The Majority Report with Sam Seder
Episode 3568 — Trump’s Fresh Assault On The Fed; Pritzker Resists Fascist Chicago Takeover
Date: August 26, 2025
Guest Host: Emma Vigland (in for Sam Seder), with Matt, Fred Higginbotham, Brian
Episode Overview
This episode dives deep into two urgent developments in US politics: Donald Trump’s unprecedented efforts to undermine the independence of the Federal Reserve, and his escalating threats to intervene in Chicago, which Illinois Governor J.B. Pritzker and local leaders are fiercely rejecting. The hosts dissect the economic, political, and racial undertones of Trump’s maneuvers, explore the systemic failings of Congress, and highlight the voices of ordinary citizens and political leaders pushing back against authoritarian overreach and endemic inequality.
Key Discussion Points & Insights
1. Trump’s Attempted Firing of Fed Governor Lisa Cook
Timestamps: 00:18–17:12
- Trump’s Power Play: Trump announced, via Truth Social using official White House letterhead, that he is firing Federal Reserve Governor Lisa Cook, despite lacking legal authority—Fed governors can only be removed "for cause," which does not exist in this case.
- Market Turmoil: The announcement sent shockwaves through equity and bond markets, indicating a global loss of confidence in US financial governance.
- Racial Undercurrents: Multiple hosts note Trump’s more overt targeting of black women in leadership roles, with Cook becoming just the latest example.
- "[Trump] is singling out black leaders." — Matt (07:04)
- "It's two-bit Klan shit..." — Emma Vigland (07:31)
- Economic Analysis: The episode contextualizes the Fed’s recent rate decisions—high interest rates post-COVID to curb inflation—and explains how the pandemic led to supply shocks and price hikes which, long after recovery, continued to boost corporate profits rather than wages.
- Tariffs & Inflation: Trump’s new 50% tariffs on India are tied to geopolitical disputes and are described as exacerbating consumer inflation.
- Authority and Pretext: Trump’s stated rationale for firing Cook—having two "primary residences"—is framed as a pretext, a maneuver the hosts describe as a pattern (13:16).
- Legal & Governance Breakdown: The hosts lament Congress's and the broader government's longstanding dysfunction and erosion of democratic checks, making the system susceptible to such authoritarian exploits.
Notable Quote
"Trump decided that it's time to fire the Federal Reserve Governor... Although the legality of this is very dubious."
— Emma Vigland [05:20]
"Why is the black lady running the bank?"
— Matt [06:04]
2. Pritzker and Chicago’s Stand Against Federal Intervention
Timestamps: 23:21–41:36
- Trump’s Threats: Trump signals his intent to deploy federal/national guard troops to Chicago under the guise of law and order, especially in response to “cashless bail” policies.
- Political Theater: The panel underscores that the military deployment has more to do with the "intimidation factor and the aesthetic of fascism" than actual policy (23:21).
- Joint Chicago Response:
- Governor J.B. Pritzker, alongside Mayor Brandon Johnson and Senators Joey Durbin & Tammy Duckworth, hold a forceful press conference pushing back.
- Pritzker calls out Trump's false claims about crime and highlights that most high-homicide states and cities are led by Republicans.
- He slams the planned federal cuts to public safety and violence prevention (30:58–32:06).
- Pritzker pledges all legal avenues to oppose military occupation and sends a direct warning:
"We are watching, and we are taking names... If you hurt my people, nothing will stop me—not time or political circumstance—from making sure that you face justice under our constitutional rule of law."
— J.B. Pritzker [41:22]
Analysis & Fact-Checking
- Crime Data Breakdown: The hosts present 2023–25 crime statistics, showing dramatic declines in Chicago and NYC murder rates, undercutting Trump’s justification for intervention (33:35–35:24).
- Political Messaging: The panel notes that Pritzker is positioning himself for 2028, praising his more aggressive, partisan stance compared to establishment Democrats.
Notable Quotes
"If Donald Trump was actually serious about fighting crime in cities like Chicago, he... would not be cutting over $800 million in public safety and crime prevention grants..."
— J.B. Pritzker [30:58]
"This is not a time to pretend here that there are two sides to this story."
— J.B. Pritzker [36:18]
"Donald Trump wants to use the military to occupy a US city, punish his dissidents and score political points. If this were happening in any other country, we'd have no trouble calling it what it is: a dangerous power grab."
— J.B. Pritzker [37:00]
3. Failures of Congress, Systemic Corruption, and the Roots of Populist Anger
Timestamps: 15:17–17:12, 45:26–61:44
- Nonfunctioning Government: Discussion centers on how entrenched interests and Congressional gridlock prevent meaningful legislation on price controls, antitrust action, and economic reform.
- Corruption & Dark Money: Hosts highlight how ever-increasing PAC spending and dark money fuel political paralysis and inequality.
- Populist Backlash: The episode draws lines from congressional inaction to conditions enabling both Trump-style authoritarian exploits and widespread populist anger across partisan lines.
4. Grassroots Voices: Missouri Farmer Calls Out GOP Rep. Mark Alford
Timestamps: 48:22–56:00
- Town Hall Accountability: Moe farmer Fred Higginbotham confronts Rep. Mark Alford in a rural, solid-red district, expressing anger over wealth inequality, corporate power, and political dereliction.
-
"You want to straighten out the budget? Start taxing corporations and the wealthy, like we've been telling you... Do you think we're idiots?"
— Fred Higginbotham [54:19]
-
- Economic Realities: Higginbotham unpacks how corporate agribusiness, not small farmers, benefit from the current regime, and challenges the fallacy of "free market" farming.
- Class Politics: The hosts argue that the popular appetite for taxing the rich and rebalancing budget priorities is widespread, including among rural and conservative-leaning Americans.
Notable Quote
"You need to take your head out of Trump's ass and start doing your representation of us."
— Fred Higginbotham [54:23]
5. Democratic Party Strategy, Leadership, and Missed Opportunities
Timestamps: 56:00–64:38
- Critique of Democratic Leadership: The panel laments the party's unwillingness to seize populist economic arguments, raise taxes on the wealthy, and prosecute Republican crimes—from Iraq War architects to Trump coup plotters.
- Policy Messaging: Vigland and Matt argue that framing tax increases as budget responsibility—balancing the books by taxing the rich—can resonate even in red states, if Dems choose to fight that fight.
- Corruption of Leadership: The discussion highlights the incentives of party leaders to maintain the status quo of wealth concentration.
- Historical Parallels: Echoes of the Gilded Age and French Revolution are invoked regarding today's extreme inequality (59:32–60:27).
6. Economic Policy, Wealth Inequality, and Fiscal Arguments
Timestamps: 57:27–64:38
- Deficit & MMT: Hosts reference Stephanie Kelton's "The Deficit Myth" and Modern Monetary Theory, distinguishing rhetorical strategies from actual economic realities.
- Populist Weaponization: They urge the left to reclaim fiscal responsibility as a political cudgel, not as austerity but as a call for redistribution and social investment.
Memorable Moments
• Trump’s “Auto Sharpie” Signing (27:12)
Emma Vigland ridicules Trump’s mechanical, uninformed approach to executive orders:
"Trump may not have an auto pen... but he's basically auto Sharpie because there's nothing going on up there. And he puts no thought into anything."
— Emma Vigland [27:12]
• Pritzker’s Warning to Trump Officials (41:22)
"We are watching and we are taking names... You can delay justice for a time, but history shows you cannot prevent it from finding you eventually. If you hurt my people, nothing will stop me... from making sure that you face justice under our constitutional rule of law."
• Fred Higginbotham’s Viral Town Hall Moment (54:19)
"Do you think we're idiots? Do you think we don't pay taxes? Do you think we don't have to make budgets?... You need to take your head out of Trump’s ass and start doing your representation of us."
Recommendations & Final Thoughts
- Reclaiming Class Politics: The hosts repeatedly emphasize that the left—and Democrats—must foreground taxing the billionaire class, redistributing wealth, and holding lawbreaking elites accountable to prevent further erosion of democracy and to build cross-class, cross-racial solidarity.
- Urgency of Accountability: The Democratic reluctance to prosecute Republican crimes is fingered as a key enabler of further authoritarianism and impunity.
- Encouragement for Grassroots Voice: The viral moment from rural Missouri underscores the potential for realignment if class-based economic arguments are forcefully and authentically articulated.
Additional Notable Quotes & Timestamps
- "We're being failed... a record amount of dark money going into PACs. Just exploded."
— Emma Vigland [16:57] - "It's just so much waste. We're being failed."
— Emma Vigland [16:54–16:57] - "That's just kind of his gratuitous jab at Pritzker. He also made fun of his weight. I mean, God, glass houses here."
— Emma Vigland [29:05] - "This authoritarian crackdown is unconstitutional by every metric and they should be met with justice in a way that meets their crimes. And I like to see it."
— Emma Vigland [47:28]
Segment Timestamps Quick Reference
- Introduction and headlines: 00:00–06:00
- Fed independence/Trump vs. Lisa Cook: 06:00–17:12
- Congressional dysfunction, price controls, antitrust: 15:17–17:12
- Trump’s Chicago intervention, Pritzker presser: 23:21–41:36
- Rural Missouri town hall, Fred Higginbotham: 48:22–56:00
- Populist economic messaging and Democratic failings: 56:00–64:38
Tone and Style
The conversation is irreverent, combative, and deeply analytical, mixing humor ("auto Sharpie") with plainspoken outrage and insistence on structural critique.
For listeners: This episode is a must if you’re following threats to democratic governance, the future of economic policy under Trump, or the evolving backlash from both blue state leadership and disaffected rural Americans.