Republican lawmakers come to the defense of Fed Chair Jerome Powell.

Summary

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Fox News Hourly Update – January 12, 2026

Main Theme:
This episode covers congressional Republicans' defense of Federal Reserve Chair Jerome Powell amid a Justice Department investigation, updates on U.S.-Venezuela relations and possible actions in Iran, local crime stories, and a corporate battle involving Warner Brothers Discovery.

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Key Discussion Points & Insights

1. Republican Lawmakers Defend Fed Chair Jerome Powell

[00:03–00:53]

• Background:
  Federal Reserve Chair Jerome Powell faces a Justice Department (DOJ) investigation related to statements he made to Congress about renovations at the Fed’s headquarters. The investigation comes amidst heightened political scrutiny over the Fed’s interest rate policies.

• Republican Pushback:

  • Lisa Murkowski (R-AK):
    Strongly criticized the DOJ's move, framing it as an act of political coercion rather than legitimate oversight.

    “A Justice Department investigation in the Fed chair Jerome Powell is nothing more than an attempt at coercion.” – Lisa Murkowski [00:17]
    She further argued that if cost overruns on renovations truly warranted investigation, Congress should be probing the DOJ itself, suggesting political motivation.

  • Thom Tillis (R-NC):
    Voiced a hardline stance, pledging to block all future Federal Reserve nominees until clarity on the DOJ investigation is achieved.

• Presidential Context:
  President Trump, who has frequently criticized the Fed's approach to interest rates, plans to nominate a new Fed chair before Powell’s term expires in May.

• Notable Moment:

  “If DOJ believes cost overruns warrants an investigation, Congress needs to investigate the Justice Department.” – Lisa Murkowski [00:20]

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2. White House & Global Affairs Updates

[00:53–01:40]

A. U.S.-Venezuela Relations

• Upcoming Meeting:
  President Trump will meet with Maria Corinna Machado, Venezuelan opposition leader and Nobel laureate, following the recent ouster of Venezuelan leader Nicolas Maduro, who is now in U.S. custody facing criminal charges.

B. Iran Crisis

• Escalating Protests:
  The Iranian regime faces severe protests after a violent crackdown that has resulted in hundreds of deaths.
• White House Deliberations:
  The administration is reviewing a spectrum of responses, including:
  • Military strikes
  • Sanctions
  • Anti-government propaganda
  • Cyberattacks on military sites
  • Potential use of Elon Musk’s Starlink to restore Internet in Iran
• Notable Quote:

  “The president will reportedly look over a range of options for US Intervention, ranging from strikes to sanctions to anti-government propaganda and cyberattacks on military sites. Also said that he’s considering calling Elon Musk to get Starlink up over Iran.” – Ainsley Earhardt [01:24]

• Communications Blackout:
  Iran cuts off internet and phone service to suppress the protests.

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3. Domestic Crime News

[02:31–03:49]

A. Ohio Double Homicide

• Case Overview:
  Michael David McKee, a Chicago resident, is facing extradition to Ohio, accused of traveling to Columbus to murder his ex-wife Monique Tepe and her husband Spencer Tepe. The couple’s two young children were unharmed.

  • “Michael David McKee of Chicago is accused of traveling hundreds of miles to Columbus last month, shooting and killing his ex-wife… Their bodies found inside their home Dec. 30.” – Michael David McKee Reporter [02:39]

B. Virginia Murder-for-Hire Trial

• Details:
  Brandon Banfield is on trial for the murder of his wife Christine and a man, Joseph Ryan, with assistance from the family’s Brazilian au pair, Juliana Margula, who was romantically involved with Banfield.
• Alleged Scheme:
  Banfield and Margula reportedly lured Ryan to the home under false pretenses; Margula has already pled guilty to a reduced charge.
• Family Tragedy:
  The couple’s 4-year-old witnessed the aftermath.

  • “Banfield is also charged with child neglect and cruelty. The couple's four year old daughter was home when their mother was killed.” – Lisa Brady [03:49]

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4. Corporate News

[03:49–04:28]

• Warner Brothers Discovery Battle:
  Paramount Skydance is intensifying efforts for a hostile takeover, announcing plans to appoint its own directors before the upcoming shareholder meeting.
• Legal Action:
  Paramount has filed suit to compel Warner Brothers Discovery to disclose its methods for valuing competing acquisition bids.
• Market Note:
  Stocks are mixed; at reporting time, the Dow Jones is down 22 points.

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Notable Quotes & Memorable Moments

• On Fed Investigation:

  "A Justice Department investigation in the Fed chair Jerome Powell is nothing more than an attempt at coercion."
  – Lisa Murkowski [00:17]

• On Potential U.S. Action in Iran:

  “The president will reportedly look over a range of options… including calling Elon Musk to get Starlink up over Iran.”
  – Ainsley Earhardt [01:24]

• On Family Tragedy in Virginia:

  “Banfield is also charged with child neglect and cruelty. The couple's four year old daughter was home when their mother was killed.”
  – Lisa Brady [03:49]

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Important Segment Timestamps

• 00:03–00:53: Political fallout over Fed Chair Powell and DOJ probe
• 00:53–01:40: White House plans: Venezuela, Iran, and communications crackdown
• 02:31–03:14: Ohio double homicide/Extradition case
• 03:14–03:49: Virginia murder-for-hire trial
• 03:49–04:28: Paramount Skydance and Warner Brothers Discovery corporate battle

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Summary Notes

This episode highlights growing tensions between the legislative and executive branches over Federal Reserve independence, intensifies U.S. foreign policy maneuvering in Iran and Venezuela, and details serious crime and corporate maneuvering domestic stories—all through Fox News’ direct, headline-driven reporting style.

Transcript

[Lisa Brady]

Push back over a probe of the Fed chair. Lisa Brady, Fox News there's growing criticism over what the Fed chief himself calls a pretext to pressure him on interest rates. An investigation related to his comments to Congress about the renovation at Fed headquarters.

[Lisa Murkowski]

A Justice Department investigation in the Fed chair Jerome Powell is nothing more than an attempt at coercion, Alaska Republican Lisa Murkowski says, adding, if DOJ believes cost overruns warrants an investigation, Congress needs to investigate the Justice Department. Murkowski's criticism follows that of North Carolina Republican Thom Tillis, who says he will block all Federal Reserve nominees until the matter is resolved. President Trump plans to nominate a new Fed chair this month, ahead of Powell's term ending in May. The president has been a vocal critic of the Fed's decisions on interest rate cuts.

[Lisa Brady]

Fox's Jared Halpern at the White House. That's one of the issues likely to come up during a White House briefing scheduled to begin soon. One White House official just confirming to Fox that President Trump plans to meet Thursday at the White House with Venezuelan opposition leader and Nobel Peace Prize winner Maria Corinna Machado after the recent ouster of Venezuelan leader Nicolas Maduro, who's now in the US to face criminal charges. President Trump will be briefed this week on potential action in Iran, where hundreds of deaths are reported in a government crackdown on protests against the regime.

[Ainsley Earhardt]

The president will reportedly look over a range of options for US Intervention, ranging from strikes to sanctions to anti government propaganda and cyberattacks on military sites. Also said that he's considering calling Elon Musk to get Starlink up over Iran.

[Lisa Brady]

Fox's Jackie Heinrich Internet and phone service has been cut as part of the regime's protest response. Protests continue in Minneapolis after last week's deadly shooting by an ICE agent still under investigation. The Minnesota governor visiting a makeshift memorial in the city today. America is listening to Fox News.

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[Lisa Brady]

A man accused of killing his wife and her husband, an Ohio ex wife and her husband in Ohio faces an extradition hearing today in illino.

[Michael David McKee Reporter]

Michael David McKee of Chicago is accused of traveling hundreds of miles to Columbus last month, shooting and killing his ex wife, Monique Tepe and her husband Spencer Tepe. Their bodies found inside their home Dec. 30. The couple's two children, 1 and 4, unharmed. Police say McKee was linked to a car that was spotted near the crime scene.

[Lisa Brady]

Fox's Jeff Benasso. McKee is facing two counts of aggravated murder. Court records show he and Monique Tepe were married for about two years and divorced in 2017. Trial begins today in Virginia for a man accused of murdering his wife with the help of a Brazilian au pair.

[Jessica Rosenthal]

Brandon Banfield is charged with killing his wife Christine in 2023 along with a man named Joseph Ryan inside the couple's home. Prosecutors say Banfield and the family au pair, Juliana Margula, with whom he was having a romantic relationship, lured Ryan to the house by setting up a profile for Christine on a fetish website. They then told investigators they went inside the bedroom and saw Ryan try to stab Christine. So they shot Ryan. Investigators call this an elaborate setup and note that Margulies has already admitted to trying to lure Ryan to the house. She's already pled guilty to a reduced manslaughter charge. Jessica Rosenthal, FOX News.

[Lisa Brady]

Banfield is also charged with child neglect and cruelty. The couple's four year old daughter was home when their mother was killed. Paramount Skydance not giving up on its hostile takeover bid for Warner Brothers. Discovery announcing today it'll name its own slate of directors before the next shareholder meeting. Warner's leadership has repeatedly urged shareholders to back Amy Netflix bid to buy its streaming and studio business. Paramount has also filed a suit in Delaware Chancery Court seeking to compel Warner Brothers to disclose to shareholders how it values the competing bids. Stocks remain mixed. The Dow's down 22. I'm Lisa Brady. This is FOX News.

[Ainsley Earhardt]

This is Ainsley Earhart. Thank you for joining me for the 52 episode podcast series the Life of.

[Michael David McKee Reporter]

Jesus, a listening experience that will provide hope, comfort and understanding of the greatest story ever told. Listen and follow now at FOX NEWS Podcast or wherever you listen to podcasts.