Ashley Carman, Reporter at Bloomberg, joins The Rundown to break down whether Spotify is entering a more fragile phase under its new co-CEOs. We dig into mounting competitive pressure from YouTube and Netflix, the state of podcast monetization, and whether Spotify still has real pricing power. Carman also explains how AI is quietly reshaping the creator economy—and what it all means for the future of the platform.

The Federal Reserve is one of the most powerful institutions in America, yet most people don’t fully understand how it works or why it matters.

In this weekend deep dive, Zaid breaks down why the Fed was created, how it evolved into the backbone of the U.S. financial system, and the critical role it has played during the Great Depression, World War II, the 2008 financial crisis, and the COVID-19 pandemic.

The episode also dives into the escalating clash between President Trump and Fed Chair Jerome Powell, why Trump wants lower interest rates, and why the Fed’s independence is now facing one of its biggest tests in decades.

From bank runs and inflation to political pressure and market credibility, this episode explains why the future of the Fed could shape the future of the economy.

If you enjoyed this episode, check out my interview with finance journalist and author of the bestseller book 1929, Andrew Ross Sorkin.

Market update for January 16, 2026

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In Today’s Episode:

• Zaid quoted in the WSJ: “he just has aura”
• Eli Lilly and Novo Nordisk hit with antitrust lawsuit
• Netflix expands its Sony Pictures deal and pushes further into video podcasts
• Energy stocks slide after the White House unveils a plan to stop power bills from going up
• Fun fact of the day: Wall Street banks posted a record $134 billion in trading revenue (while still cutting thousands of jobs)