In her most foolish act yet, Mia attempts to explain what the Federal Reserve is, why it matters, and how Trump seizing control of it could crash the world economy.

Sources:

https://fortune.com/2025/08/09/trump-fed-pick-stephen-miran-existential-threat-central-bank-independence/
https://www.reuters.com/legal/government/supreme-court-weighs-trumps-firing-feds-lisa-cook-by-social-media-2026-01-20/
https://fred.stlouisfed.org/series/FEDFUNDS
https://www.cnbc.com/2026/01/20/powell-could-stay-at-fed-even-after-being-removed-as-chair.html
https://fred.stlouisfed.org/series/RPONTSYD#
https://apnews.com/article/jerome-powell-federal-reserve-trump-af06d80b28be9c8a5de9c3b2fe33fa3d
https://www.federalreserve.gov/aboutthefed/the-fed-explained.htm
https://www.cfr.org/articles/mar-lago-accord-not-recipe-success
https://www.newyorkfed.org/research/staff_reports/sr1047.html
https://fortune.com/2025/08/08/what-to-know-about-stephen-miran-the-tariff-proponent-trump-just-nominated-to-join-the-feds-board-of-governors/
https://escholarship.org/uc/item/0sg0782h
https://www.newyorkfed.org/aboutthefed/goldvault.html
https://libcom.org/article/debt-first-5000-years-david-graeber
https://www.investopedia.com/terms/g/greenspanput.asp
https://finance.yahoo.com/news/trump-fed-chair-search-becoming-163021470.html
https://www.newyorkfed.org/aboutthefed/more-about-what-we-do
https://www.stlouisfed.org/in-plain-english/who-owns-the-federal-reserve-banks
https://www.federalreserve.gov/faqs/about_14986.htm
https://www.federalreserve.gov/newsevents/speech/powell20260111a.htm
https://www.cnn.com/2026/01/19/politics/supreme-court-shield-federal-reserve-from-donald-trump

In her most foolish act yet, Mia attempts to explain what the Federal Reserve is, why it matters, and how Trump seizing control of it could crash the world economy.
Sources:
<a href="https://fortune.com/2025/08/09/trump-fed-pick-stephen-miran-existential-threat-central-bank-independence/" data-ogsc="" data-outlook-id="b176b99b-0ad5-4106-8d41-bc4cfa3efca7">https://fortune.com/2025/08/09/trump-fed-pick-stephen-miran-existential-threat-central-bank-independence/</a> <a href="https://www.reuters.com/legal/government/supreme-court-weighs-trumps-firing-feds-lisa-cook-by-social-media-2026-01-20/" data-ogsc="" data-outlook-id="8db21b32-6d51-44c9-9d29-f8be6fee758d">https://www.reuters.com/legal/government/supreme-court-weighs-trumps-firing-feds-lisa-cook-by-social-media-2026-01-20/</a> <a href="https://fred.stlouisfed.org/series/FEDFUNDS" data-ogsc="" data-outlook-id="1f9b2e96-ba4b-4ce9-90e0-381398415dbb">https://fred.stlouisfed.org/series/FEDFUNDS</a> <a href="https://www.cnbc.com/2026/01/20/powell-could-stay-at-fed-even-after-being-removed-as-chair.html" data-ogsc="" data-outlook-id="dcece95a-9758-4a63-aa68-b03ba33db850">https://www.cnbc.com/2026/01/20/powell-could-stay-at-fed-even-after-being-removed-as-chair.html</a> <a href="https://fred.stlouisfed.org/series/RPONTSYD#" data-ogsc="" data-outlook-id="0cf85af0-9398-4620-afc0-185004d91c52">https://fred.stlouisfed.org/series/RPONTSYD#</a> <a href="https://apnews.com/article/jerome-powell-federal-reserve-trump-af06d80b28be9c8a5de9c3b2fe33fa3d" data-ogsc="" data-outlook-id="16a8d179-2000-4076-a33a-75100a45362c">https://apnews.com/article/jerome-powell-federal-reserve-trump-af06d80b28be9c8a5de9c3b2fe33fa3d</a> <a href="https://www.federalreserve.gov/aboutthefed/the-fed-explained.htm" data-ogsc="" data-outlook-id="86a48842-4c03-4b3e-a205-5267a90f57cb">https://www.federalreserve.gov/aboutthefed/the-fed-explained.htm</a> <a href="https://www.cfr.org/articles/mar-lago-accord-not-recipe-success" data-ogsc="" data-outlook-id="a6f0a82c-6735-40b5-8621-4119bdebea80">https://www.cfr.org/articles/mar-lago-accord-not-recipe-success</a> <a href="https://www.newyorkfed.org/research/staff_reports/sr1047.html" data-ogsc="" data-outlook-id="2d8566c1-c74f-4085-8a28-41ca416560c3">https://www.newyorkfed.org/research/staff_reports/sr1047.html</a> <a href="https://fortune.com/2025/08/08/what-to-know-about-stephen-miran-the-tariff-proponent-trump-just-nominated-to-join-the-feds-board-of-governors/" data-ogsc="" data-outlook-id="c56c6d65-5c46-4317-8554-de93a0ee40d6">https://fortune.com/2025/08/08/what-to-know-about-stephen-miran-the-tariff-proponent-trump-just-nominated-to-join-the-feds-board-of-governors/</a> <a href="https://escholarship.org/uc/item/0sg0782h" data-ogsc="" data-outlook-id="368f12e2-ddc4-455b-b4e6-6d99c515f21e">https://escholarship.org/uc/item/0sg0782h</a> <a href="https://www.newyorkfed.org/aboutthefed/goldvault.html" data-ogsc="" data-outlook-id="58aafc25-e2ed-4eb8-90a8-8b1b2c04bf4f">https://www.newyorkfed.org/aboutthefed/goldvault.html</a> <a href="https://libcom.org/article/debt-first-5000-years-david-graeber" data-ogsc="" data-outlook-id="c4ee89f0-3d51-407e-a65a-bed0cd3e3a18">https://libcom.org/article/debt-first-5000-years-david-graeber</a> <a href="https://www.investopedia.com/terms/g/greenspanput.asp" data-ogsc="" data-outlook-id="e8f9b994-f6ee-4e9c-aa47-5f9525aea74a">https://www.investopedia.com/terms/g/greenspanput.asp</a> <a href="https://finance.yahoo.com/news/trump-fed-chair-search-becoming-163021470.html" data-ogsc="" data-outlook-id="e9a7478d-5423-48be-8bf4-bced22c02235">https://finance.yahoo.com/news/trump-fed-chair-search-becoming-163021470.html</a> <a href="https://www.newyorkfed.org/aboutthefed/more-about-what-we-do" data-ogsc="" data-outlook-id="c054f4fa-d34f-4e0b-98fc-c98fbe0e96c9">https://www.newyorkfed.org/aboutthefed/more-about-what-we-do</a> <a href="https://www.stlouisfed.org/in-plain-english/who-owns-the-federal-reserve-banks" data-ogsc="" data-outlook-id="79513d0d-7366-467d-98f7-567eb4ea77d7">https://www.stlouisfed.org/in-plain-english/who-owns-the-federal-reserve-banks</a> <a href="https://www.federalreserve.gov/faqs/about_14986.htm" data-ogsc="" data-outlook-id="ba30b518-1908-45ac-a092-a4caf398872e">https://www.federalreserve.gov/faqs/about_14986.htm</a> <a href="https://www.federalreserve.gov/newsevents/speech/powell20260111a.htm" data-ogsc="" data-outlook-id="db8db348-8e54-4f67-b6b8-cb141c6659a2">https://www.federalreserve.gov/newsevents/speech/powell20260111a.htm</a> <a href="https://www.cnn.com/2026/01/19/politics/supreme-court-shield-federal-reserve-from-donald-trump" data-ogsc="" data-outlook-id="ab8ecbf7-9582-4bf9-b8bc-042bb8795a8d">https://www.cnn.com/2026/01/19/politics/supreme-court-shield-federal-reserve-from-donald-trump</a>

It Could Happen Here started as an exploration of the possibility of a new civil war. Now a daily show, it's evolved into a chronicle of collapse as it happens, and an exploration of how we might build a better future. Every day Robert Evans, Garrison Davis, Mia Wong, and James Stout take you on a jaunty walk through the burning ruins of the old world and towards a better one that lays just on the horizon.

It Could Happen Here started as an exploration of the possibility of a new civil war. Now a daily show, it's evolved into a chronicle of collapse as it happens, and an exploration of how we might build a better future. Every day Robert Evans, Garrison Davis, Mia Wong, and James Stout take you on a jaunty walk through the burning ruins of the old world and towards a better one that lays just on the horizon.

It Could Happen Here

Why the Federal Reserve Crisis Matters

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/d36a7c8a-00c9-4028-9881-b3d90179977f/transcript