Up First from NPR Fed Governor Fired, Trump Expands National Guard, Abrego Garcia Back in Custody
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Aug 26, 2025 In a twist of political drama, President Trump moves to dismiss a Federal Reserve governor, sparking debates over political influence in monetary policy. The podcast dives into the controversial cashless bail system and its effects on crime in D.C. It also highlights the case of Kilmar Abrego Garcia, who faces deportation amid complicated legal battles and discussions about immigration policies. The episode examines the balance of power between the presidency and federal agencies, making for an engaging analysis of current events.
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Threat To Fed Independence
- The White House move to remove Fed Governor Lisa Cook challenges the Fed's statutory insulation from political pressure.
- Economists warn that compromising Fed independence risks poor monetary outcomes and political meddling in interest-rate decisions.
Allegation That Sparked Removal Push
- Bill Pulte accused Lisa Cook of lying on two mortgage applications to gain better loan terms before she joined the Fed.
- Pulte told CNBC he thought that was "cause" to remove her, prompting the president's public statement against Cook.
Why The White House Pressure Matters
- The president's criticism of the Fed aligns with his repeated public pressure for lower interest rates.
- Surveys show most economists oppose presidential influence over rate-setting, underscoring broad concern about politicizing the Fed.