On Sunday evening, FBI Director Christopher Wray announced his resignation – effective January 20, 2025 – in an interview at CBS’ “60 Minutes.”

The FBI director’s term is set at ten years to insulate the position from political pressure. (At least, theoretically.) But FBI directors serve at the pleasure of the president and can be removed for any reason.

With just one week until Inauguration Day, President-elect Trump, who appointed Wray in 2017, has welcomed the resignation, saying it’s an end to the weaponization of the Justice Department.

Despite acknowledging the current “dangerous time” for the nation, Wray explained his decision was motivated by a desire to ensure an orderly transition and prevent further politicization of the FBI.

Wray, who has served seven years, cited President-elect Donald Trump's desire for new leadership as the primary reason for his departure.

Wray's tenure, however, has been marked by controversies, including the Mar-a-Lago raid and his questioning of the first assassination attempt at the Trump rally in Butler, Pennsylvania.

Trump has nominated loyal ally Kash Patel to succeed Wray, a choice which signals a potential shift in the FBI’s priorities.

Your Rundown for Monday, January 13, 2025...

Patel’s Powerful Alliance

House Oversight and Government Reform Committee Chair James Comer (R-KY) is taking proactive steps to support this transition.

Comer plans to meet with Patel this week to discuss how his committee can assist in addressing what he and Patel perceive as deep-rooted issues within the government.

• “I want [Patel] to know that our committee will assist in any way possible to help him disrupt the ‘Deep State,’” Comer said during an interview on Thursday.

If confirmed, Patel intends to revamp the FBI, reflecting his commitment to expose entrenched bureaucratic resistance.

Comer has expressed his committee’s willingness to aid Patel’s efforts, suggesting a united front in the incoming administration’s approach to government reform.

To that end, Comer suggests his committee could provide names of officials who “obstructed” previous investigations, including the House GOP’s unsuccessful impeachment inquiry into outgoing President Joe Biden.

As Patel’s confirmation hearing approaches – and Senate hearings on Trump’s cabinet appointees get underway this week – political wrangling will intensify.

Democrats and so-called RINOs express concerns about the politicization of the FBI, while Trump supporters view this as a necessary step to address dysfunction within the agency.

This unfolding situation represents a pivotal moment in the relationship between the FBI, Congress and the executive branch, potentially reshaping the landscape of federal law enforcement and government accountability under the new Trump administration.

Market Rundown for Monday, Jan. 13, 2025

S&P 500 futures are down 0.65% to 5,825.

Oil is up 1.75% to $77.90 for a barrel of WTI.

Gold is down 0.85% to $2,692.70 per ounce.

And Bitcoin is down 3.45% to $91,400.