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Reading: Trump was surging after the Venezuela raid—then got here Jerome Powell, Greenland and Minnesota. Now it seems like a ‘historic hinge second’ | Fortune
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Asolica > Blog > Business > Trump was surging after the Venezuela raid—then got here Jerome Powell, Greenland and Minnesota. Now it seems like a ‘historic hinge second’ | Fortune
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Trump was surging after the Venezuela raid—then got here Jerome Powell, Greenland and Minnesota. Now it seems like a ‘historic hinge second’ | Fortune

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Last updated: January 26, 2026 1:45 am
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3 weeks ago
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Trump was surging after the Venezuela raid—then got here Jerome Powell, Greenland and Minnesota. Now it seems like a ‘historic hinge second’ | Fortune
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Contents
  • The Fed
  • Greenland
  • Minnesota

President Donald Trump was driving excessive early this month after the U.S. army pulled off a shocking raid that captured dictator Nicolas Maduro.

However simply three weeks later, he has run into important resistance on a number of fronts, difficult his financial, international relations, and immigration insurance policies. The second lethal taking pictures in Minnesota by the hands of federal brokers this weekend has unleashed broad outrage that would sign a tipping level.

“Starting to feel like we are in the midst of a historic hinge moment here,” political scientist Lee Drutman, a senior fellow on the New America assume tank, posted on X.

Trump appeared to acknowledge his new state of affairs, telling the Wall Avenue Journal on Sunday evening that the administration is “reviewing everything” concerning the taking pictures and indicated willingness to finally withdraw immigration officers from Minneapolis.

A retreat may trace at an eroding base after Trump loved widespread help amongst Republicans for a lot of 2025 at the same time as his aggressive tariffs shocked companies and buying and selling companions, together with shut U.S. allies.

However cracks emerged late within the yr as November elections highlighted the affordability disaster and Congress ordered the discharge of the Epstein information on near-unanimous votes. Heavy redactions and the Justice Division’s failure to reveal the entire information by the deadline added to the stress.

The dialog rapidly modified when Maduro was toppled as Trump basked within the U.S. army’s proficiency and his new skill to name the photographs in Venezuela, regardless of grumblings that one other international intervention strayed from his “America first” motto.

The Fed

Then two weeks in the past, Federal Reserve Chairman Jerome Powell issued an unprecedented video assertion that exposed he was going through a Justice Division legal investigation associated to a renovation mission on the central financial institution’s headquarters.

It capped a long-running feud between Powell and Trump, who has repeatedly demanded that charges must be decrease.

The backlash was swift as lawmakers sought to guard the Fed’s independence. Republican Sen. Thom Tillis vowed to dam any nominations to the Fed, together with for Powell’s alternative, till the case was resolved.

Different Republicans rallied round Powell, marking one other divergence from Trump’s earlier lockstep help. And after weeks of teasing that he would quickly nominate a brand new Fed chair, Trump has but to formally supply a reputation.

Nonetheless, the resounding success of the Venezuela operation was persevering with to prop up his confidence, and Trump threatened Iran whereas promising to assist protesters taking up the regime.

Greenland

However then the bravado prolonged to Greenland. After flirting with the concept of taking on the semi-autonomous Danish territory in his first time period and final yr, the insistence that the island belong to the U.S. turned extra pressing after Venezuela.

A number of European international locations, all NATO allies, then deployed troops to Greenland, ostensibly to point out Trump that they have been prepared to safe it from China and Russia, which he warned have been main threats.

However that angered Trump, who introduced tariffs in opposition to the NATO international locations until they supported his bid to take over Greenland. It triggered an existential disaster for the trans-Atlantic alliance as Trump had additionally refused to rule out utilizing the army.

On the World Financial Discussion board this previous week in Davos, livid rounds of diplomacy ensued to tug Trump again from the brink of smashing the almost 80-year-old protection pact. Republicans like Tillis additionally voiced help for NATO.

Canada and Europe held agency on defending Greenland’s sovereignty, contrasting with a much less combative method in final yr’s tariff battles, which yielded a lopsided U.S.-EU commerce pact that’s closely favors Trump.

On Wednesday, he backed down, saying he won’t impose the NATO tariffs and claimed to have a “framework” of a deal that grants the U.S. full entry to Greenland. He later mentioned the U.S. is negotiating sovereignty over components of Greenland that host American army bases.

Minnesota

Fury had been constructing for weeks after Trump surged hundreds of federal brokers to the state to hold out his immigration crackdown.

Saturday’s taking pictures was the third one in Minnesota this month, and the second lethal one. It additionally adopted days of experiences about immigration officers detaining younger kids, arresting U.S. residents, and forcibly getting into properties with out judicial warrants.

Video proof additionally clearly contradicted the Trump administration’s declare that Alex Pretti, who was a nurse in a veterans hospital, threatened the Border Patrol earlier than being shot.

Silicon Valley staff expressed their anger, and Minnesota-based CEOs pleaded for de-escalation. Democrats in Congress stiffened their opposition to an appropriations invoice for the Division of Homeland Safety. In the meantime, extra Republicans have began to voice some uneasiness with federal brokers’ ways and are demanding congressional hearings.

“I think the death of Americans, what we’re seeing on TV, it’s causing deep concerns over federal tactics and accountability,” Oklahoma Gov. Kevin Stitt informed CNN on Sunday. “Americans don’t like what they’re seeing right now.”

Phil Scott, the Republican governor of deep-blue Vermont, took the rhetoric additional. In a publish on X, he mentioned Trump ought to pause the immigration operations to reset the concentrate on criminals. He additionally urged Congress and the courts to “restore constitutionality” within the absence of presidential motion.

“It’s not acceptable for American citizens to be killed by federal agents for exercising their God-given and constitutional rights to protest their government,” he wrote. “At best, these federal immigration operations are a complete failure of coordination of acceptable public safety and law enforcement practices, training, and leadership. At worst, it’s a deliberate federal intimidation and incitement of American citizens that’s resulting in the murder of Americans.”

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TAGGED:feelsFortuneGreenlandHingehistoricJeromeMinnesotamomentPowellraidthensurgingTrumpVenezuela
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