Odd Lots

Lev Menand on Trump's Attempt to Fire the Fed's Lisa Cook

26 Aug 2025

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Criticism and threats to Federal Reserve independence have been building for some time in this administration. But it was taken to a new height on August 25, when Trump posted that he intended to fire Fed Governor Lisa Cook, a Biden appointee. According to our guest, Columbia Law Professor Lev Menand, this is a big deal that has created an immediate crisis. The Trump administration's argument is that it's firing Lisa Cook "for cause" due to allegations (and these are just allegations at this point) that she committed mortgage fraud. As Lev argues, these allegations alone can't justify the removal of someone in this position. We talk through the legal implications, the immediate path ahead, and what may ultimately be Trump's real aim when it comes to pressuring the Fed. Read more:Trump Moves to Fire Fed’s Cook, Setting Up Historic Fight Powell Opens Door to Interest Rate Cut, Citing Labor Markets Only Bloomberg - Business News, Stock Markets, Finance, Breaking & World News subscribers can get the Odd Lots newsletter in their inbox each week, plus unlimited access to the site and app. Subscribe at bloomberg.com/subscriptions/oddlotsSee omnystudio.com/listener for privacy information.

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Odd Lots

Lev Menand on Trump's Attempt to Fire the Fed's Lisa Cook

This episode hasn't been transcribed yet

Other episodes from Odd Lots

How Lenovo's CFO Is Allocating Capital During One of History's Biggest Booms

Rory Johnston on Why His $200 Oil Prediction Didn't Turn Out Right

How the 1994 World Cup Transformed the Business of Football Forever

Grace Shao on What the World Should Know About Chinese AI

How Substack Creators Are Covering This Strange Markets Era

Anthropic's Co-Founder and Top Economist on Doing Research at the AI Frontier

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