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Fernando Mendoza
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Megyn Kelly
Good morning everyone. I'm Megyn Kelly. It's Monday, January 12, 2026 and this is your AM update. Federal Reserve Chairman Jerome Powell confirms he's under criminal investigation by the doj.
Tom Homan
We gotta stop the hateful Reddit saying this officer's a murderer is dangerous as.
Megyn Kelly
State and local lawmakers inflamed tensions in Minnesota following the shooting death of a woman resisting arrest who was accelerating her car toward an ice agent. Borders are Tom Homan calling on the left to turn down the temperature.
Jacob Fry
Obviously everybody could have done more to prevent that's a fair point to make.
Megyn Kelly
Minneapolis Mayor Jacob Fry forced to admit there's a real fraud problem in his city as the feds step in to fix it. President Trump eyeing possible military action in two countries and the College Football Playoff championship teams are set featuring one of the most unique star players in years. All that and more coming up in just a moment. On your AM Update. If your credit card balance is freaking you out after all the holiday spending, I mean, right? I have something that can save you money right now. You could cut your cell phone bill in half by switching to PureTalk's saver plan. Just $20 a month for unlimited talk text and 3 gigs of high speed data on PureTalk's superfast nationwide 5G network. And as a veteran led company that cares about giving back to those who serve. If you are active or former military or a first responder, you're going to save an additional 20% every single month. That's awesome. The easiest way to free up cash flow is to reduce your monthly recurring bills. Start by cutting overpriced wireless and consider switching to pure Talk. Go to PureTalk.com Kelly and make the switch today in as little as 10 minutes. Again, talk text and data for just $20 a month. That's PureTalk.com Kelly and you will save an additional 50% off your first month. PureTalk, America's wireless company prosecutors opening a criminal investigation into Federal Reserve Chairman Jerome Powell over statements regarding the renovation of the bank's D.C. headquarters. The new York Times reporting the inquiry approved by US Attorney for DC Jeanine Pirro in November focuses on whether Powell lied to Congress about the scope of the project. In 2017. The Fed receiving approval for the work, estimated to run about $1.7 billion. Cost projections now climbing to about 2.5 billion. Powell last night, in a video posted to social media, looking rattled, confirming the probe and saying it's tied to his June congressional testimony. Powell says it's merely a pretext related to his fight with President Trump over interest rates.
Jerome Powell
I have deep respect for the rule of law and for accountability in our democracy. 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. This new threat is not about my testimony last June or about the renovation of the Federal Reserve buildings. It is not about Congress's oversight role. The Fed, through testimony and other public disclosures, made every effort to keep Congress informed about the renovation project. Those are pretexts. 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. 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. Thank you.
Megyn Kelly
Since taking office last January, President Trump waging a public pressure campaign urging the Fed to lower interest rates. The Fed ultimately voting to lower rates three times last year. Each move criticized by President Trump as too late and not drastic enough. The Federal Reserve is a quasi independent body with a unique status, meaning the Fed chair, while nominated by the president, cannot be removed without cause. Concerns over ballooning costs of the Fed's headquarters reaching a fever pitch in July with President Trump visiting the construction site, criticizing the increasing costs and referring to it as, quote, sort of a fireable offense. Powell's term as Fed chair expires in May. At least 30 people arrested over the weekend in Minneapolis as residents take to the streets protesting ICE after an agent shot a woman resisting arrest as she accelerated her SUV toward the officer. State and local officials leaping to condemn the agent and ICE and continuing to misrepresent what actually happened. Minneapolis Mayor Jacob Fry, a Democrat, yesterday on NBC.
Jacob Fry
The ICE agent was not run over, as Trump stated. You had a person that was definitively trying to just get out of there. They were trying to leave the scene. That is not a person that's trying to run an ICE agent over. You have a person that is trying to protect our city, to look out for our Neighbors, when there is debate about baseline facts, like, for instance, did the ICE agent get run over? Guys, the answer is no, it didn't happen.
Megyn Kelly
That agent is heard on tape exclaiming in alarm as the vehicle clearly hits him before he opened fire, a moment that is caught on video and audio. The agent, an Iraq War veteran, later seeking treatment at the hospital for a hip injury, which the mayor denigrated in a press conference. Quote, he walked out of there with a hop in his step. Border czar Tom Homan, who spoke to the agent describing the impact of the incident Saturday on the Dr. Phil podcast.
Tom Homan
He's concerned. I've seen today his face all over social media. He's been doxxed. People are threatened to kill him. So he's not good. You know, he fears for him and his family. And again, let the investigation. Let the investigation play out. Before you say you want to execute this man, let the investigation play out. This officer is not in a good spot emotionally for his family.
Megyn Kelly
Is he upset about what took place?
Tom Homan
Of course he is. I mean, any law enforcement officer who uses any sort. Look, I've been around a long time. Even if it's less lethal force, if you have to put hands on somebody and take them down, it affects you.
Megyn Kelly
Last week's incident marking the second encounter with a weaponized vehicle for that agent, an illegal alien child molester over the summer, hitting the gas during an arrest, dragging the officer far down the road, causing injuries that required 33 stitches. Homeland Security Secretary Kristi Noem yesterday on CNN on the heightened risks immigration officials know they're facing. We've seen vehicles weaponized over 100 times in the last several months against our law enforcement officers. So they definitely know that the threat is real, that individuals who are trained by activists to go out and to impede their law enforcement operations will weaponize their vehicles and try to run them over and drag them and not stop. So they certainly go into these situations with that knowledge that that could happen, and that's what their training prepares them for. Congresswoman Ilhan Omar, a Democrat from Minnesota on CBS yesterday, seemingly encouraging more people to interfere in law enforcement operations.
Ilhan Omar
I think it is really important for Americans to record to create the level of accountability and transparency that we need. What we have seen in Minneapolis is ice agen oftentimes jumping out of their cars. These are unmarked cars. Oftentimes they're wearing a mask. They're approaching, running towards cars. They're pulling people out of those cars. Oftentimes these people are citizens. Oftentimes these people have documentation of their legal right to be in this country. And we know that DHS has lied repeatedly when it comes to these accounts. So it is even more important for there to be recording from eyewitnesses every single time these actions are taking place.
Megyn Kelly
Mr. Homan yesterday on NBC, pleading with the media and lawmakers to turn down the temperature.
Tom Homan
We gotta stop the hateful rhetoric. Saying this officer's a murderer is dangerous. It's just ridiculous. It's just going to. It's going to infuriate people more, which means there's going to be more incidents like this because the hateful rhetoric is not only continuing to now, it's tripled down and doubled down.
Megyn Kelly
I'm asking you to respond to the protesters who say they feel left safe, less safe, who say they're concerned for.
Tom Homan
Their neighbors, because you're looking at media reports and saying is they're terrorists or racist, they're the Nazis. They're listening to people saying that, you know, using the term disappearing people. It's because of the rhetoric, the hateful rhetoric. So that small population out there that's already half nuts, they hear this rhetoric that isis racist and they're the Nazis and they're disappearing people. That empowers them to do stupid things.
Megyn Kelly
The recent federal surge into Minnesota motivated in part to investigate widespread fraud across the state's vast social welfare system. A plundering of taxpayer dollars that prosecutors estimate totals at least 9 billion across 14 Medicaid services. Amid the fallout, Minnesota Governor Tim Walsh, a Democrat in early January dropping his reelection bid. NBC yesterday asking Minneapolis Mayor Jacob Fry, an emphatic critic of the Trump administration, if he believes Governor Walz did enough to crack down on fraud.
Jacob Fry
Well, look, Governor Walz is the reason that we've got paid family leave in Minnesota. He's the reason we've got free school lunches. Him and I, we've been through thick and thin.
Megyn Kelly
But did he do enough to combat fraud? Did he do enough to combat fraud?
Jacob Fry
Look, obviously everybody could have done more to prevent fraud, and I think that that's a fair point to make. He's setting up a whole bunch of infrastructure to do that. And by the way, look, the fraud's real. We've all got to acknowledge that the fraud is very real. And by the way, when somebody commits fraud, you investigate it, you charge, you prosecute, and, yeah, you put the person in jail as an individual. You do not hold an entire community, any community, accountable for the actions of individuals.
Megyn Kelly
The Trump administration instituting several measures to handle the fraud, including Medicare and Medicaid deferring funding for 14 programs pending review. HHS freezing some child care payments and requiring more verification of applicants. The Small Business administration suspending nearly 7,000 borrowers from federal loan programs. The Agriculture Department requiring additional verification of food stamp applicants. The DOJ creating a new senior position and dedicated to prosecuting fraud. And treasury investigating four money transfer firms for fraud, auditing certain banks for money laundering and through the irs, investigating nonprofits for alleged fraud. During COVID just to name a few. Congresswoman Omar, who represents Minneapolis and is herself a Somali immigrant, telling CBS the fraud problem is real, while taking issue with the Trump administration's approach to dealing with it. You know, by actually arresting criminals, are you confident that the fraud that has been discovered is no longer being conducted? Now, is there any justification for saying this food stamp money is somehow being misused?
Ilhan Omar
Yeah, there are ways to investigate fraud, which we have been doing in Minnesota, which the federal government has been doing under the Biden administration. There is no reason for them to use this level of rhetoric. There is no reason for them to fully stop funding these programs. The only reason they are doing that is for PR purposes. And it is harming our state, it is harming my constituents, and it is creating the kind of chaos and confusion that no one needs in this moment.
Megyn Kelly
Treasury Secretary Scott Besant traveling to Minnesota last week for a firsthand look at the operations underway. Secretary Bessant telling Fox Thursday that in addition to the fraud crackdown on wrongdoers, treasury will soon offer financial rewards to whistleblowers.
Jerome Powell
Look, we know that these rats will turn on each other. We heard today that one of the people who has been convicted of fraud, she was given $200,000 to bribe a juror and she was so corrupt she skimmed 80,000 of it and only tried to give $120,000 bribe. So we are going to offer whistleblower payments to anyone who wants to tell us the who, what, when, where and how this fraud has been done. And I think that they will give us a great leap forward on how to get it done.
Megyn Kelly
Coming up, U.S. foreign policy heating up across both hemispheres as President Trump reportedly weighs a number of possible military options, from Iran to Greenland and the final showdown in college football playoffs set for next week. So I can safely say that at times, many of us feel at some point in our day sluggish, bloated, or not quite ourselves. Modern life is hard. Processed foods, too little sleep, endless stress, all of it can disrupt your gut, SAP energy and weaken immune health. Your body's not failing. It might just be starving for the right fuel. Let me tell you about ARMRA Colostrum, which they say can help provide sharper energy, less bloating, faster workout recovery, stronger hair and glowing skin. It's nature's original superfood. Colostrum with over 400 plus bioactive nutrients they say can fortify your entire gut wall, nourish your microbiome, balance immune health, ignite metabolism and fuel performance. Amra is not processed. It's a pure, humanely and sustainably sourced whole food powerhouse. They say four daily scoops will rebuild you from the inside out for infinite benefits. Here's a special offer too 30% off your first subscription order go to Armra A R mra.commegan or just enter M E G Y n to get 30% off your first subscription order. That's a r m r a dot com Megan US Foreign Policy accelerating on multiple fronts. American airstrikes against ISIS in Syria mounting pressure on the Iranian regime and President Trump reportedly ordering up military plans to invade Greenland. On Saturday, the U.S. air Force carrying out a large scale strike in Syria hitting more than 35 targets including weapons caches, supply routes and other ISIS tied infrastructure. Central Command spokesman Captain Timothy Hawkins tells the New York Times the strikes today targeted ISIS throughout Syria as part of our ongoing commitment to to root out Islamic terrorism against our warfighters, prevent future attacks and protect American and partner forces in the region. The latest wave of attacks coming after another large scale strike in mid December that was in retaliation for an ISIS ambush that killed two US Soldiers and a civilian interpreter. President Trump also weighing potential US Involvement in Iran amid ongoing civilian protests against the theocratic regime. Protests began in Iran on December 28 following the collapse of the Iranian currency, reports the AP as international sanctions squeeze the economy, the intensity of the demonstrations ramping up in recent days as some Iranian protesters turn their attention directly on the Ayatollah chanting death to the dictator in the streets earlier this month, President Trump posting to Truth Social quote, if Iran shoots and violently kills peaceful protesters, which is their custom, the United States of America will come to their rescue. We are locked and loaded and ready to go. Mr. Trump following up in a Saturday Post quote, iran is looking at freedom perhaps like never before. The USA stands ready to help. The BBC reports that it counted 180 body bags in footage from a morgue near Tehran. One source telling the BBC, quote, it's like a war zone. The streets are full of blood. The Wall Street Journal reporting President Trump is set to meet on Tuesday with senior officials including Secretary of State Marco Rubio, Secretary of War Pete Hegseth and Joint Chiefs Chair Dan Raisin Cain last night from Air Force One. President Trump saying Iran is crossing his, quote, red line.
Donald Trump
There seem to be some people killed that aren't supposed to be killed, but we're looking at it very seriously, the military is looking at it and we're looking at some very strong options.
Megyn Kelly
President Trump also saying the Iranians are now ready to negotiate, but that the US May have to act before a meeting is set up. US Officials will reportedly brief the president on options including boosting anti government sources online, deploying secretive cyber weapons against Iranian military and civilian sites, placing more sanctions on the regime and military strikes. Mr. Trump is not expected to make any final decisions on Tuesday, the Journal reports, as discussions are at an early stage, but with Trump, you never know. Meanwhile, the Daily Mail reporting President Trump has ordered special operations commanders to draw up contingency plans tied to Greenland. The president ramping up his years long push to acquire the semi autonomous Danish island territory, citing national security concerns amid the growing presence of China and Russia in the Arctic. According to the report, Deputy Chief of Staff Stephen Miller is driving the push for swift action, emboldened by the recent successful US Military operation that led to the capture of former Venezuelan leader Nicolas Maduro. The prospect of US Control over Greenland, including the possible use of military force to make it happen, sending shockwaves through the NATO alliance. Danish Prime Minister Mette Fredriksen warning last week if the US Chooses to attack another NATO country militarily, then everything stops. The Telegraph reporting UK officials now coordinating with German and French counterparts, drawing up plans to expand NATO forces on Greenland as a deterrent against China and Russia in the Arctic. This is a way of assuaging U.S. concerns. The Telegraph reporting the EU is weighing possible sanctions on U.S. companies if President Trump rejects NATO proposals, including possible restrictions on American tech companies and financial institutions. US Officials are also discussing the possibility of offering direct payments to Greenlanders, encouraging support for independence from Denmark with a chance of joining the U.S. reports Reuters. President Trump last night on Air Force One.
Donald Trump
Greenland should make the deal because Greenland does not want to see Russia or China take over. They don't go there. It's very far away from Greenland and Greenland. Basically their defense is too dog sleds. Do you know that? You know what their defense is? Two dog sleds. We're talking about acquiring, not leasing, not having it short term. We're talking about acquiring and if we don't do it, Russia or China will. And that's not going to happen when I'm president.
Megyn Kelly
Secretary Rubio, who has said the president's desire is to purchase Greenland, set to meet with his Danish counterpart this week to discuss the island's future. That ought to be fun. The championship is set. The top ranked Indiana Hoosiers will face the number 10 Miami Hurricanes next week in the college football playoffs. The Hoosiers are the breakout sensation this season, one game away from the possibility of finishing out the season undefeated. At the center of it all, Heisman Trophy winning quarterback Fernando Mendoza with his earnest, often viral post game interviews, including this moment Immediately after Friday's 5622 win against Oregon, sealing the Hoosier spot in the championship.
Fernando Mendoza
First of all, I want to give all the glory to God. I mean the defense played fantastic, 28 points off of turnovers, the Hoggies always spectacular and the man above up above did so much for us today and has helped myself and our entire team play such a high level. I couldn't have done this without God and this is just such a great opportunity for my entire team. Like Pat Coogan said, we're a bunch of misfits. There's 05 stars on our team. We're just a bunch of gritty guys who are glued together and going towards a common goal which is to win every each and single game.
Megyn Kelly
In a post game presser, Mendoza offering insight into the team philosophy he says has led to their incredible season.
Fernando Mendoza
Yeah, I would say delayed gratification is a concept that, you know, was brought up by, by stoicism and by the stoics. And I think it's one of the greatest, it's one of the greatest attributes. If you're able to have delayed gratification, vacation discipline in yourself and discipline in your process and preparation, you're able to execute every single week. Like, you know, this play or this game is the national championship, like this game is the most important thing. And so I think that a lot of players and a lot of coaches and just everybody in Bloomington has done a great job of, you know, upholding that concept of delayed gratification and discipline throughout all aspects of our lives when there's a lot of distractions and you know, especially with the Big Ten championship and you know, the Heisman, all other things. I think our team has done a great job of keeping that delayed gratification at the forefront.
Megyn Kelly
One week from today, Mendoza will lead his team against the Hurricanes, who come into the championship with 13 wins and two losses. Miami beating Ole Miss 3127 last Thursday in a dramatic come from behind Victory quarterback Carson Beck running in the game winning touchdown with just 24 seconds left on the clock in the fourth quarter. The national title set for 7:30pm east next Monday. The Hurricane's holding the home field advantage at Hard Rock Stadium in Miami, and that'll do it for a busy AM update. I'm Megyn Kelly. Join me back here for the MK show live on SiriusXM's the Megyn Kelly Channel 111 at noon east on YouTube.com megankelly and on all podcast platforms. Hi, I'm Angie Hicks, co founder of Angie. When you use Angie for your home projects, you know all your jobs will be done well. From roof repair, emergency plumbing and more done well. So the next time you have a home project, leave it to the pros. Get started@angie.com.
Episode: Criminal Probe Into Fed Chair Powell, Homan's Warning on ICE, MN Fraud Admissions: AM Update 1/12
Date: January 12, 2026
Host: Megyn Kelly (SiriusXM)
This AM Update episode covers several breaking stories in American politics, law enforcement, and sports. Megyn Kelly reports on a criminal investigation into Federal Reserve Chairman Jerome Powell, heightened tensions in Minnesota after an ICE-involved shooting, large-scale welfare fraud in the state, President Trump’s escalating foreign policy, and a preview of the NCAA college football playoff championship. The episode is punctuated with quotes from major figures, providing insight and direct commentary.
[02:23 – 04:17]
The Department of Justice has opened a criminal investigation into Fed Chair Jerome Powell regarding statements about the scope and costs of the Federal Reserve headquarters renovation.
“This unprecedented action should be seen in the broader context of the administration's threats and ongoing pressure... 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, [03:23]
President Trump has publicly pressured the Fed to lower interest rates, but criticized their moves as insufficient.
Observers worry about the erosion of Fed independence.
[04:17 – 09:27]
Protests erupted in Minneapolis after an ICE agent shot a woman who was reportedly accelerating her vehicle toward him during an arrest.
“He’s concerned. I’ve seen today his face all over social media. He’s been doxxed. People are threatened to kill him... he’s not good. He fears for him and his family.”
— Tom Homan, former ICE Director, [06:27]
Secretary Kristi Noem (DHS) notes a trend of vehicles being weaponized against officers.
“We’ve seen vehicles weaponized over 100 times in the last several months against our law enforcement officers.”
— Kristi Noem (paraphrased), [07:20]
Rep. Ilhan Omar encourages bystanders to record ICE incidents for transparency, accusing DHS of prior dishonesty.
Tom Homan urges media and lawmakers to “stop the hateful rhetoric,” warning it fuels danger for officers and incites further unrest.
“Saying this officer’s a murderer is dangerous. It’s just going to infuriate people more, which means there’s going to be more incidents like this.”
— Tom Homan, [09:08]
[10:00 – 13:03]
Federal investigators have uncovered at least $9 billion in fraud across 14 Minnesota Medicaid programs.
As a result:
“Obviously everybody could have done more to prevent fraud... the fraud’s real. We’ve all got to acknowledge that the fraud is very real.”
— Jacob Fry, Minneapolis Mayor, [10:49]
“There is no reason for them to use this level of rhetoric. There is no reason for them to fully stop funding these programs. The only reason they are doing that is for PR purposes. And it is harming our state, it is harming my constituents, and it is creating the kind of chaos and confusion that no one needs in this moment.”
— Rep. Ilhan Omar, [12:32]
Treasury Secretary Scott Besant plans to offer whistleblower rewards for information about ongoing fraud.
“We know that these rats will turn on each other... We are going to offer whistleblower payments to anyone who wants to tell us the who, what, when, where and how this fraud has been done.”
— Scott Besant, [13:19] (as quoted by Megyn Kelly)
[13:54 – 20:32]
U.S. airstrikes targeted 35 ISIS-linked sites in Syria.
President Trump publicly contemplates military action in Iran if the regime cracks down violently on protesters.
Trump administration is also exploring acquisition of Greenland, citing security concerns over Russian/Chinese Arctic moves.
“Greenland basically their defense is two dog sleds... We’re talking about acquiring, not leasing, not having it short term. We’re talking about acquiring, and if we don’t do it, Russia or China will.”
— Donald Trump, [20:04]
Secretary of State Marco Rubio to meet with the Danish government for discussions.
[21:18 – 22:37]
Top-ranked Indiana Hoosiers (undefeated) set to face Miami Hurricanes (13-2) in the upcoming championship.
Spotlight on Heisman-winning QB Fernando Mendoza, praised for his humility and leadership.
“First of all, I want to give all the glory to God... we’re just a bunch of gritty guys who are glued together and going towards a common goal which is to win every each and single game.”
— Fernando Mendoza, [21:18]
“If you’re able to have delayed gratification, discipline in yourself and discipline in your process and preparation, you’re able to execute every single week like... this game is the most important thing.”
— Fernando Mendoza, [21:56]
This episode delivers rapid-fire updates on some of the most urgent political, law enforcement, and cultural stories of the day. It’s a showcase of the high stakes and rising tempers that define contemporary American public life, featuring direct voices from those at the heart of every major story. The mix of raw quotes and Megyn Kelly’s no-nonsense delivery makes the episode an essential listen for anyone following national developments.