Bloomberg Businessweek Trump Presses Fed’s Cook to Quit After Mortgage Fraud Allegation
Aug 20, 2025
Mike McKee, Bloomberg's International Economics Correspondent, dives deep into Trump's call for Federal Reserve Governor Lisa Cook's resignation amid mortgage fraud allegations. The discussion also touches on the Fed’s struggle with inflation and employment. Space reporter Lauren Grush shares insights on SpaceX's challenges with the Starship rocket and its ambitious goals for Mars. Todd Gillespie reviews Citigroup's leadership issues, highlighting toxic culture allegations, while David Haber from Andreessen Horowitz offers fresh perspectives on the evolving fintech landscape.
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Fed Minutes Signal Reluctance To Cut
- Fed minutes showed inflation risks outweighed employment risks and some members feared unanchoring inflation expectations.
- That supports the view the Fed may not cut rates soon unless employment weakens significantly.
Tariff Effects May Lag Then Push Prices
- Fed staff expect tariff pass-through to consumer prices to show up over several months, with inventories masking effects earlier.
- Mike McKee notes companies are beginning to raise prices as inventories run down.
Political Weaponization Of Investigations
- The Trump administration is using allegations to shape public opinion against Fed officials and other Democrats.
- Michael McKee says these moves aim to build skepticism so critics lose credibility when they oppose administration policy.
