Bloomberg Surveillance Bloomberg Surveillance TV: August 26th, 2025
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Aug 26, 2025 
Lael Brainard, former Fed Vice Chair, addresses the possible ouster of Fed governor Lisa Cook, and the implications for central bank independence. Torsten Slok, Chief Economist at Apollo, analyzes recent economic data and risks facing the US economy. Scott Lincicome of the Cato Institute discusses the ongoing legal battles between Cook and the Trump administration. These discussions reveal crucial insights into the complexities of Fed independence amidst political pressures, with potential consequences for monetary policy and market stability.
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Unprecedented Threat To Fed Independence
- The White House's move against Governor Cook is an unprecedented attack on Fed independence.
- Lael Brainard warns this undermines credibility, could raise inflation and long-term rates.
Insist On Due Process Before Removal
- The situation requires due process and a proper investigation before any removal.
- Lael Brainard urges letting facts be established and allowing legal defense.
Powell Signaled A Path To A September Cut
- Jay Powell signaled the balance of risks has shifted toward labor-market weakness.
- Brainard thinks a 25bp cut in September is more likely than not barring surprises.