within the Somali community. During the operation, federal agents shot and killed Renee Good, 37, a mother of three. Officials claim the officer fired in self-defense; local leaders dispute that account based on online videos.
Cleveland Mayor Justin Bibb, head of the Democratic Mayors Association, said the raids have created:
> “Chaos, confusion and uncertainty … people don’t feel like the world is getting better.”
On Tuesday the president pledged to pursue:
- Thousands of convicted murderers
- Drug dealers and addicts
- Rapists and escaped prisoners
- Dangerous individuals from foreign mental institutions
Voters set to weigh in
November’s midterms will decide control of Congress for the final two years of Trump’s second term. A January poll from the AP-NORC Center shows only 37% of U.S. adults approve of his economic handling despite his insistence the economy is surging.
Democratic messaging centers on affordability, while some progressives want stronger emphasis on what Indivisible co-founder Ezra Levin calls authoritarian overreach:
> “Authoritarians don’t willingly give up power. When weakened and cornered they lash out.”
Trump told House Republicans he expects to be impeached if the GOP loses the House, yet party leaders remain largely united. RNC spokesperson Kiersten Pels said voters will reward Republicans because the president is:
> “Making our country safer.”
Historian Joanne B. Freeman summed up the moment:
> “The presidency has gone rogue … we haven’t seen this before.”
Key Takeaways
- Trump’s multi-front expansion-foreign seizures, Fed pressure and domestic raids-has surprised even loyal Republicans.
- The Fed subpoena marks the latest criminal probe into a Trump adversary, following cases against James Comey, Letitia James and John Bolton.
- With midterms nine months away, economic pessimism and global instability could sway swing districts.
- Trump shows no sign of slowing, telling supporters:
> “Right now I’m feeling pretty good.”
