Trump says he is firing Fed governor Lisa Cook in escalating attack on bank’s independence | First Thing

<p>Cook has said that Trump has no authority to remove her from the job over over allegations she committed mortgage fraud. Plus, a look at the AI-led agency advocating for ‘AI rights’</p><ul><li><p><a href="https://www.theguardian.com/info/2018/sep/17/guardian-us-morning-briefing-sign-up-to-stay-informed"><strong>Don’t already get First Thing in your inbox? Sign up here</strong></a></p></li></ul><p>Good morning.</p><p>Donald Trump has <a href="https://www.theguardian.com/business/2025/aug/25/trump-fires-federal-reserve-governor-lisa-cook">said he is firing the Federal Reserve governor</a>, Lisa Cook, over a claim that she committed mortgage fraud, as he intensified his attack on the central bank’s independence.</p><p><strong>Why does Trump want Cook out?</strong> It would allow him to replace her with someone who could offer him more control over Fed policy, as his demands for lower interest rates have been ignored so far.</p><p><strong>What else is the committee seeking?</strong> It has also issued deposition subpoenas to figures including Bill and Hillary Clinton, former FBI director James Comey and former attorneys general Loretta Lynch, Eric Holder, Merrick Garland, William Barr and Jeff Sessions.</p> <a href="https://www.theguardian.com/us-news/2025/aug/26/first-thing-trump-says-he-is-firing-fed-governor-lisa-cook-in-escalating-attack-on-banks-independence">Continue reading...</a>