SOTS 2nd Hour: Fed Gov. Lisa Cook’s Case Heads To Court – Latest Analysis, Plus: Affirm & Celsius CEOs 8/29/25

Squawk on the Street

CNBC

Investing, News, Business

4.1 • 567 Ratings

🗓️ 29 August 2025

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

This hour: Fed Governor Lisa Cook’s case heads to court. A hearing to temporarily block President Trump from removing her from office kicking off at the top of the hour – Carl Quintanilla, David Faber, and Contessa Brewer got the latest from outside the courtroom, along with analysis on what could come next with a former general counsel for the Fed – now Georgetown law professor. Also top of 10: disappointing consumer sentiment data… The team broke down the numbers with Northern Trust Asset Management’s top strategist - and Moody’s Mark Zandi. Plus: the view from the C-suite… Affirm CEO Max Levchin joined the broadcast to break down the numbers and how the consumer is holding up – along with the Chairman and CEO of Celsius, later on… Talking Pepsi’s decision to raise their stake in the name and what it means for strategy.

Transcript

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0:00.0	Good Friday morning. Welcome to Squawk on the Street. I'm Carl Kingtonia with Contessa Brewer and David Faber here at Post 9 of the New York Stock Exchange.
0:09.7	Sarah Eisen has the morning off. Got breaking news this hour. Fed Governor Lisa Cook's case goes to court.
0:15.2	A hearing to temporarily block the president from removing her from office kicks off pretty much right now.
0:21.1	We've got full team coverage.
0:22.3	Our Eamon Javvers of the courthouse in Washington, Steve Leasman here for analysis.
0:26.6	Let's begin with you, Aman.
0:27.9	Set the scene for us.
0:30.1	Yeah, Carl, what we know is that lawyers for both sides have arrived.
0:34.1	Abby Lolle, the defense attorney for Lisa Cook, who is representing a number of high-profile
0:38.2	people who've been fired or attempted to be fired by President Trump, has arrived here at the
0:42.8	courthouse. There you see him making his way in. Also, the attorneys for the Department of Justice
0:47.5	have arrived here as well, defending the president's prerogatives here. And we've got these
0:52.9	dueling filings now from both sides.
0:55.8	We've got a filing from Fed Governor Lisa Cook in which she's suing the president and the Fed.
1:01.6	And she says, even if Governor Cook had committed the infractions that the president alleges,
1:06.8	which she did not, the president would lack cause to remove her.
1:11.1	And that word cause is the central point of this fight.
1:14.6	You see the Department of Justice filing just this morning on the same point.
1:18.6	They say the president retains a broad discretion to remove a governor for cause.
1:24.6	So the issue before the judge this morning is going to be a what is cause
1:29.8	ultimately mean and then B whether or not to grant a temporary restraining order blocking
1:35.5	the president's attempt to fire Lisa Cook while this lawsuit plays out. So what Lisa
	...

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