Loren and Radha reminisce about wintry memories and Benedict Cumberbatch before a cocktail parties worth of gossip on Fed rates, tariffs, and appropriations politics. In dumpster fires, they explore the strange ways the federal government shapes higher education, including event moves to change accreditation. And we're delighted to welcome CNAS's Carrie Cordero to discuss what we SHOULD expect of federal law enforcement and how to think about reforms to DHS, near and long term.