# Two Sides of The News

> Fed is Example #1

**Published by:** [Points And Figures](https://paragraph.com/@pointsnfigures1/)
**Published on:** 2026-01-13
**URL:** https://paragraph.com/@pointsnfigures1/two-sides-of-the-news

## Content

If you didn’t believe that Americans were watching two different television programs at the same time, the recent announcement that a grand jury was investigating the Federal Reserve is a textbook example. Fed Chair Jerome Powell, no fan of Trump, immediately took to the airwaves before the investigation was announced and made a video. In it, he said this was a political vendetta against him personally because of the interest rate policy. Sanctimoniously, he talked about Fed independence and things like that. It was a “holier than thou” video filled with an undercurrent of outrage. If your confirmation bias and framing are one way, you, too, were pretty mad about it and immediately sided with Powell. If you are a Trump supporter or at least open to the idea that there is a lot of waste, fraud, and abuse in the federal government, you thought that a simple grand jury investigation to uncover waste, fraud, and abuse inside the Fed. Scott Bessent himself wondered why there were so many employees at the Fed. He wondered aloud if the Fed had lost its mission and course by pursuing things like global warming and equality. Trump wondered why the building they are constructing costs as much as it does. Even if you don’t like Trump, you should agree that he knows construction. If your confirmation bias and framing were the other way, you would think this investigation is justified, especially given the blatant fraud taking place in other places. Some economists weighed in about Fed independence and how we risk becoming a banana republic. They didn’t weigh in on Trump’s idea to cap credit card rates at 10%. In my view, we ought to get rid of waste, fraud, and abuse everywhere in government. While we are at it, we can get rid of all the Keynesian economists in government too. Embrace our inner Milton Friedman.

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