Ep. 2345 - Trump Declares War…On Jerome Powell - The Ben Shapiro Show Recap

Podcast: The Ben Shapiro Show

Published: 2026-01-13

Duration: 53 minutes

Guests: Tricia McLaughlin, Vice Admiral Robert Harward

Summary

President Trump has directed a DOJ investigation into Federal Reserve Chair Jerome Powell, signaling a potential political clash. Meanwhile, economic indicators show mixed signals, and geopolitical tensions with Iran escalate.

What Happened

In a surprising move, the Department of Justice has initiated an investigation into Federal Reserve Chair Jerome Powell, focusing on cost overruns related to the rebuilding of the Federal Reserve building. Powell has responded by suggesting this investigation threatens the Fed's political independence. Lisa Cook, another member of the Federal Reserve Board, is also under scrutiny for allegedly misfiling mortgage forms.

Despite these political tensions, economic indicators show a complex picture. Kevin Hassett, Chairman of the National Council of Economic Advisors, projects a 5% GDP growth in Q4, a figure that signals strong economic performance. Additionally, there has been a significant drop in mortgage rates, now below 6% for the first time in years, which could stimulate the housing market.

However, the rental market in places like the Phoenix metro area is experiencing an oversupply of high-end apartments, leading to concessions for renters. As mortgage rates drop, AI and robotics are predicted to reduce homebuilding costs by up to 40%, suggesting a transformative shift in the construction industry.

On the political front, Gallup polling reveals a record 45% of Americans now identify as political independents, with Gen Z and Millennials showing even higher percentages. This shift may influence future elections and policy directions.

In international news, Iran is reportedly preparing to violently suppress protests, with the U.S. considering military responses. The Iranian economy is suffering under U.S. sanctions, and the IRGC's weakened state is causing internal dissent, which Vice Admiral Robert Harward believes could lead to the regime's eventual downfall.

Domestically, New York's new law barring anonymous tips to child services has drawn criticism, with concerns about its impact on child welfare. Ben Shapiro highlights the alarming statistic that black children are over three times as likely to die from abuse and neglect compared to their white peers.

Key Insights

• The Department of Justice is investigating Federal Reserve Chair Jerome Powell for cost overruns related to the rebuilding of the Federal Reserve building, raising concerns about the Fed's political independence.
• Economic projections indicate a 5% GDP growth in Q4, signaling strong economic performance, while mortgage rates have dropped below 6% for the first time in years, potentially stimulating the housing market.
• AI and robotics are expected to reduce homebuilding costs by up to 40%, which could significantly transform the construction industry as mortgage rates continue to decline.
• A record 45% of Americans now identify as political independents, with even higher percentages among Gen Z and Millennials, potentially influencing future elections and policy directions.