President Trump’s growing frustration with the Federal Reserve’s commitment to political independence reached fever pitch over the weekend when Fed Chair Jerome Powell annouced the DOJ has opened a criminal investigation into the Fed. Powell called the probe “unprecedented” and said the Fed uses data, not politics, to make interest rate decisions. In this episode, we get context on the situation from economist Julia Coronado — including how the investigation could have an impact on financial markets.

Officially, the Federal Reserve is being investigated by the Justice Department over office building renovations. But in a video statement Sunday, Fed Chair Jerome Powell said the investigation, which includes a threat of criminal charges, is “a consequence” of the Fed maintaining its independence from President Trump. Plus, later in the episode, how the Warner Bros. deal could affect moviegoers — at home and in theaters.

From the BBC World Service: Recent college graduates say they’re struggling to find entry-level positions. How much of the job market squeeze can be blamed on AI? Plus: Malaysia and Indonesia block access to Elon Musk's AI chatbot Grok, Meta urges Australia to rethink its youth social media ban, and foreign ministers from Denmark and Greenland will meet with U.S. leaders.

According to the just-released December jobs report, only 50,000 people were hired last month, fewer than expected. Overall, the month capped off the slowest year for job creation since 2020 and the second slowest since 2009. Plus, LA fire survivors share personal items lost and found in the aftermath of the blaze.

Altadena residents eager to build more fire-resistant new homes run up against obstacles of expense, labor, availability of materials, and of course, the question of whether insurance will pay for it.

From the BBC World Service: The Iranian government has shut down internet access in response to ongoing protests, with demonstrators calling for the removal of the country’s Supreme Leader. Also, a major recall of Nestle baby formula expands to more countries, and after a volatile 2025, what’s on the horizon for cryptocurrency in the new year?

Supermarket chain Wegmans has made headlines this week for their use of surveillance technology on customers. But they’re far from the only retailer deploying this type of tech to prevent theft — and encourage extra spending. Plus, a retired nurse shares her plans for rebuilding in Altadena.

The homes still left standing after last year’s Eaton Fire face their own set of questions and challenges. What types of structures stand up better to fire damage than others? How can you know when dangerous smoke damage has truly been remediated? And, most crucially, how much are insurance companies actually willing to pay for any of it?

From the BBC World Service: After a rocky 2025, many analysts expect a similarly unsettled 2026. Plus, a new study indicates faster weight gain after quitting GLP-1 drugs, and X has failed to meet a deadline to address explicit content generated by its AI chatbot Grok.

The estimated value of the homes wiped out by the Eaton and Palisades fires one year ago? $27 billion. On a single street in Altadena, 15 houses were destroyed, including that of "Marketplace Morning Report" host David Brancaccio. This morning, Brancaccio checks in with two families on his block — one who decided to sell and one who's already partly rebuilt. Then, how will investors respond to this morning's private payroll data?