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After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup

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After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup

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Markets tumble worldwide as Fed resets expectations: $400 billion wiped off SpaceX stock
PoliticsDonald Trump

Trump calls on FCC chair to impose ‘maximum fines and punishment’ on Paramount’s CBS over 60 Minutes

Christiaan Hetzner
By
Christiaan Hetzner
Christiaan Hetzner
Senior Reporter
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Christiaan Hetzner
By
Christiaan Hetzner
Christiaan Hetzner
Senior Reporter
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April 14, 2025, 10:12 AM ET
U.S. President-elect Donald Trump looks on during Turning Point USA's AmericaFest at the Phoenix Convention Center on December 22, 2024 in Phoenix, Arizona.
Through Executive Order 14215, President Trump is asserting he has the full authority over independent federal agencies like the FCC and the Federal Reserve, previously under congressional oversight, and can replace agency heads at will. Rebecca Noble—Getty Images
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  • President Donald Trump told FCC chair Brendan Carr that he should pull the broadcasting license and severely punish CBS for its reporting. In February, he signed an executive order granting him full authority over independent agencies including the FCC and the Federal Reserve previously overseen by Congress, including firing their respective heads.

President Trump is demanding federal regulators yank the broadcasting license for Paramount network CBS and levy the harshest possible fine for what he called “illegal” reporting on his administration.

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The White House took issue with its 60 Minutes news program after it aired two segments on Sunday regarding the war in Ukraine and Trump’s plan to annex Denmark’s autonomous territory of Greenland.

He argued that they depicted the country—and by extent his administration—“falsely, inaccurately, and fraudulently,” though he did not explain what he meant nor deny any specific part of the reporting.

It represents the latest intervention in a politically independent agency over which the president now aims to assert direct control.

“They should lose their license!” Trump posted to Truth Social. “Hopefully, the Federal Communications Commission (FCC), as headed by its highly respected chairman, Brendan Carr, will impose the maximum fines and punishment, which is substantial, for their unlawful and illegal behavior.”

Trump claimed that almost every week, the Sunday news program engages in “derogatory and defamatory” reporting, but this 60 Minutes was worse because it involved not one but two reports covering issues related to the president’s agenda. He called the program a “dishonest political operative.”

Trump moves to assert full control over independent agencies

In theory, Carr could conceivably refuse Trump’s demand or follow through only partly, since the FCC has thus far operated as an independent federal agency under the oversight of Congress, similar to the Federal Reserve. 

In practice, defying it outright would prove difficult, however, as the legislature has deferred to the White House following Trump’s convincing November election victory. 

With little to no restraint on his administration, Trump has already signed far more executive orders than any other president in history.

One of those, Executive Order 14215, explicitly seeks to strip the independence of federal agencies and place all regulators, including Carr, under the direct authority of the White House.

Fears are growing Trump will sack Fed chair Powell

This would enable Trump to fire commissioners like the FCC chair as he sees fit—”at will” rather than “for cause.”

Indeed, Trump has already removed, among others, the two legally mandated Democrats who jointly run the Federal Trade Commission together with three Republicans. 

That decision is now being contested in court under the landmark 1935 Humphrey’s Executor v. United States ruling, which protects senior civil servants against wrongful termination.

With Trump now attempting to politicize the duties of independent federal regulators, fears are growing that he will sack Fed chair Jay Powell should the Supreme Court not uphold the longstanding precedent.

Neither the FCC nor CBS responded to a Fortune request for comment by press time.

Trump is already suing Paramount and CBS for election interference, initially for $10 billion in purported damages, before doubling that to $20 billion in February as part of an amended lawsuit.

Subscribe to Fortune Gulf Brief. Every Tuesday, this new newsletter delivers clear-eyed, authoritative intelligence on the deals, decisions, policies, and power shifts shaping one of the world’s most consequential regions, written for the people who need to act on it. Sign up here.
About the Author
Christiaan Hetzner
By Christiaan HetznerSenior Reporter
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Christiaan Hetzner is a former writer for Fortune, where he covered Europe’s changing business landscape.

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