Trump said to eye the same trusted aide for another Fed board seat; Top U.S. political headlines for Tuesday, August 26.
Donald Trump signaled he has a successor in mind for the Federal Reserve governor he is pushing to oust, even as Lisa Cook vowed to take the administration to court over her potential removal.
During a marathon three-hour cabinet meeting on Tuesday, the U.S. president hinted he already has a preferred candidate in mind for the role, saying: "We have some very good people for that position. I think, maybe in my own mind, I have somebody that I like."
Trump noted he would seek input from Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick.
Trump is reportedly weighing appointing his economic adviser Stephen Miran to complete Lisa Cook’s term, which runs until 2038. Earlier this month, he tapped Miran for a far shorter stint—nominating him to fill the remaining five months of Adriana Kugler’s seat on the Fed board, a Biden appointee set to be replaced.
Cook has vowed to take legal action to retain her seat as a Federal Reserve governor, with her attorney Abbe Lowell labeling Trump’s attempt to remove her as "illegal."
Fed Governor Threatens Legal Action Against Trump Over Attempted Dismissal
Federal Reserve Governor Lisa Cook plans to take legal action against the Trump administration following its attempt to remove her, citing unproven allegations of mortgage fraud, her attorney confirmed.
On Monday night, Donald Trump announced he was dismissing Fed Governor Lisa Cook in a striking and unprecedented move, representing the latest intensification of the president’s challenge to the independence of the central bank.
Trump has "no authority" to remove her from the Federal Reserve’s board of governors, Cook’s attorney, Abbe Lowell, told reporters. “His attempt to fire her, based solely on a referral letter, lacks any factual or legal basis. We will be filing a lawsuit challenging this illegal action.” Lowell said.
Trump Demands Harvard Pay Up to $500 Million, Leaving No Room for Compromise
On Tuesday, Donald Trump declared that his administration is demanding “wants nothing less than $500m from Harvard,” setting the hefty sum as a precondition for reinstating billions in federal funding to the prestigious Ivy League institution.
"Don’t negotiate with them; they’ve been very bad," Trump reportedly instructed Education Secretary Linda McMahon during a cabinet meeting, underscoring his hardline stance.
Lawsuit Accuses Texas of Undermining Black Voters’ Political Influence
The NAACP has filed a lawsuit challenging Texas’s newly redrawn congressional maps, alleging that the state engaged in racial gerrymandering designed to diminish the political influence of Black voters.
Trump’s Legal Challenge Against Maryland Judges Over U.S. Deportations Dismissed by Court
On Tuesday, a federal judge dismissed a rare lawsuit brought by the Trump administration earlier this summer against all 15 judges of Maryland’s federal district court, challenging a temporary pause on certain deportations from the state.
In a detailed 37-page ruling, U.S. District Judge Thomas Cullen of Virginia’s Western District—who was nominated and confirmed during Donald Trump’s first term—stated that "any fair reading of the legal authorities cited by defendants leads to the ineluctable conclusion that this court has no alternative but to dismiss."
US Envoy Faces Backlash After Urging Lebanese Journalists to ‘Act Civilised’
Lebanese journalists are calling for a formal apology from a senior US envoy, who sparked outrage by telling them to "act civilized" and warning against being "animalistic".
