Bloomberg News Now August 28, 2025: Lisa Cook Files Lawsuit, O'Neill Named Interim CDC Director, More
Aug 29, 2025
Explore the intriguing legal battle as Fed Governor Lisa Cook files a lawsuit against President Trump, bringing mortgage fraud allegations to the forefront. Discover the push for CDC reform led by Robert F. Kennedy Jr. amid administrative strife. Get the latest on a cautious Federal Reserve stance regarding interest rates while navigating ongoing economic pressures. Plus, catch up on international developments, including the escalation of conflicts in Ukraine, all intertwined with exciting NFL announcements.
AI Snips
Chapters
Transcript
Episode notes
Fed Governor Sues Over Attempted Removal
- Lisa Cook filed a lawsuit after President Trump attempted to fire her from the Federal Reserve over alleged false mortgage statements.
- Her lawyer says a clerical error may explain the discrepancy and she seeks a court order to block her removal while she finishes her term through 2038.
Cause Requirement Is Central Legal Question
- The legal claim centers on whether the president needs cause under Federal Reserve statutes to remove a governor.
- Cook argues the alleged misconduct occurred before her service and doesn't meet neglect or malfeasance standards.
Calls To Reshape The CDC After Leadership Clash
- HHS Secretary Robert F. Kennedy Jr. called for overhauling the CDC, saying it must be reshaped to match presidential policy.
- His remarks followed the ouster of CDC Director Susan Menares and resignations by three top CDC officials over vaccine disputes.