Today is Tuesday, August 26.

We're talking about how President Trump opened a new fight for control over the Federal Reserve.

Also, why the president's new order over flag burning has sparked some rare criticism from his own party.

Plus, concerns from FEMA staffers, mail carriers are suspending American packages.

And it's already that time of year.

Pumpkin spice season has arrived.

Those stories and even more news coming up.

Welcome, welcome to The Newsworthy. All the day's news in around 10 minutes. Fast, fair, fun, and on the go.

I'm Erica Mandy. Thanks so much for being here. You're ready? Let's do this.

President Trump says he fired a Federal Reserve governor in a move that could threaten the independence of the central bank.

The thing is, though, Fed Governor Lisa Cook is refusing to leave her post. As we told you last week, Trump accused Cook a fraud, saying she claimed two homes as her primary residence in mortgage applications years before she joined the Fed. Lenders often give better terms

for loans on someone's primary home. So as one of Trump's advisors put it, quote,

how can this woman be in charge of interest rates if she's allegedly lying to help her own

interest rates? The Federal Reserve Act says a president can fire a Fed governor if there's cause.

But now the question is whether this really is cause.

Cook says it's not, and she's hired lawyers to fight on her behalf.

If Trump is successful in firing Cook,

it would be the second vacancy in less than a month since another Fed governor already

resigned. And it would give Trump another opportunity to shape the Fed, adding officials who

agree with him about cutting interest rates. Firing a Fed governor is unprecedented, though,

so it's hard to know exactly how this legal battle is going to play out or what it will mean

for the Fed in the meantime.

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