WSJ What’s News: Federal Agent Shoots Two People in Portland (January 9, 2026)

Episode Overview

This episode centers on a high-tension incident in Portland, Oregon, where federal agents shot two people allegedly connected to a Venezuelan gang. The episode also covers other pressing headlines including a bipartisan push in Congress to extend health care subsidies, developments around new U.S. dietary guidelines and their impact on big food companies, a major bankruptcy in retail, and Saudi Arabia quietly lifting part of its booze ban.

Key Discussion Points & Insights

1. Federal Agent Shooting in Portland

[00:57 – 02:07]

• Incident Summary:
  Two people (a man and a woman) were shot by federal agents during a vehicle stop in Portland, Oregon. The Department of Homeland Security claims the driver tried to run over officers, and both individuals are tied to a Venezuelan gang linked to a recent shooting. Their conditions remain unknown.

• Community & Officials’ Response:
  Portland Police Chief Bob Day urged the community to stay calm. Mayor Keith Wilson condemned the shooting and urged ICE to leave the city.

  • Quote – Portland Mayor Keith Wilson [01:48]:
    “Violence in our community is devastating. These are not statistics. These are human beings. Portland is not a training ground for militarized agents. When the administration talks about using full force, we are seeing what it means on our streets.”

• Related Incident:
  The shooting closely followed a fatal incident in Minneapolis, where a 37-year-old woman, Renee Nicole Good, was killed by an ICE agent. Protests have erupted across the country, and tensions between Minnesota authorities and the federal government have risen after the FBI allegedly blocked local police from investigating.

2. Congressional Healthcare Subsidies Extension

[02:07 – 03:13]

• Congressional Developments:
  The House passed legislation to extend expired healthcare subsidies, defying GOP leadership and underscoring bipartisan concerns. Seventeen Republicans joined Democrats, signaling cracks ahead of the midterms.

  • Quote – Hakeem Jeffries, House Minority Leader [03:04]:
    “House Democrats, every single one of us, joined by 17 Republicans, have partnered in a bipartisan way to protect the health care of the American people.”

• Next Steps:
  The bill heads to the Senate, where there is significant pressure for compromise.

3. Business Updates and Market News

[03:13 – 05:01]

• XAI (Elon Musk’s Company) Controversy:
  The company faced criticism after its Grok chatbot allowed creation of sexualized photos involving children. In response, image generation was restricted to paying subscribers only.

• Retail Restructuring:
  Saks Fifth Avenue and Neiman Marcus’ parent company is nearing a $1.25 billion bankruptcy. A competing $1.5 billion financing offer from Pimco is in play.

• Mining Sector Merger:
  Rio Tinto is in talks to acquire Glencore, which would create the world’s largest mining company amid soaring demand for copper, crucial for AI and cloud infrastructure.

4. Impact of New Dietary Guidelines on Food Industry

[05:34 – 10:03]

• Guideline Changes:
  The new federal nutrition guidelines advise Americans to cut highly processed foods, increase protein, and avoid added sugars.

• Industry Response & Challenges:
  Food companies’ business models are deeply tied to processed foods, making compliance particularly challenging and likely to raise consumer prices.

  • Quote – Jesse Newman, Journal Food Reporter [06:17]:
    “The big food companies here in the US—their entire business model is really based on making processed food. And so, you know, any government guidance that takes a hard line against highly processed foods… this is pretty bad news.”

• Protein’s Popularity:
  Guidelines underscore a nationwide “protein bonanza,” driving up demand for dairy, meat, and poultry.

  • Demand has also attracted private equity, as seen in the recent cottage cheese brand deal.

  • Quote – Jesse Newman [07:47]:
    “Protein is obviously a huge trend… It seems to be a protein bonanza. It’s everywhere… That is a real tailwind for the dairy industry, for the meat and poultry industries. They are all feeling pretty good this morning.”

• Dairy Industry Implications:
  The new emphasis on protein and full-fat dairy offers a win for traditional dairy products—provided they minimize added sugar.

  • Quote – Jesse Newman [09:06]:
    “It really promotes dairy products in particular, promotes full fat dairy products. The one place… it’s just not a total slam dunk. There is a lot of high sugar dairy out there… Dairy manufacturers are going to be looking at their product lineups to see what will be a fit.”

5. Saudi Arabia Quietly Lifts Alcohol Ban for Expats

[10:07 – 11:13]

• Policy Change:
  Select residents—mostly diplomats and those with premium residency—can now buy alcohol from Riyadh’s discreet, unmarked liquor store. It’s a significant cultural shift after a decades-long ban.

  • Quote – Omar Abdel Baki, WSJ Middle East Correspondent [10:29]:
    “It might not sound like a big deal, but for a conservative kingdom that has banned alcohol since the 1950s, it’s quite a big deal.”

• Caveats:
  Access is tightly controlled, requiring verification of non-Muslim status and high-income residency. Use of phones is prohibited inside the store. Further gradual loosening of restrictions may follow, especially at new Red Sea resorts.

Notable Quotes & Timestamps

• Portland’s Mayor on Federal Violence [01:48]:

  “Portland is not a training ground for militarized agents. When the administration talks about using full force, we are seeing what it means on our streets.”
  — Mayor Keith Wilson

• Healthcare Bipartisanship [03:04]:

  “House Democrats, every single one of us, joined by 17 Republicans, have partnered in a bipartisan way to protect the health care of the American people.”
  — Rep. Hakeem Jeffries

• Processed Food Business Model [06:17]:

  “The big food companies here in the US—their entire business model is really based on making processed food… this is pretty bad news.”
  — Jesse Newman

• The Protein ‘Bonanza’ [07:47]:

  “Protein is obviously a huge trend… It seems to be a protein bonanza. It’s everywhere.”
  — Jesse Newman

• Saudi Arabia's Quiet Booze Reform [10:29]:

  “It might not sound like a big deal, but for a conservative kingdom that has banned alcohol since the 1950s, it’s quite a big deal.”
  — Omar Abdel Baki

Timestamps for Major Segments

• [00:57] – Portland Federal Shooting Overview
• [01:48] – Mayor Wilson & Portland Leaders React
• [02:07] – Minneapolis ICE Shooting & Aftermath
• [02:07–03:13] – Congressional Healthcare Extension
• [03:13–05:01] – Business News (XAI Grok, Saks/Neiman, Mining Merger)
• [05:34–10:03] – U.S. Dietary Guidelines: Food Industry Impact
• [10:07–11:13] – Saudi Arabia: Partial Alcohol Ban Lift

Summary Takeaway

This episode delivers a deep dive into a fraught and significant incident in Portland highlighting the complexities of federal-local cooperation and community trust. It ties upticks in federal action to broader themes of protest and accountability. The show also highlights key shifts in Washington’s health policy, evolving dietary guidelines challenging the food industry, dramatic moves in retail and commodities sectors, and an unprecedented social reform in Saudi Arabia. Each segment is presented with informative analysis and direct quotes, giving listeners the context to understand not just what happened, but what it means for business, society, and policy going forward.