Behind the Money Unhedged: The Fed under attack
5 snips
Aug 27, 2025 
Claire Jones, the US economics editor at the Financial Times, offers keen insights into the political tumult facing the Federal Reserve. She discusses the Jackson Hole symposium, which was marred by personal attacks on board member Lisa Cook, the first Black woman in her position. Claire highlights the implications of increasing political pressure on the Fed's independence and examines how an aggressive interest rate cut could stoke inflation fears. Amidst a backdrop of legal challenges and even a fire alarm, the conversation remains riveting.
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Direct Attack On The Fed
- Donald Trump publicly claimed he had fired Fed Governor Lisa Cook, escalating months of attacks on the Fed.
- The episode frames this as a serious threat to central bank independence with wide implications.
Who Is Lisa Cook
- Lisa Cook is one of seven governors on the Federal Reserve Board, appointed in 2022 after an academic career.
- She has generally aligned with Chair Jay Powell on Fed decisions since joining the board.
Allegations From A Fed Critic
- Bill Pulte posted allegations accusing Cook of mortgage fraud tied to two property purchases in 2021.
- Cook immediately denied wrongdoing and said she would gather paperwork to respond to sensible questions.
