ICYMI: Trump Tries to Remove a Fed Governor
1A
NPR
4.3 • 4.5K Ratings
🗓️ 27 August 2025
⏱️ 13 minutes
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Summary
On Monday, the president posted orders on Truth Social to remove Federal Reserve governor Lisa Cook – effective immediately. The president claims she committed mortgage fraud, an allegation first raised by a Trump loyalist and housing official.
Cook, who was appointed by former President Joe Biden, responded in a statement saying that Trump has no authority to remove her and that she will continue her duties. Cook has not been charged with a crime.
It’s an unprecedented move that puts into question the independence of the central bank. So, what comes next and what does this mean for the Fed?
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Transcript
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| 0:00.0 | Support for NPR and the following message comes from the Robert Wood Johnson Foundation. |
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| 0:27.5 | You're listening to the One- podcast. I'm Jen White, and this is, in case you missed it, |
| 0:31.2 | where we bring you some of the week's most important conversations you might have missed. |
| 0:35.0 | President Donald Trump is ramping up his attacks on the Federal Reserve. |
| 0:38.7 | On Monday, Trump posted orders on Truth Social to remove Federal Reserve Governor Lisa Cook effective immediately. The president claims she committed mortgage fraud. |
| 0:44.8 | It's an unprecedented move by a president. Cook was appointed by former President Joe Biden, |
| 0:49.8 | and she's the first black woman to serve in the role. She responded in a statement saying Trump has no |
| 0:54.8 | authority to remove her and she'll continue her duties. Cook has not been charged with a crime and her |
| 0:59.9 | attorney says they will file a lawsuit challenging the firing. So what comes next and what does this |
| 1:05.3 | mean for the independence of the central bank? Mike Burr joins us from London after the break. He's the |
| 1:10.6 | Wall Street editor at |
| 1:11.5 | The Economist and shares all the latest. Stay with us. We've got a lot to get to. |
| 1:20.0 | Support for NPR and the following message comes from the Robert Wood Johnson Foundation. |
| 1:25.2 | RWJF is a national philanthropy, |
| 1:31.5 | working toward a future where health is no longer a privilege but a right. |
| 1:34.6 | Learn more at RWJF.org. |
| 1:38.5 | Mike, welcome back to the program. |
| 1:39.6 | Great to be here, Jen. |
| 1:44.1 | So let's start with this allegation of mortgage fraud against Cook. |
| 1:45.1 | Where is this coming from? |
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