Bloomberg Daybreak: US Edition Trump Moves to Fire Fed Governor Cook; Trump Latest Tariff Threat
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Aug 26, 2025 Katya Dmitrieva, a Bloomberg Economics reporter, shares insights on the clash between President Trump and Federal Reserve Governor Lisa Cook, who is facing allegations of document falsification. The podcast dives into Trump's threat to fire Cook, her firm stance against it, and the legal complexities involved. Dmitrieva also discusses Trump's new tariff threats against countries with digital services taxes and how these conflicts could impact the tech industry and international trade relations.
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White House-Fed Showdown Over Lisa Cook
- President Trump moved to oust Fed Governor Lisa Cook citing alleged mortgage document falsification, escalating a legal showdown with the Fed.
- Cook says he lacks authority to fire her and vows to remain while her lawyer seeks legal remedies.
Allegations Triggering The Move
- Allegations stem from Bill Pulte alleging Cook committed mortgage fraud based on residence claims when buying homes.
- No charges have been filed yet, but the accusation triggered the White House action.
Tariff Threat Over Digital Services Taxes
- Trump threatened new tariffs and export restrictions on countries with digital services taxes targeting U.S. tech and chips.
- Markets see added uncertainty but analysts expect negotiations rather than a permanent derail of the AI rally.