At a Glance
- President Trump claims control of Venezuelan oil and threatens to seize Greenland within two weeks of 2025
- Federal Reserve Chair Jerome Powell reveals DOJ criminal subpoena over central bank renovations
- 2,000 ICE agents flood Minnesota after fatal shooting of 37-year-old mother Renee Good
- Why it matters: Midterm elections loom as voters face economic uncertainty and global instability
President Donald Trump has unleashed an unprecedented torrent of domestic and international turmoil just two weeks into 2025, targeting the Federal Reserve, foreign nations, and U.S. cities in rapid succession.
The cascade of aggressive moves-ranging from a criminal probe of the nation’s central bank to military intervention in Venezuela-has rattled even some Republican allies and set the stage for a volatile midterm election season.
Federal Reserve faces criminal investigation
Federal Reserve Chair Jerome Powell disclosed Sunday that the Justice Department subpoenaed the central bank Friday with the threat of a criminal indictment.
The probe centers on Powell’s previous testimony to Congress about the Federal Reserve’s building renovations, according to Amanda S. Bennett.
Trump has publicly pressured the Fed to lower interest rates, culminating in a Tuesday speech in Detroit where he declared: “That jerk will be gone soon.”
Republican unity showed its first cracks after Powell’s revelation. Fox Business host Maria Bartiromo, typically a staunch Trump defender, warned on her Monday program:
> “It just feels like most on Wall Street do not want to see this kind of fight. The president has very good points, certainly. But Wall Street doesn’t want to see this kind of investigation.”
The Federal Reserve sets benchmark interest rates that influence mortgages, car loans, and business borrowing. Undermining its independence could backfire by pushing borrowing costs higher instead of lower, economists note.
The DOJ has already filed criminal charges against former FBI Director James Comey, New York Attorney General Letitia James, and former national security adviser John Bolton in the past year.
Venezuela operation expands U.S. entanglements
Earlier this month U.S. forces removed Venezuelan President Nicolás Maduro and his wife from the country, marking a dramatic departure from Trump’s “America First” campaign promises.
The administration now claims it will control Venezuelan oil sales and run the South American nation from Washington. Trump posted a meme labeling himself the “acting president of Venezuela.”
He says U.S. oil companies are prepared to invest $100 billion to revive Venezuela’s petroleum industry.
Trump has also threatened leadership in Cuba and Iran while insisting the United States will control Greenland “one way or the other.” Greenland is an autonomous territory of Denmark, a NATO member.
> “NATO becomes far more formidable and effective with Greenland in the hands of the UNITED STATES,” Trump wrote Wednesday on social media. “Anything less than that is unacceptable.”
Immigration raids turn deadly
The administration deployed 2,000 ICE agents to Minnesota after alleging fraud within the state’s Somali community.
A federal agent shot and killed Renee Good, a 37-year-old mother of three, during a confrontation in Minneapolis. Officials claim Good tried to strike the agent with her car, but local leaders dispute that account based on online videos.
Cleveland Mayor Justin Bibb, who chairs the Democratic Mayors Association, described the atmosphere:
> “There’s so much uncertainty across my city right now. The ICE raids in Minneapolis have really shocked the consciousness of many of my residents.”
On Tuesday Trump said agents are targeting:
- Thousands of convicted murderers
- Drug dealers and addicts
- Rapists
- Violent escaped prisoners
- Dangerous individuals from foreign mental institutions
Midterms test Trump’s gamble
Voters will deliver their verdict in November when Republicans aim to keep control of Congress for the final two years of Trump’s presidency.
Just 37% of U.S. adults approve of Trump’s handling of the economy, according to a January poll by The Associated Press-NORC Center for Public Affairs Research. Economic approval has remained low throughout his second term.
Democratic campaign strategy centers on affordability concerns. Rep. Suzan DelBene, who leads the Democrats’ House campaign arm, said:
> “Donald Trump’s visit to Michigan puts a glaring, unflattering spotlight on how he and House Republicans have failed to address the affordability crisis.”
Progressive activists want sharper focus on what they call authoritarian power grabs. Ezra Levin, co-founder of protest group Indivisible, warned:
> “Authoritarians don’t willingly give up power. When weakened and cornered they lash out.”
Republican National Committee spokesperson Kiersten Pels countered:
> “Voters elected President Trump to put American lives first – and that’s exactly what he’s doing. President Trump is making our country safer.”
Trump told House Republicans he expects to be impeached if the GOP loses the midterms.
Yale historian Joanne B. Freeman summarized the moment:
> “The presidency has gone rogue. It’s something we haven’t seen in this way before.”
