Jerome Powell, the steady-hand Fed chair steering US money policy since 2018, dropped a bombshell on January 11, 2026: grand jury subpoenas from the Department of Justice slammed the Federal Reserve, hinting at criminal charges tied to his June 2025 Senate testimony.
He laid it out plain in a video statement, spotlighting a multi-year fix-up of historic Fed buildings like the Eccles HQ, a $2.5 billion push that caught eyes amid budget hawks.
Powell, tapped first by Trump and then re-upped by Biden, framed the move as payback for holding interest rates firm against White House pleas for slashes to juice growth and trim debt costs.
Fresh off the January FOMC meeting, where rates stayed put amid solid jobs and cooling prices, he dodged politics in his presser but stressed the economy’s firm ground. Critics see it as Trump’s playbook redux, probing for “cause” to boot him before his May chair term ends, though his board seat runs to 2028.
Trump Tension Boils Over Again
President Trump’s return cranked up the heat on Powell, echoing first-term rants calling him an “enemy” for hikes that cooled markets.
Now, with inflation tamed but growth sluggish, Trump blasts high rates for choking business, eyeing swaps like ex-Fed governor Kevin Warsh. Powell’s no-cut stance drew fire, and whispers of OMB digs into Eccles overruns fueled removal talk.
Jerome Powell (Credit: CNN)
Legal eagles nod presidents can’t fire chairs sans cause, but this DOJ jab tests that, eyeing testimony as leverage. Powell hit back hard: threats aren’t about oversight or fixes, but about punishing independent rate calls over political wants.
Ex-chairs Greenspan, Bernanke, and Yellen, plus Treasury vets like Paulson and Geithner, fired off a joint defense, slamming it as emerging-market-style intimidation that wrecks trust. Eleven central bank leaders worldwide, from the ECB to the Bank of England, piled on with solidarity shouts.
Echoes Shake Markets and Minds
Gallup pegged Powell tops in popularity last December, his pandemic playbook and inflation smackdown earning street cred despite Trump barbs. Social media lit up with fan edits and AI anthems backing him, while polls show 70% say no to purging dissenters.
Senate Banking’s Thom Tillis, a Republican, vowed to stall all Fed nominees till the probe clears, joined by Murkowski in shielding independence.
Powell’s path from Carlyle partner to crisis navigator built a rep as a bipartisan fixer, from Princeton poli-sci to Georgetown law, now staring down this mess. As Trump eyes his pick, Powell digs in, vowing to serve sans fear, eyes on the dual mandate of steady prices and full jobs.
Folks watch closely; this clash tests if politics can bend the Fed’s spine. Powell stays mum on successors but urges whoever follows to guard that firewall fiercely. Markets shrug so far, but the stakes feel sky-high, with everyday wallets hanging in the balance. Keep tabs on those hearings; they could rewrite money rules for good.
Sam & Cat hit Nickelodeon airwaves in 2013, teaming iCarly’s rough-edged Sam Puckett with Victorious’s ditzy Cat Valentine for babysitting capers. Early buzz was huge; the network doubled the episode order from 20 to 40 based on solid ratings. Kids tuned in for the odd-couple laughs, but off-screen vibes soured quickly.
Jennette McCurdy, as Sam, sat out the 2014 Kids’ Choice Awards, firing off a tweet about Nickelodeon putting her in a “compromising, unfair situation” right after some private photos leaked online.
Talk swirled that Ariana Grande, playing Cat, pulled bigger paychecks even though they split screen time evenly, especially as Grande’s single “Problem” blew up her music game.
Grande clapped back on Twitter, saying they locked in equal pay from the jump and the chatter was nonsense. McCurdy later spilled in her book I’m Glad My Mom Died that bad feelings stacked up; she chafed at Grande getting breaks for singing gigs while she toughed it out.
By April 2014, cameras stopped with four episodes in the can, and whispers of bad blood got loud. McCurdy ditched following Grande on socials, and Grande’s wrap-up post name-dropped everyone except her co-star. Their rapport felt more like squabbling siblings than seamless partners.
Creator Dan Schneider, already under fire for workplace gripes, got barred from the set and called shots from afar, cranking the tension. Nickelodeon dropped the cancellation bomb that July, all polite nods to the team, but no season two.
Grief Hit McCurdy Hardest
Right when drama peaked, McCurdy’s world flipped: her mom passed from cancer just six days before she was dragged back to set. She powered through with Vines and scenes to dodge the hurt, but it wrecked her headspace. Looking back, she tagged those days as rock bottom, faking smiles over fresh loss.
Sam and Cat (Credit: Prime Video)
Her memoir lays bare the Nickelodeon grind, dubbing Schneider “The Creator” for pushing her into awkward spots and underage drinks. Sam & Cat rubbed salt in; Sam’s tough act clashed with her raw state, worse after her mom was obsessed with the role over real life.
She still flinches at the show’s name, tied to shame from those teen traps. Costs ballooned, and fixes like recasts seemed pointless. McCurdy craved fresh starts elsewhere anyway.
Network Dodge and Star Splits
Nickelodeon kept it vague: production wrapped, thanks, and goodbyes. Insiders pinned it on mismatched stars and Schneider’s issues. Pulling the plug nipped worse headlines in the bud.
Ariana shot to pop queen status, leaving Cat in the dust. McCurdy bailed on acting, helmed her solo stage play, and scored big with that memoir, chasing indie vibes. Fans stream the 36 episodes, chewing over might-have-beens.
Equal cash and counseling could have helped? It spotlighted kid actor struggles way before Nickelodeon’s wider mess blew open. McCurdy’s truth lands differently today, proof that bright lights mask brutal realities. Buddy shows like this flop hard once the spark dies.
