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The Daily Punch

How Trump is blowing up capitalism

The Daily Punch

Punchbowl News

Government, News, Politics

4.3708 Ratings

🗓️ 13 January 2026

⏱️ 13 minutes

🧾️ Download transcript

Summary

President Donald Trump’s economic approach is sending shockwaves through Wall Street and corporate America. Jake and Anna discuss how Trump is changing American capitalism. Plus, inside a heated meeting where vulnerable House Democrats confronted DNC Chair Ken Martin over the committee’s anemic fundraising and midterm plans. Watch this episode on YouTube here! Punchbowl News is on YouTube Subscribe⁠⁠⁠⁠ to our channel today to see all the new ways ⁠we’re investing in video.⁠⁠⁠⁠ Want more in-depth daily coverage from Congress?⁠⁠⁠ ⁠Subscribe⁠⁠⁠⁠ to our free Punchbowl News AM newsletter at punchbowl.news.⁠⁠⁠⁠ Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Energy is all around us. It's how we move, grow, build, and make every day a little easier.

0:07.7

Natural gas and oil, proudly powering America. But energy demand is growing.

0:13.0

What we build today will help secure a more affordable, reliable future with enough energy to go around for years to come.

0:20.1

Presented by the American Petroleum Institute.

0:32.8

Good morning. I'm Anna Palmer.

0:34.3

And I am Jake Sherman.

0:35.6

And welcome to The Daily Punch, brought to you by Punchable News. It's Tuesday, January 13th, 2026. Let's get into the mix here are your Washington headlines of the day. Number one, how Trump economics is changing America. Number two, frontliners erupt at the DNC chair. And number three, we've got the latest on government funding and war powers ahead of the congressional recess.

0:55.2

All right, Jake, let's get to it.

0:56.6

We are leading Punchball News a.m. with a very smart top this morning,

1:01.5

looking at how Trump is single-handedly focused across many different areas on policies that are U.S. focused right now that have massive implications

1:14.7

on the economy, everything from crypto to now credit card fees to tariffs to many other things.

1:23.0

And this is having a ripple effect, right, in terms of what corporate America thinks,

1:26.9

in terms of what Wall Street is doing. This is Washington a ripple effect, right, in terms of what corporate America thinks, in terms of what Wall Street is doing.

1:28.9

This is Washington and Trump having a ripple effect across the country.

1:34.1

This is our way of zooming out on the on the Jay Powell situation because we wrote yesterday in three editions, to be honest with you, about how the criminal probe into Jay Powell was backfiring.

1:47.0

I think that was our subject line or it was in our lead, I remember, in the Midday Edition.

1:51.1

But just think about what he's doing right now with big business.

1:54.9

Last night, Anna, I know that you've been covering this for about 600 years, which is the

2:00.3

credit card swipe fee bill from

2:02.9

Roger Marshall and Dick Durbin, which he called on credit card interest rates to be capped to 10%

2:07.8

no later than January 20th, which is a week from today and urge Congress to ban institutional

2:11.9

investors from purchasing single family homes. Talk about deep intervention into the economy,

...

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