The Man Behind Trump’s Attack on the Fed. Plus. . . Is Britain giving up on jury trials? The former kidfluencer who turned 18 and joined OnlyFans. Inside Iran’s Wikipedia war. And much more.
Bill Pulte, director of the Federal Housing Finance Agency, speaks to reporters outside the West Wing of the White House in Washington, D.C., on January 9, 2026. (Brendan Smialowski/AFP via Getty Images)
It’s Wednesday, January 21. This is The Front Page, your daily window into the world of The Free Press—and our take on the world at large. Today: Ashley Rindsberg on the Wikipedia editors sanitizing the Iranian regime’s atrocities. Is the UK about to end trial by jury? River Page speaks with the child social media star who joined OnlyFans as soon as she turned 18. Madeleine Rowley reports on the social media networks helping migrants navigate Trump’s immigration crackdown. But first: Meet the “Little Trump” waging war on the Federal Reserve. Today, the Supreme Court will hear arguments in Trump v. Cook, the case brought by Lisa Cook, a member of the Federal Reserve Board of Governors, to prevent President Donald Trump from firing her, as he has been seeking to do since August. Under the law, a Fed governor can only be removed “for cause”; Trump’s ostensible rationale is that Cook, an ally of Fed chairman Jerome Powell, is guilty of mortgage fraud, an allegation she has “unequivocally” denied. Trump is also turning up the heat on Powell, of course—indeed, the administration launched a different investigation against him. Who is behind this ruse? In The Free Press today, Bethany McLean, the business journalist who is often credited with being the first to smell a rat at Enron, offers an answer. His name is Bill Pulte, and he leads a small agency called the Federal Housing Finance Agency, which oversees Fannie Mae and Freddie Mac, the government-controlled behemoths that guarantee a staggering 70 percent of all mortgages issued in the U.S. Bethany’s sources, from Wall Street to Washington to the housing industry, say things like “bull in a china shop” and “dictator” to describe a man who is “widely disliked within the administration” but has the support of Donald Trump Jr. and the president himself. And Pulte appears to view doing Trump’s dirty work as part of his mandate. He has allegedly used his position to get information about mortgages held by people Trump views as his political enemies, like New York attorney general Letitia James and California senator Adam Schiff—and Lisa Cook. Read Bethany’s piece to learn about this largely unknown but powerful official that some call “Little Trump.” —Joe Nocera |