Bill Cohan and Peter dig into Donald Trump’s latest spat—this time with Fed Chair Jerome Powell. As Trump pushes for rate cuts amid shaky, self-inflicted economic headwinds, Powell is vowing independence. Now, Trump’s hinting at ousting him before his term ends. Then, the duo turns to Newsmax’s I.P.O. circus, as Bill breaks down how valuable the MAGA-adjacent media company actually is.

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