Trump Pushes the Fed Into Uncharted Territory

特朗普将美联储推入未知的领域

WSJ What’s News

2025-08-26

14 分钟
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A.M. Edition for Aug 26. President Trump says he’s removing Federal Reserve governor Lisa Cook, escalating his campaign against the central bank. The WSJ’s Alex Frangos helps us make sense of whether he actually has the authority to fire Cook, and what this means for the Fed’s independence. Plus, U.S.-China trade talks are set to resume this week. And WSJ correspondent Yaroslav Trofimov reports that Russia faces a fuel crunch, as Ukraine steps up its drone attacks on the country’s refineries. Azhar Sukri hosts. Sign up for the WSJ’s free What’s News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices
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  • you President Trump says he's removing Fed Governor Lisa Cook,

  • escalating his efforts to take charge of the central bank.

  • Plus,

  • Ukraine's intensifying attacks on Russian energy infrastructure seek to hit Moscow where it hurts the most.

  • So now Ukraine is trying to even out the field.

  • And the big difference is that Russia is dependent on its oil and gas revenue.

  • Ukraine is being assisted by the European Union and other partner nations.

  • And in an ever more competitive digital media landscape,

  • some publishers bet on good old-fashioned print.

  • It's Tuesday, August the 26th.

  • I'm Azhar Sukri for The Wall Street Journal.

  • Here is the AM edition of What's News,

  • the top headlines and business stories moving your world today.

  • We begin in Washington,

  • where President Trump has followed through on his threat to remove Federal Reserve Governor Lisa Cook.

  • He cited allegations that she submitted fraudulent information on mortgage applications back in 2021.

  • Yesterday, Trump wrote to Cook that, quote,

  • there is sufficient cause to remove you from your position.

  • Cook, a Biden appointee.

  • said the president had no authority to fire her and that she wouldn't resign.