The risk of firing a central bank governor
FT News Briefing
Forhecz Topher
4.4 • 1.2K Ratings
🗓️ 27 August 2025
⏱️ 11 minutes
🧾️ Download transcript
Summary
Investors are worried that Donald Trump’s attempted firing of a Federal Reserve governor could undermine faith in the world’s most important central bank, and FT sources say the US has said it is prepared to provide intelligence assets to any western security plan for postwar Ukraine. Plus, French assets were hit on Tuesday as investors reacted to the prospect of a government collapse as soon as next month.
Mentioned in this podcast:
US long-term debt sells off after Trump’s attempted firing of Fed governor
US offers air and intelligence support to postwar force in Ukraine
French assets hit by prospect of government collapse
Today’s FT News Briefing was produced by Sonja Hutson and Marc Filippino. Additional help from Kelly Garry, Gavin Kallmann. The FT’s acting co-head of audio is Topher Forhecz. The show’s theme music is by Metaphor Music.
Read a transcript of this episode on FT.com
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Transcript
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| 0:32.3 | Good morning from the Financial Times. |
| 0:34.2 | Today is Wednesday, August 27th, and this is your FT News briefing. |
| 0:38.8 | Yesterday was a bad day to be a bond, and the U.S. has offered a post-war plan for Ukraine. |
| 0:46.1 | Plus, U.S. President Donald Trump is making his strongest push yet against central bank |
| 0:51.3 | independence. I'm Mark Filipino, and here's the news you need to start your day. |
| 1:04.0 | You have heard us talk a lot about the independence of the Federal Reserve lately. |
| 1:08.7 | Donald Trump has been threatening to fire Jay Powell because the Fed |
| 1:12.0 | chair has refused to lower interest rates this year. But now Fed independence has hit its biggest |
| 1:17.8 | challenge yet. Trump said he was firing Fed Governor Lisa Cook late Monday night, and in response, |
| 1:24.1 | long-term U.S. Treasury sold off. Here with me to discuss what this means for the central bank, markets, and the U.S. economy is the FTs Claire Jones. |
| 1:32.5 | Hey, Claire. |
| 1:33.4 | Hi, Mark. |
| 1:34.8 | So, Claire, with the potential firing of Lisa Cook, our colleague, Chris Giles, wrote, quote, |
| 1:40.2 | there is every reason to fear for the survival of a key pillar of U.S. and global economic stability. |
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