RECEIPTS: Why the Hell Does Trump want to buy Spirit Airlines?

In this week's episode of The Bulwark's Receipts, hosts JVL and Catherine Rampell dissect the political and economic fallout from Donald Trump's ongoing campaign to undermine Federal Reserve Chair Jerome Powell. The episode opens with the surprising announcement that Judge Jeanine Pirro has paused her criminal investigation into Powell, though the hosts caution this may be a tactical retreat rather than a surrender—especially given that Powell himself initiated an internal IG probe and that the investigation could be revived. The political maneuvering is further complicated by Senator Tom Tillis blocking Kevin Warsh’s confirmation as Powell’s successor until the investigation ends. Rampell expresses deep concern that Warsh, despite his public commitment to Fed independence, may be forced to yield to Trump’s pressure, particularly given the president’s history of weaponizing investigations and his clear preference for aggressive rate cuts. The episode then shifts to economic indicators, highlighting historically low consumer confidence despite a relatively stable economy, and explores the disconnect between stated sentiment and actual behavior—such as record boat sales. A major concern is the looming impact of rising food prices driven by war-related fuel costs and fertilizer inflation, with the Strait of Hormuz remaining a potential flashpoint. The segment ends with a sharp critique of partisan blame-shifting, particularly the 76% of Republicans who blame Democrats for inflation, which the hosts see as a deliberate misdirection rather than honest economic analysis.