What the Lisa Cook Decision Means for the Fed’s Independence

WSJ What’s News

The Wall Street Journal

Daily News, News

4.1 • 4.2K Ratings

🗓️ 29 June 2026

⏱️ 13 minutes

🔗️ Recording | Apple Podcasts | RSS

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Summary

P.M. Edition for June 29. The Supreme Court has ruled that President Trump can’t fire Fed governor Lisa Cook. Journal chief economics correspondent Nick Timiraos discusses how the decision gives Federal Reserve Chairman Kevin Warsh more room to operate independently of President Trump. Plus, Comcast is splitting its media and connectivity businesses. We hear from WSJ deputy media editor Jessica Toonkel about what’s behind the NBCUniversal spinoff and how it could lead to more M&A. And it’s been about 100 days since Josh D’Amaro took over as the CEO of Disney. WSJ entertainment reporter Ben Fritz walks us through how D’Amaro is reorganizing the company around streaming. Alex Ossola hosts. Sign up for the WSJ's free What's News newsletter.

Transcript

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0:00.0	When the world keeps shifting, we're there to help you act with confidence.
0:05.7	At HSBC, we bring together the people, ideas and capital that drive growth,
0:10.8	backing your ambitions at every stage.
0:13.2	So when you're preparing for the next generation, strengthening your portfolio,
0:17.2	or you're entering new markets, we're there, Bringing 160 years of experience to help you move forward.
0:24.1	HSBC, opening up a world of opportunity.
0:32.0	The Supreme Court says President Trump can't fire Fed Governor Lisa Cook, a crucial ruling
0:39.3	for the central bank's independence.
0:41.3	Kevin Warsh is Trump's own pick.
0:43.5	He became Fed Chair in May.
0:45.6	And this ruling actually helps him.
0:48.4	But a separate Supreme Court decision expands presidential authority to fire officials
0:52.5	at other government agencies.
0:56.3	And Comcast is breaking up.
1:02.7	Where we previously believed that scale and the diversification benefits warranted operating these businesses as one company, we've now simply changed our mind about that.
1:07.7	It's Monday, June 29th.
1:09.4	I'm Alex O'Souov for the Wall Street Journal.
1:11.8	This is the PM edition of What's News, the top headlines, and business stories that move the world today.
1:25.3	Today, the Supreme Court rejected President Trump's bid to fire Federal Reserve Governor
1:29.8	Lisa Cook, at least for now. Trump has wanted to fire her as part of his mission to
1:34.3	remake the Fed. Joining us now to discuss what the court's decision means for the central
1:38.4	bank's independence is WSJ Chief Economics correspondent Nick Timrose. Nick, let's go back for a
	...

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