Bloomberg News Now
August 28, 2025: Lisa Cook Files Lawsuit, O'Neill Named Interim CDC Director, More
29 Aug 2025
Chapter 1: What is the main topic discussed in this episode?
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News when you want it with Bloomberg News Now. I'm Doug Krisner. Fed Governor Lisa Cook is suing President Trump over his attempt to fire her, given claims she lied on mortgage applications. On Thursday, Cook's lawyer said an unintentional clerical error may have been behind this discrepancy. Bloomberg Law host June Grasso says Cook does have standing to challenge the president.
What she says in the complaint is, and this is what we knew was going to happen, that the president needs cause to fire her. That really hasn't been defined in the Federal Reserve statutes, but she says he doesn't have cause. What happened here happened before alleged mortgage fraud, before she was even in office and that it doesn't constitute neglect, malfeasance or dereliction of duty.
You can hear more from June Grosso on the Bloomberg Intelligence podcast. Now, Cook is following through on a vow to fight to finish her term that expires in 2038. Today, she asked a judge to quickly issue an order blocking the effort to remove her while this case moves forward. A hearing is scheduled for 10 a.m. tomorrow. Health and Human Services Secretary Robert F. Kennedy Jr.
is calling for an overhaul of the Centers for Disease Control. Speaking today on Fox News, Kennedy said the agency isn't in step with President Trump's policies and it must be reshaped.
The agency is in trouble and we need to fix it and we are fixing it and it may be that some people should not be working there anymore.
HHS Secretary Kennedy speaking there to Fox News. Now, his remarks come one day after CDC Director Susan Monarez was ousted in a clash over vaccines. Three top CDC officials have also resigned in protest. Meantime, The Washington Post is reporting that Deputy Health Secretary Jim O'Neill will serve as acting CDC director.
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Chapter 2: What lawsuit is Fed Governor Lisa Cook filing against President Trump?
So the president is continuing to watch this intently and this killing, unfortunately, will continue as long as the war continues, which is why the president wants it to end. And that's why he's worked harder than anyone to end this war, which would have never started if he were president. But perhaps both sides of this war are not ready to end it themselves.
Press Secretary Caroline Leavitt there. Now, the White House had previously said it believed Putin agreed to a meeting with the Ukrainian president and it thought planning was underway. It was just Tuesday when Trump warned of an economic war if Russia and Ukraine did not end their conflict.
The European Union says it has followed through on its trade agreement with President Trump, adopting draft rules to eliminate tariffs on U.S. industrial goods. Now, this opens the door for the U.S. to cut tariffs on European autos and auto parts from the current 27.5% to 15%, and this would be backdated to August 1st.
European Commission President Ursula von der Leyen called the trade deal strong, if not perfect. However, EU officials say they may revisit the agreement if President Trump imposes new digital taxes or penalties. In NFL news, Micah Parsons is headed to the Green Bay Packers after a lengthy contract dispute with the Dallas Cowboys.
Parsons and the Packers have agreed on a record-setting four-year contract worth $188 million, and that includes $136 million guaranteed. And that is news when you want it with Bloomberg News Now. I'm Doug Krisner, and this is Bloomberg.
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