January 14, 2026

They're not even trying to hide their corruption any more.

Here's Republican Sen. Kevin Cramer on this Tuesday's Kudlow on Fox Business Network, saying the quiet part out loud when it comes to Trump and Jeanine Pirro's political investigation of Fed Chair Jerome Powell.

KUDOOW: We carved up, this was Jay Powell's Sunday night martyrdom. I'm going to call it his martyrdom speech. We just have a couple of sentences which I think we can play for you. Hang on, here it comes, sir.

POWELL: The threat of criminal charges is a consequence of the Federal Reserve setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the president. This is about whether the Fed will be able to continue to set interest rates based on evidence and economic conditions, or whether instead monetary policy will be directed by political pressure or intimidation.

KUDLOW: Alright, so blah blah blah blah. I might add, no catastrophe in markets, no catastrophe in the dollar. There's no catastrophe, period. Okay?

The subpoena could be taken back. I'm reading some late afternoon news. Jeanine Pirro said they didn't hear from the Federal Reserve. That had partly to do with it. So I'm holding out the possibility that perhaps better to get rid of this subpoena.

I mean, look, my view, Kevin, he was a very poor, very political Fed chairman. Very bad. One of the worst we've ever had. Is he a criminal because of cost overruns? Well, you'd have to put everybody in jail in Washington, D.C.

So my first question to you is, why not go to president Trump and say, you know, sir, somebody got a little carried away here, whether it was our friend, Jeanine Pirro, or whoever, I don't know. Why not just take it back? He'll be gone in three or four months, and we don't want to keep him a minute longer than necessary. How about that?

CRAMER: Amen and amen. So let me just say, Larry, having just listened to that clip now of Jay's speech, of the Chairman's speech, I thought to myself, you're wrong on this front, and that, you're being Jay. You're wrong on this front.

He wasn't a good chair because he was political. He gave up independence when he first of all, urged Congress, begged Congress to put more stimulus into the economy until Joe Biden was the president. And we were already coming out of the funk from the pandemic thanks to the Trump agenda and the economy was recovering.

And suddenly this new president is going to do the American Rescue Plan for a couple of trillion dollars and the Inflation Reduction Act for another trillion dollars. And all of a sudden this Fed Chair had a position, well, I don't advise on policy.

He was wrong on both fronts. And then when it came time to raise rates, to bring down inflation, he didn't do it. He waited. Why? Because his president, Joe Biden, was the president, and he didn't want to make him look bad. So he gave up independence a long time ago.

And the Fed is going to survive this. I like your idea, though, of maybe pulling back. But maybe the point should be, if you're the attorney for Jay Powell and you want to avoid an indictment, how about you go to Jeanine Pirro and say, I'll make a deal. I'll step down today if you'll drop the investigation today.

To me, that would be a win-win for everybody.

KUDLOW: Well, I'd love that. I mean, we've all talked about getting him out of there.

Trump wants revenge on Powell for embarrassing him, the damage it may do to the economy be damned. Shame on both of these sycophants for enabling this corrupt administration's criminal behavior.

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