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Today, Explained

Fed up

Today, Explained

Vox

Politics, Daily News, News

4.310.3K Ratings

🗓️ 27 August 2025

⏱️ 29 minutes

🧾️ Download transcript

Summary

President Donald Trump wants to control interest rates. To do that, he needs to control the Federal Reserve. So he's turned to a toady to dig up dirt on Fed governor Lisa Cook. This episode was produced by Rebeca Ibarra and Devan Schwartz, edited by Amina Al-Sadi, fact-checked by Laura Bullard, engineered by Andrea Kristinsdottir and Patrick Boyd, and hosted by Noel King. Listen to Today, Explained ad-free by becoming a Vox Member: vox.com/members. Transcript at vox.com/today-explained-podcast. President Trump mocking Federal Reserve Chair Jerome Powell at a recent event. Photo by Andrew Harnik/Getty Images. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0

Taylor Swift and Travis Kelsey are engaged.

0:02.8

And we can't come to the wedding out.

0:06.0

But President Trump thinks interest rates are too high, so we have to do that instead.

0:10.0

For months, the president has engaged in Fed-related criticism about the Reserve Chair Jerome Powell.

0:18.0

He's a terrible Fed chair. I was surprised he was appointed.

0:22.7

Trump actually appointed him to that job, you may recall.

0:25.8

There's been criticism about the Fed doing an expensive building rental.

0:29.4

We'd like to see it get finished.

0:31.6

And in many ways, it's too bad it started.

0:34.0

And now Trump has trained his intermittent focus on Lisa Cook, a governor on the Fed's board.

0:38.7

Trump says he's going to fire her for committing mortgage fraud.

0:41.3

She's saying basically bring it.

0:43.2

You've heard all that.

0:44.0

But who is the Trump appointee who went digging for dirt on Cook?

0:48.0

That's ahead on today, Explain from Box.

0:50.1

You're ready now, babe. Support for today,

1:00.2

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1:02.2

Fall is here.

1:03.1

Might be time to find some nice new pieces you can wear again and again.

1:06.6

With Sacks Fifth Avenue, it can be a breeze to shop for your personal style.

1:10.1

Like maybe a relaxed

1:11.6

Prada Blazer or Gucci Loafer's that are great for both work and the weekend. This is very Sean.

...

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