Bloomberg Daybreak: Europe Edition Trump Says He's Firing Fed’s Cook, France Selloff, EU Tariff Struggles
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Aug 26, 2025 Charlotte Hughes-Morgan, a Bloomberg reporter based in Amsterdam, delves into a range of pressing business topics. She discusses Trump’s controversial move to oust Federal Reserve Governor Lisa Cook amid political pressure. The potential fallout from a confidence vote in France could destabilize the government and impact financial markets. Hughes-Morgan also highlights rising grocery prices in the UK due to weather-related issues and the struggles young job seekers face in an increasingly AI-dominated job market.
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Allegations Likely Fall Short For Dismissal
- President Trump claims he has cause to remove Fed Governor Lisa Cook over alleged mortgage misstatements.
- Legal experts and Bloomberg Intelligence say mere allegations likely fall short of the for-cause removal standard.
Tariff Threats Target Digital Taxes
- Trump threatened tariffs and export controls on countries imposing digital services taxes targeting US tech firms.
- Observers expect negotiations and deals rather than a lasting market-changing shift in the AI sector.
French Confidence Vote Sparks Market Selloff
- Prime Minister François Bayrou called a confidence vote for September 8 that could topple France's government.
- The announcement triggered a sell-off in French stocks and a rise in bond yields amid political uncertainty.