The 47 Morning Update with Ben Ferguson

Episode: Tehran Teetering on the Edge plus Grand Jury Targets Jerome Powell
Date: January 12, 2026
Host: Ben Ferguson (Premiere Networks)

Overview

In this high-stakes episode, Ben Ferguson delivers unfiltered commentary on two breaking stories:

1. The escalating anti-government protests and brutal crackdown in Iran, complete with U.S., Israeli, and Russian involvement.
2. The bombshell announcement that Federal Reserve Chair Jerome Powell is the target of a criminal investigation by the Trump administration, raising fears for the independence of U.S. monetary policy.

Ferguson supplies on-the-ground details, exclusive quotes from President Trump and Jerome Powell, and dives into how these events shape both international relations and domestic governance.

Key Discussion Points & Insights

1. Iran in Crisis: Protests, Crackdowns, and International Stakes

(Segment start: 02:59)

• Background:

  • Protests in Iran, described as “anarchy and chaos in the streets,” have been ongoing for over two weeks due to economic hardship and regime opposition.
  • Security forces have carried out a violent crackdown, with a rising death toll and reports of government attempts to silence information via cutting landlines and internet.

• U.S. and Trump Administration Response:

  • President Trump has publicly supported Iranian protesters, stating “Iran is looking for freedom, perhaps like never before.”

  • The U.S. is exploring multiple responses, from cyber operations to military/diplomatic pressure.

  • Trump, with his national security team, has declared Iran will “pay hell” and face “serious consequences” if the crackdown intensifies.

    Quote:

    "This strong stance is meant to deter further brutality and also show U.S. resolve."
    —Ben Ferguson [03:58]

• Iranian Regime's Calculus Changes:

  • Iranian officials have been spooked by Trump's warnings, and for the first time, have shown openness to negotiation—an indication that U.S. pressure is having real effects.

  • Russia’s involvement: Russian aircraft are observed in Tehran, apparently on standby to evacuate Iranian leadership should the regime collapse.

    Quote:

    "Russia is now involved with aircraft on the ground being reported in Tehran, at the airport...waiting if they have to put the leadership into exile and give them freedom in Russia."
    —Ben Ferguson [05:44]

• Potential for Israeli Action:

  • Israel is reportedly considering direct action against Iranian leadership, with historical precedent in their prior targeting of military leaders and nuclear sites.

• Direct Statements from President Trump:

  • Trump, in a public appearance, lays out his warning in stark terms:

    Notable Quote:

    "If they do that, we're going to hit them very hard. We're ready to do it."
    —Donald Trump [08:06]

  • He describes the scale of unrest:

    "Nobody's ever seen anything like what's happening right now."
    —Donald Trump [08:38]

  • On the regime’s “Plan B” to escape to Russia:

    "Ayatollah Ali Khamenei...is now has a plan B to go to Russia or someplace?..."
    —Donald Trump [07:17]

• Current Situation Update:

  • “At least one city has now officially overthrown the Iranian government and now it is in the hands of the people." (Ben Ferguson, [10:24])
  • Clarity on next steps: Ben emphasizes the fluidity and gravity—“either incredible freedom in Iran or significant loss of life...in the next few hours.” ([10:51])

Timestamps for Key Iran Segment Moments:

• [02:59] Segment begins; Ferguson outlines the major stories
• [03:13] Trump admin signals possible intervention/support for protesters
• [05:44] Russia’s involvement detailed
• [07:13] Trump’s on-the-record warning: “we’re going to hit them very hard.”
• [09:17] Ferguson recaps Israeli involvement and internal regime chaos
• [10:24] Confirmation of at least one city falling to protesters

2. Grand Jury Targets Fed Chair Jerome Powell

(Segment start: 11:22)

• Criminal Investigation Announced:

  • Trump’s administration has opened a criminal probe into Federal Reserve Chairman Jerome Powell, with grand jury subpoenas served concerning his testimony about the Federal Reserve’s headquarters renovations.

  • Powell denounced the probe as "intimidation" and a threat to the Fed’s independence.

    Notable Quote:

    "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."
    —Jerome Powell [13:44]

  • Powell appeared in a rare video statement, reflecting the gravity of the moment and calling the action “unprecedented.”

    Key Moments from Powell’s Statement:

    "No one, certainly not the chair of the Federal Reserve, is above the law. But this unprecedented action should be seen in the broader context of the Administration's threats and ongoing pressure..."
    —Jerome Powell [13:37] and [15:04]

• Media & Political Reaction:

  • Media and Democrats frame this as an attack on the independence of U.S. monetary policy; Ferguson attempts to reframe the probe as possibly being solely about Powell’s congressional testimony and potential misuse of funds.
  • The New York Times first broke the news; investigation is overseen by the U.S. Attorney’s Office for D.C., led by Judge Jeanine Pirro (a Trump appointee and former Fox News host).

• Ongoing Tensions:

  • Trump has repeatedly criticized Powell for not cutting interest rates deeply or quickly enough.
  • White House declined to comment, deferring queries to the Department of Justice, whose spokesperson said U.S. attorneys have been directed to “prioritize investigating any abuse of taxpayer dollars.”
  • Ferguson closes with a strong assertion of confidence in Trump’s approach:

    "My bet is the president's probably going to be right on this one yet again."
    —Ben Ferguson [17:40]

Timestamps for Key Fed Segment Moments:

• [11:22] Ferguson introduces the probe into Powell
• [13:23] Powell’s full video statement
• [15:13] Ferguson discusses context, DOJ statement, political framing

Notable Quotes & Memorable Moments

• Trump on Iranian Regime’s Brutality
  "They start shooting the hell out of people. And all of a sudden, people without any weapons whatsoever...they grab, take them to prisons and then hang them and kill them. So they played rough."
  —Donald Trump [07:48]

• Trump’s Red Line
  "I've told them that if they do anything bad to these people, we're going to hit them very hard."
  —Donald Trump [09:05]

• City Liberated in Iran
  "At least one city has now officially overthrown the Iranian government. And now it is in the hands of the people. It is a city by the border. That is significant."
  —Ben Ferguson [10:24]

• Powell’s Rebuttal to Political Pressure
  "Public service sometimes requires standing firm in the face of threats. I will continue to do the job the Senate confirmed me to do with integrity and a commitment to serving the American people."
  —Jerome Powell [15:04]

Summary Table of Key Segments

| Time | Segment | Key Point/Quote | |-----------|---------------------------------------------|------------------------------------------------------------| | 02:59 | Introduction of Iran crisis | "Anarchy and chaos in the streets in Iran." | | 03:13 | U.S. stance and support for protesters | "Iran would pay hell...serious consequences." | | 05:44 | Russia's involvement | "Russia is now involved with aircraft on the ground..." | | 07:13-09:11| Trump direct quotes on Iran | "We're going to hit them very hard." | | 10:24 | Border city falls to protesters | "At least one city has now officially overthrown..." | | 11:22 | Powell probe introduced | "Fed chair, Jerome Powell, says he's under criminal investigation." | | 13:23-15:13| Powell’s video statement | "No one...is above the law. But this unprecedented action should be seen..."| | 15:13-17:46| Context, DOJ, media framing | "Attorney general has instructed...investigating any abuse of taxpayer dollars." |

Tone and Approach

Ben Ferguson’s tone is direct, combative, and critical of mainstream media and the Biden administration, while highly supportive of President Trump’s leadership and decisiveness. The episode is framed as delivering information and perspective "you won’t get from the mainstream media," with a sense of urgency and drama around both the Iran crisis and the Powell investigation. Quotes are delivered unfiltered, and listeners are encouraged to “stand with the people in Iran” and to trust in Trump’s strategies both abroad and domestically.

For listeners and news junkies alike, this episode captures a moment when American foreign and economic policy are intersecting with historic global events and domestic political power struggles.