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The Michael Steele Podcast

A Moment Of Clarity: A Trump Power Grab Targets The Federal Reserve

The Michael Steele Podcast

The Bulwark

Politics, Government, History, News

4.83.1K Ratings

🗓️ 27 August 2025

⏱️ 2 minutes

🧾️ Download transcript

Summary

Michael Steele sounds the alarm over a critical situation at the Federal Reserve. He argues that any attempt to remove Federal Reserve Governor Lisa Cook from her post could not only jeopardize the Fed's independence but also set a dangerous precedent for the future of democratic governance.

Catch Michael Steele on The Weeknight Mondays - Fridays at 7pm EST on MSNBC: https://www.msnbc.com/weeknight

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Listen to The Michael Steele Podcast: https://www.thebulwark.com/s/the-michael-steele-podcast

Watch The Michael Steele Podcast: https://www.youtube.com/playlist?list=PLJNKzTkCZE9uNqPiKYw5eU5YkS_mMsr6o

Transcript

Click on a timestamp to play from that location

0:00.0

And now for a moment of clarity.

0:06.4

He doesn't have the American people behind him.

0:09.2

And I think that's what you see.

0:10.2

And then you have the Epstein files, which he continues to want to attract.

0:13.3

All rowing three back to Epstein.

0:15.1

All row and lose our economy over the Epstein files.

0:17.7

I'll leave back to Epstein.

0:18.6

So I just want to drop in the middle of the table because

0:21.0

I like doing that, Simone knows. To all the points that have been made, which are excellent

0:27.3

points, and they're important points, and I think a lot of folks in our audience can appreciate

0:31.6

that, but I think they would probably wind up at the same spot I am right now after listening

0:37.1

to everyone speak.

0:39.3

So what do we do to protect this woman? What do we do to protect Ms. Cook? Who we know is

0:44.9

trying to be, is about to be railroaded out of her job. Who we know the president does not have

0:49.6

the authority, to your point, to fire. Who we know the Supreme Court itself has says the president does not

0:56.3

have the authority to fire, but Donald Trump is going to fire her. Donald Trump is going to

1:02.4

push her. He's going to try. He's going to try. So, but the question is, and it goes back to a real

1:06.9

important question you raised about the American people and how they look at something like this.

1:12.3

Do they connect with her? Do they understand exactly what removing her means to the effectiveness of our government,

1:21.5

the transparency and the importance of separation of powers while we don't have a unitary executive folks, which is why we have three branches of powers. It's why we don't have a unitary executive folks,

1:28.9

which is why we have three branches of government,

1:31.7

which is why the founders spent three years fighting through that crap

...

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