Wall Street Breakfast Trump fires Cook, threatens more tariffs
Aug 26, 2025
President Trump controversially fires Fed Governor Lisa Cook, sparking discussions on market futures and Fed independence. The potential economic fallout of this decision raises eyebrows. Additionally, Trump threatens new tariffs, hinting at looming trade conflicts that could impact U.S. tech companies. The podcast also touches on collaborations in tech, like IBM and AMD’s partnership, alongside updates on Gilead’s groundbreaking HIV therapy and AT&T's massive spectrum deal.
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Fed Independence Under Pressure
- Trump's firing of Fed Governor Lisa Cook signals a direct challenge to Fed independence and shifts board dynamics.
- Analysts warn the move could increase chances of a more dovish majority and hurt investor confidence.
Market Reaction To Political Moves
- Experts called Trump's letter an unprecedented assault on Fed independence that investors will notice.
- Markets pulled back after a mixed session despite Friday's rally tied to Powell's Jackson Hole remarks.
Monitor Today's Economic Data
- Watch key economic releases today: July durable goods, Case-Shiller and FHFA home price indices, and August consumer confidence.
- Use these data points to reassess exposure to rates- and housing-sensitive positions before the open.