Bloomberg News Now August 26, 2025: SpaceX Starship Launch, Cook-Trump Legal Battle Heats Up, More
Aug 27, 2025
SpaceX recently achieved a significant milestone with the successful 10th test flight of its Starship rocket, showcasing impressive launch and landing capabilities. Meanwhile, political tensions escalate as President Trump makes controversial remarks regarding the Federal Reserve, particularly targeting Fed Chair Lisa Cook. This has sparked discussions about the Fed's independence amidst ongoing trade tensions and economic pressures. The complexities of corporate branding and public perception in times of crisis are also explored.
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Starship Reaches Milestone
- SpaceX completed the 10th Starship test flight and achieved a splashdown in the Indian Ocean about an hour after liftoff.
- Starship remains central to Elon Musk's ambition to reach Mars as the most powerful rocket ever built.
Trump Targets Fed Leadership
- President Trump said he is firing Fed chair Lisa Cook and is already looking for replacements to shape Fed policy toward lower rates.
- The Fed stated it will abide by any court ruling, raising concerns about political challenges to central bank independence.
Brainard Warns On Fed Independence
- Former Fed Vice Chair Lael Brainard warned the move threatens the Fed's institutional independence rather than targeting a single governor.
- She described the situation as an unprecedented attack on the Federal Reserve's independence.