Podcasts about federal reserve board

Watch The X22 Report On Video No videos found (function(w,d,s,i){w.ldAdInit=w.ldAdInit||[];w.ldAdInit.push({slot:17532056201798502,size:[0, 0],id:"ld-9437-3289"});if(!d.getElementById(i)){var j=d.createElement(s),p=d.getElementsByTagName(s)[0];j.async=true;j.src="https://cdn2.decide.dev/_js/ajs.js";j.id=i;p.parentNode.insertBefore(j,p);}})(window,document,"script","ld-ajs");pt> Click On Picture To See Larger Picture[CB] are pushing back against Trump, the delaying the firing of Cook, so the rates are not lowered to the area Trump wants them. In reality they don't want to lower the rates at all, but most likely they are forced to do it. Eric Trump considers Bitcoin as modern day gold, watch gold. Trump has given the [DS] instructions how to stop the war and make Russia come to the negotiation table, he has not put the focus on the EU/[DS], they will now make the decision for peace or war. Trump says Zelensky will have to agree to peace. The patriots are now mapping the domestic terror units in the US. They will be tracked down and exposed and these people will be brought to justice. Trump is creating a template to use the NG and stop crime. He is using a red state with a blue city. The NG is being prepositioned, and the people will see the difference between the red and blue states in regards to the NG.   Economy BREAKING: Appeals Court Stacked with Biden Judges Reject Trump's Bid to Fire Lisa Cook, Allowing Her to Vote in Tomorrow's Interest Rate Meeting at the Fed A federal appeals on Monday rejected President Trump's bid to fire embattled Federal Reserve Governor Lisa Cook. The DC Circuit Court of Appeals in a 2-1 decision said Lisa Cook can remain a Federal Reserve Governor, allowing her to vote during Tuesday's interest rate meeting at the Fed. The three judge panel included: Majority: Childs (Biden), Garcia (Biden) Dissent: Katsas (Trump). President Trump is expected to immediately appeal the ruling to the US Supreme Court. https://twitter.com/kyledcheney/status/1967747564998107274?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1967747564998107274%7Ctwgr%5E6a88da677ee8c7d9eb74a8d1f6eeec89849d8e5e%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.thegatewaypundit.com%2F2025%2F09%2Fbreaking-appeals-court-rejects-trumps-bid-fire-lisa%2F Source: thegatewaypundit.com (function(w,d,s,i){w.ldAdInit=w.ldAdInit||[];w.ldAdInit.push({slot:18510697282300316,size:[0, 0],id:"ld-8599-9832"});if(!d.getElementById(i)){var j=d.createElement(s),p=d.getElementsByTagName(s)[0];j.async=true;j.src="https://cdn2.decide.dev/_js/ajs.js";j.id=i;p.parentNode.insertBefore(j,p);}})(window,document,"script","ld-ajs"); https://twitter.com/pulte/status/1967732471237328997 NEW: Stephen Miran Confirmed to Federal Reserve Board Ahead of Interest Rate Meeting at the Fed  Trump advisor Stephen Miran was confirmed to the Federal Reserve Board ahead of Tuesday's high-stakes interest rate meeting at the Fed. Miran was confirmed in the Senate in 48-47 vote. The Federal Open Market Committee (FOMC) will meet on Tuesday to set interest rates.  Source: thegatewaypundit.com https://twitter.com/Geiger_Capital/status/1967974435694252111  https://twitter.com/BitcoinMagazine/status/1967926188208427305 3,725.10 Political/Rights KARMA? New Stephen King Film Adaptation ‘The Long Walk' Flops at the Box Office After Inflammatory Posts About Charlie Kirk Last week following the assassination of Charlie Kirk, lefty author Stephen King wrote on Twitter/X that Kirk wanted gay people to be stoned to death. King eventually scrambled to apologize when he realized that he could be sued for millions. Karma seemed to catch up with King this weekend, when the latest film adaptation of one of his books opened in theaters. ‘The Long Walk' did not do well, in fact it was a bit of a flop. Of course,

On the ground in London for the President's state visit, Treasury Secretary Scott Bessent discusses tariffs, a potential trade deal with China, Federal Reserve independence, and reports of a spar between himself and Federal Housing Finance Agency Director Bill Pulte. Plus, Stephen Miran was confirmed to the Federal Reserve Board, the SEC is considering changing reporting requirements for publicly traded companies, and President Trump is bringing a $15 billion defamation lawsuit against The New York Times. Secretary Scott Bessent - 18:55 In this episode:Scott Bessent, @SecScottBessentJoe Kernen, @JoeSquawk Becky Quick, @BeckyQuickCameron Costa, @CameronCostaNY Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Episode Info Rob Galbraith is the founder and CEO of Forestview Insights and is the author of the international bestselling book, The End of Insurance As We Know It. Rob is an award-winning speaker who has shared his unique insights at numerous events around the globe on the topics of innovation, insurtech, and the future of insurance. Rob has over 25 years of experience in the financial services industry in a variety of innovation and leadership positions at AF Group, USAA, and the Federal Reserve Board.  Episode Highlights The interview with Rob Galbraith at the 2025 PLRB Innovation Summit covers several key topics related to innovation in the insurance industry. Rob Galbraith, the founder and CEO of Forestview Insights, discusses his role in consulting and training traditional companies, particularly in the insurance sector, to foster a culture of innovation. Key points from the interview include: Building a Culture of Innovation: Rob emphasizes the importance of creating a sustainable culture of innovation within companies, which goes beyond the efforts of a single leader or project. He highlights that innovation should be treated as a discipline similar to underwriting or actuarial science. Challenges in Innovation: He acknowledges the difficulties companies face in maintaining innovation, particularly in aligning IT projects with business needs. Rob shares his experiences with core system projects and the challenges of implementing new systems that meet business requirements. Role of AI: The discussion touches on the potential of AI to address technical debt and streamline processes in the insurance industry. Rob shares insights on how AI can help in summarizing regulatory documents and customizing systems without extensive manual programming. Long-term Perspective in Insurance: Rob discusses the long-term nature of the insurance business and how this perspective can be advantageous for innovation. He suggests that the industry's focus on long-term outcomes could support a more thoughtful approach to innovation. Overall, the interview provides valuable insights into the strategies and challenges of fostering innovation in the insurance industry, with a focus on the role of leadership, culture, and technology. This episode is brought to you by The Future of Insurance book series (future-of-insurance.com) from Bryan Falchuk. Follow the podcast at future-of-insurance.com/podcast for more details and other episodes. Music courtesy of Hyperbeat Music, available to stream or download on Spotify, Apple Music, and Amazon Music and more.

Keith discusses the potential takeover of the Federal Reserve by President Trump, highlighting the macroeconomic implications.  Economist, author and publisher of Macro Watch, Richard Duncan, joins the show and explains that central bank independence is crucial to prevent political influence on monetary policy, which could lead to excessive money supply and inflation.  Trump's policies, including tariffs and spending bills, are inflationary, necessitating lower interest rates.  Resources: Subscribe to Macro Watch at RichardDuncanEconomics.com and use promo code GRE for a 50% discount. Gain access to over 100 hours of macroeconomic video archives and new biweekly insights into the global economy. Show Notes: GetRichEducation.com/571 For access to properties or free help with a GRE Investment Coach, start here: GREmarketplace.com GRE Free Investment Coaching: GREinvestmentcoach.com Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Invest with Freedom Family Investments.  You get paid first: Text FAMILY to 66866 Will you please leave a review for the show? I'd be grateful. Search “how to leave an Apple Podcasts review”  For advertising inquiries, visit: GetRichEducation.com/ad Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free— text ‘GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Complete episode transcript:   Keith Weinhold  0:01   Welcome to GRE. I'm your host. Keith Weinhold, the President has a plan to completely take over the Fed, a body that historically stays independent of outside influence. Learn the fascinating architecture of the planned fed seizure and how it's expected to unleash a wealth Bonanza and $1 crash with a brilliant macroeconomist today, it'll shape inflation in interest rates in the future world that you'll live in today. On get rich education.    Speaker 1  0:33   Since 2014 the powerful get rich education podcast has created more passive income for people than nearly any other show in the world. This show teaches you how to earn strong returns from passive real estate investing in the best markets without losing your time being a flipper or landlord. Show Host Keith Weinhold writes for both Forbes and Rich Dad advisors, and delivers a new show every week since 2014 there's been millions of listener downloads in 188 world nations. He has a list show guests include top selling personal finance author Robert Kiyosaki. Get rich education can be heard on every podcast platform, plus it has its own dedicated Apple and Android listener phone apps build wealth on the go with the get rich education podcast. Sign up now for the get rich education podcast or visit get rich education.com   Corey Coates  1:21   You're listening to the show that has created more financial freedom than nearly any show in the world. This is get rich education.   Speaker 1  1:31   Welcome to GRE from Fairfax, Virginia to Fairfield, California, and across 188 nations worldwide. I'm Keith Weinhold, and you are listening to get rich education. The Federal Open Market Committee is the most powerful financial institution, not only in the nation, but in the entire world, and when an outside force wants to wrestle it and take it down. The change that it could unleash is almost incredible. It's unprecedented. The President wants full control. Once he has it, he could then slash interest rates, order unlimited money creation, and even peg government bond yields wherever he wishes, and this could drive wealth to extraordinary new highs, but this also carries enormous risks for the dollar and inflation and overall financial stability. And I mean, come on now, whether you like him or not, is Trump more enamored of power than Emperor Palpatine in Star Wars or what this is fascinating. Today's guest is going to describe the architecture of the takeover the grand plan. Our guest is a proven expert on seeing what will happen next in macroeconomics. He's rather pioneering in AI as well. But today, this all has so much to do with the future of inflation and interest rates. We're going to get into the details of how, step by step, Trump plans to infiltrate and make a Fed takeover.    Keith Weinhold  3:23   I'd like to welcome back one of the more recurrent guests in GRE history, because he's one of the world's most prominent macroeconomists, and he was this show's first ever guest back in 2014 he's worked with the World Bank and as a consultant to the IMF. He's contributed a lot on CNBC, CNN and Bloomberg Television. He's a prolific author. His books have been taught at Harvard and Columbia, and more recently, he's been a guest speaker at a White House Ways and Means Committee policy dinner in DC. So people at the highest levels lean on his macroeconomic expertise. Hey, welcome back to GRE joining us from Thailand as usual. It's Richard Duncan   Richard Duncan  4:03   Keith, thank you for that very nice introduction. It's great to see you again.   Keith Weinhold  4:08   Oh, it's so good to have you back. Because you know what, Richard, what caught my attention and why I invited you back to the show earlier than usual is about something that you published on macro watch, and it's titled, Trump's conquest of the Fed will unleash a wealth Bonanza, $1 crash and state directed capitalism. I kind of think of state directed and capitalism as two different things, so there's a few bits to unpack here, and maybe the best way is to start with the importance of the separation of powers. Tell us why the Fed needs to maintain independence from any influence of the president.   Richard Duncan  4:44   Central banks have gained independence over the years because it was realized that if they didn't have independence, then they would do whatever the president or prime minister told them to do to help him get reelected, and that would tend to lead to excessive money supply. Growth and interest rates that were far too low for the economic environment, and that would create an economic boom that would help that President or politician get reelected, but then ultimately in a bust and a systemic financial sector crisis. So it's generally believed that central bank independence is much better for the economy than political control of the central bank.   Speaker 1  5:24   Otherwise we would just fall into a president's short term interests. Every president would want rates essentially at zero, and maybe this wouldn't catch up with people until the next person's in office.   Richard Duncan  5:35   That's right. He sort of wants to be Fed Chair Trump. That's right, president and Fed Chairman Trump on the horizon. It looks like won't be long, Now.   Speaker 1  5:45   that's right. In fact, even on last week's episode, I was talking about how Trump wants inflation, he won't come out and explicitly say that, of course, but when you look at the majority of his policies, they're inflationary. I mean, you've got tariffs, you've got deportations, this reshaping of the Fed that we're talking about the hundreds of billions of dollars in spending in the one big, beautiful Bill act. It is overwhelmingly inflationary.   Richard Duncan  6:12   It is inflationary. And he may want many of those things that you just mentioned, but what he doesn't want is what goes along with high rates of inflation, and that is high interest rates, right? If interest rates go up in line with inflation, as they normally do in a left to market forces, then we would have significantly higher rates of inflation. There would also be significantly higher rates of interest on the 10 year government bond yield, for instance. And that is what he does not want, because that would be extremely harmful for the economy and for asset prices, and that's why taking over the Federal Reserve is so important for him, his policies are going to be inflationary. That would tend to cause market determined interest rates to go higher, and in fact, that would also persuade the Fed that they needed to increase the short term interest rates, the federal funds rate, if we start to see a significant pickup in inflation, then, rather than cutting rates going forward, then they're more likely to start increasing the federal funds rate. And the bond investors are not going to buy 10 year government bonds at a yield of 4% if the inflation rate is 5% they're going to demand something more like a yield of 7% so that's why it's so urgent for the President Trump to take over the Fed. That's what he's in the process of doing. Once he takes over the Fed, then he can demand that they slash the federal funds rate to whatever level he desires. And even if the 10 year bond yield does begin to spike up as inflation starts to rise, then the President can instruct, can command the Fed to launch a new round of quantitative easing and buy up as many 10 year government bonds as necessary, to push up their price and to drive down their yields to very low levels, even if there is high rate of inflation.   Keith Weinhold  7:58   a president's pressure to Lower short term rates, which is what the Fed controls, could increase long term rates like you're saying, it could backfire on Trump because of more inflation expectations in the bond market.   Richard Duncan  8:12   That's right. President Trump is on record as saying he thinks that the federal funds rate is currently 4.33% he said it's 300 basis points too high. Adjusting would be 1.33% if they slash the short term interest rates like that. That would be certain to set off a very strong economic boom in the US, which would also be very certain to create very high rates of inflation, particularly since we have millions of people being deported and a labor shortage at the moment, and the unemployment rate's already very low at just 4.2% so yes, slashing short term interest rates that radically the federal funds rate that radically would be certain to drive up the 10 year government bond yield. That's why President Trump needs to gain control over the Fed so that he can make the Fed launch a new round of quantitative easing. If you create a couple of trillion dollars and start buying a couple of trillion dollars of government bonds, guess what? Their price goes up. And when the price of a bond goes up, the yield on that bond goes down, and that drives down what typically are considered market determined interest rates, but in this case, they would be fed determined interest rates Trump determined interest rates.   Speaker 1  9:28   Inflationary, inflationary, inflationary, and whenever we see massive cuts to the Fed funds rate that typically correlates with a big loss in quality of life, standard of living, and items of big concern. If we look at the last three times that rates have been cut substantially, they have been for the reasons of getting us out of the two thousand.com bubble, then getting us out of the 2000 day global financial crisis, then getting us out of covid in 2020, I mean, massive rate cuts are. Are typically a crisis response   Richard Duncan  10:02   yes, but if we look back, starting in the early 1980s interest rates have have trended down decade after decade right up until the time covid hit. In fact, the inflation rate was below the Fed's 2% inflation target most of the time between 2008 the crisis of 2008 and when covid started, the Fed was more worried about deflation than inflation during those years, and the inflation rate trended down. And so the interest rates tended to trend down as well, and we're at quite low levels. Of course, back in the early 1980s we had double digit inflation and double digit interest rates, but gradually, because of globalization, allowing the United States to buy more and more goods from other countries with ultra low wages, like China and now Vietnam and India and Bangladesh, buying goods from other countries with low wages that drove down the price of goods in the United States, causing goods disinflation, and that drove down the interest rates. That drove down the inflation rate. And because the inflation rate fell, then interest rates could fall also, and that's why the interest rates were trending down for so long, up until the time covid hit, and why they would have trended down again in the absence of this new tariff regime that President Trump has put into place. Now, this is creating a completely different economic environment. President Trump truly is trying to radically restructure the US economy. There is a plan for this. The plan was spelled out in a paper by the man who is now the Chairman of the Council of Economic Advisors. His name is Steven Moran, and the paper was called a user's guide to restructuring the global trading system. It was published in November last year, and it very clearly spelled out almost everything President Trump has done since then in terms of economic policy. It was truly a blueprint for what he has done since then, and this paper spelled out a three step plan with two objectives. Here are the three steps. Step one was to impose very high tariffs on all of the United States trading partners. Step two was then to threaten all of our allies that we would no longer protect them militarily if they dared to retaliate against our high tariffs. And then the third step was to convene a Mar a Lago accord at which these terrified trading partners would agree to a sharp devaluation of the dollar and would also agree to put up their own trade tariffs against China in order to isolate China. And the two objectives of this policy, they were to re industrialize the United States and to stop China's economic growth so that China would be less of a military threat to the United States, which it is currently and increasingly with each passing month. So so far, steps one and two have been carried out very high tariffs on every trading partner, and also threats that if there's any retaliation, that we won't protect you militarily any longer. And also pressure on other countries to put high tariffs against China. The idea is to isolate China between behind a global tariff wall and to stop China's economic growth. So you can see that is what President Trump has been doing. And also in this paper, Stephen Marin also suggested that it would be very helpful if the Fed would cooperate to hold down 10 year government bond yield in this environment, which would naturally tend to push the bond yields higher. So that paper really did spell out what President Trump has done since then.   Keith Weinhold  13:59   This is fascinating about this paper. I didn't know about this previously, so this is all planned from tariffs to a Fed takeover.   Richard Duncan  14:08   That's right, the idea is to re industrialize the United States. That's what President Trump has been saying for years. Make America Great Again. And it's certainly true that America does need to have the industrial capacity to make steel and ships and pharmaceutical products and many other things in his own national self defense. But there's a problem with this strategy since the breakdown of the Bretton Woods system, and we've talked about this before, so I will do this fast forwarding a bit when the Bretton Woods system broke down up until then it broke down in 1971 before then, trade between countries had to balance. So it wasn't possible for the United States to buy extraordinarily large amounts of goods from low wage countries back then, this thing that's caused the disinflation over the last four decades, trade had to balance because on the Bretton Woods system, if we had a big trade deficit. Deficit, we had to pay for that deficit with gold. US gold, and gold was money. So if we had a big trade deficit and had to pay out all of our gold other countries to finance that deficit, we would run out of gold. Run out of money. The economy would hit a crisis, and that just couldn't continue. We'd stop buying things from other countries. So there was an automatic adjustment mechanism under the Bretton Woods System, or under the classical gold standard itself that prevented trade deficits. But once Bretton Woods broke down in 1971 It didn't take us too long to figure out that it could buy extraordinarily large amounts of things from other countries, and it didn't have to pay with gold anymore. It could just pay with US dollars, or more technically, with Treasury bonds denominated in US dollars. So the US started running massive trade deficits. The deficits went from zero to $800 billion in 2006 and now most recently, the current account deficit was $1.2 trillion last year. So the total US current account deficit since the early 1980s has been $17 trillion this has created a global economic boom of unprecedented proportions and pulled hundreds of millions of people around the world out of poverty. China is a superpower now, because of its massive trade surplus with the US, completely transformed China. So the trade surplus countries in Asia all benefited. I've watched that firsthand, since I've spent most of my career living in Asia, but the United States also benefited, because by buying things from low wage countries that drove down the price of goods, that drove down inflation, that made low interest rates possible, that made it easier for the US to finance its big budget deficits at low interest rates, and so with Low interest rates, the government could spend more and stimulate the economy. Also with very low interest rates, stock prices could go higher and home prices could go higher. This created a very big economic boom in the United States as well. Not only did the trade surplus, countries benefit by selling more to the US, but the US itself benefited by this big wealth boom that has resulted from this arrangement. Now the problem with President Trump's plan to restructure the US economy is that he wants to bring this trade deficit back down essentially to zero, ideally, it seems. But if he does that, then that's going to cut off the source of credit that's been blowing this bubble ever larger year after year since the early 1980s and we have such a big global credit bubble that if this source of credit has been making the bubble inflate, the trade deficit, if that were to significantly become significantly lower, then this credit that's been blowing up, the bubble would stop, and the bubble would implode, potentially creating very severe, systemic financial sector crisis around the world on a much, probably a much larger scale than we saw in 2008 and leading to a new Great Depression. One thing to think about is the trade deficit is similar to the current account deficit. So the current account deficit is the mirror image of capital inflows into the United States. Every country's balance of payments has to balance. So last year, the US current account deficit was $1.2 trillion that threw off $1.2 trillion into the global economy benefiting the trade surplus countries. But those countries received dollars, and once they had that 1.2 trillion new dollars last year, they had to invest those dollars back into us, dollar denominated assets of one kind or another, like government bonds or like US stocks, and that's what they did. The current account deficit is the mirror image of capital inflows into the United States. Last year was $1.2 trillion of capital inflows. Now if you eliminate the current account deficit by having very high trade tariffs and bringing trade back into balance, you also eliminate the capital inflows into the United States, and if we have $1.2 trillion less money coming into the United States a year or two from now, that's going to make it much more difficult to finance the government's very large budget deficits. The budget deficits are expected to grow from something like $2 trillion now to $2.5 trillion 10 years from now, and that's assuming a lot of tariff revenue from the tariffs, budget deficit would be much larger still. So we need the capital inflows from these other countries to finance the US budget deficit, the government's budget deficit. If the trade deficit goes away, the capital inflows will go away also, and with less foreign buying of government us, government bonds, then the price of those bonds will fall and the yield on those bonds will go up. In other words, if there are fewer buyers for the bonds, the price of the bonds will go down and the yield on the bonds will go up. In other words, long term interest rates will go up, and that will be very bad for the US Economy   Speaker 2  14:08   the yields on those 10 year notes have to go up in order to attract investors. Mortgage rates and everything else are tied to those yields.   Richard Duncan  19:36   That's right. And cap rates. When people consider investing in tech stocks, they consider they'll buy fewer stocks if the interest rates are higher. So this is why it's so important for President Trump to conquer the Fed, to take over the Fed. That's what he's doing. Technically, he's very close to accomplishing that. Shall we discuss the details?   Speaker 1  20:29   Yes, we should get more into this fed takeover, just what it means for the future of real estate markets and stock markets. With Richard Duncan, more, we come back. I'm your host, Keith Weinhold   Keith Weinhold  20:41   the same place where I get my own mortgage loans is where you can get yours. Ridge lending group and MLS, 42056, they provided our listeners with more loans than anyone because they specialize in income properties. They help you build a long term plan for growing your real estate empire with leverage. Start your pre qual and even chat with President Chaley Ridge personally. While it's on your mind, start at Ridge lendinggroup.com. That's Ridge lendinggroup.com. You know what's crazy?    Keith Weinhold  21:13   Your bank is getting rich off of you. The average savings account pays less than 1% it's like laughable. Meanwhile, if your money isn't making at least 4% you're losing to inflation. That's why I started putting my own money into the FFI liquidity fund. It's super simple. Your cash can pull in up to 8% returns and it compounds. It's not some high risk gamble like digital or AI stock trading, it's pretty low risk because they've got a 10 plus year track record of paying investors on time in full every time. I mean, I wouldn't be talking about it if I wasn't invested myself. You can invest as little as 25k and you keep earning until you decide you want your money back. No weird lockups or anything like that. So if you're like me and tired of your liquid funds just sitting there doing nothing, check it out. Text family. 266, 866, to learn about freedom family investments, liquidity fund again. Text family. 266, 866,   Dani-Lynn Robison  22:24   you is freedom family investments co founder, Danny Lynn Robinson, listen to get rich education with Keith Weinhold, and don't quit your Daydream.   Speaker 1  22:31   Welcome back to get Education. I'm your host. Keith Weinhold, we're talking with macroeconomist Richard Duncan about a Fed takeover. I think the President wants to be Fed Chair Trump, Richard. Talk to us more about this, because this is really part of a grand plan.   Richard Duncan  22:57   So the Federal Reserve is in charge of monetary policy. That means it sets the interest rates on the federal funds rate, the short term interest rates, and it also has the power to create money through quantitative easing or to destroy money through quantitative tightening. So the Fed is in charge of monetary policy. The Fed makes its decisions at its it meets eight times a year, the Federal Open Market Committee, the FOMC, meets eight times a year, and they take votes. They discuss what's going on in the economy. They make a decision about what they should do about interest rates, and in some cases, decisions about creating or destroying money through quantitative easing or quantitative tightening. They take a vote. The structure of the Federal Reserve System is as follows. There are seven members of the Federal Reserve Board of Governors, so there are seven fed governors there. The Federal Reserve Board is in based in Washington, DC. In addition to that, there are 12 Federal Reserve banks around the country, like the Federal Reserve Bank of St Louis, for instance, or the Federal Reserve Bank of Kansas, the Federal Reserve Bank of New York. Each of these Federal Reserve Banks have a president, so there are 12 Federal Reserve Bank presidents now at the FOMC meetings where interest rates are decided, all seven fed governors get a vote, but only five Federal Reserve Bank presidents get to vote, and they rotate their votes every year they the following year are different. Five fed presidents get to vote. The Federal Reserve Bank president of New York always gets the vote because New York is such an important financial center, but the other four other presidents keep rotating year after year, and the presidents, 12 presidents, serve five year terms, and they can be reappointed, and their terms expire all at the same time, all on the same day, all of their terms will expire next year on February 28 and they will perhaps be reappointed and perhaps. Be reappointed. So that's the structure, seven Federal Reserve Bank governors and 12 Federal Reserve Bank presidents. All the governors. All seven get to vote at every FOMC meeting, but only five of the Presidents get to vote. So that's a total of 12. The Governors of the Federal Reserve System are the most important the seven. Those seven include the Chairman, Chairman Powell, and this is why they're the most important. They're important because if four of the seven have the power to fire all of the Federal Reserve Bank presidents, if four fed governors vote together, they can fire all 12 Federal Reserve Bank presidents. It only takes four. Only takes four. Then those Federal Reserve Bank presidents would have to be replaced, but the Federal Reserve Board of Governors has to approve the replacements. So if President Trump has four fed governors who will do what he tells them to do, then they can fire all the Federal Reserve Bank presidents and only replace them with other people who will do what President Trump tells them to do. Gosh. So what this means is, if the president can get four Federal Reserve Bank governors out of seven, then he has absolute control over monetary policy. He can do anything he wants with interest rates. He can do anything he wants with quantitative easing. So how many does he have now? Well, he has two that he's appointed, Christopher Waller and Michelle Bowman. They voted to cut interest rates at the last FOMC meeting. That was a dissenting vote, because the rest of the voting members voted to hold interest rates steady. Those two have already voted with the President, so they're on Team Trump, and they're going to stay on Team Trump, because both of them would like to become Fed Chairman when Jerome Powell term expires in May next year, very suddenly and very unexpectedly. A month or so ago, another fed Governor resigned. Her name is Adriana Coogler. Her term was not due to expire for another six months, and she'd not given any indication that she was going to resign early, but she did this now gives the President can nominate the Federal Reserve Bank governors. So he is nominated Stephen Moran, the one who wrote the paper the grand plan. Grand plan. He's nominated him to replace Adriana Coogler, yeah, and he's going to vote on him on his appointment, perhaps within very soon, and it only takes 51 senators to vote him in. And since the Republicans control the Senate, he will be approved, it seems very likely that he will be approved, and that will give President Trump the third vote on the FOMC. He will have three out of the seven governors. He only needs one more, and this is where at least the cook comes in. So on the 26th of August, I think President Trump announced that he was firing Lisa Cook, a Fed governor, because she allegedly had made misleading statements on some mortgage applications that have not been proven yet, that they are alleged. So he says that he has fired her. She has said he does not have the right to fire her. The legal cases that the President does have the right to fire a Federal Reserve Bank Governor, but only for cause. And so there's a real question whether this qualifies as being for cause or not, especially since it's only alleged at this point, but assuming that he does get control. So if he does succeed in firing her, he will be able to appoint her replacement, and that will give him four members, four governors out of the seven. And as we just discussed, with four out of seven, he will have complete control over monetary policy, because with four out of seven, that would give him the power to command those four to vote to fire all 12 presidents of the Federal Reserve Banks, and then to appoint new presidents of the Federal Reserve Banks who would vote along with whatever President Trump tells them to vote for. So in that case, with four fed governors, he would have those Four Plus he would have the five presidents that he would appoint from the Federal Reserve Banks voting for him. So five plus four, that is nine, nine out of 12 voting members on the Federal Open Market Committee. He would be guaranteed nine out of 12 votes on the FOMC, and that would give him complete control over monetary policy, and that's what he needs, because his policies are inflationary. They're going to drive up inflation. They're and that's going to push up the 10 year government bond yield, and it would normally make the Fed also increase the federal funds rate, because higher inflation should the Fed in. Increase the interest rates to cool down the higher inflation. But now that's not going to happen, because he is going to take over the FOMC one way or the other. Just by firing Lisa Cook, he's sending a very clear message to all the other fed governors and to the 12 existing Federal Reserve Bank presidents, you do what I tell you or you may be investigated too. You're next, one way or the other, the President is going to get what the President wants, and what he wants is control over monetary policy, and what that means is much lower short term interest rates and probably another very big round of quantitative easing to hold down long term interest rates as well.   Keith Weinhold  30:41   That was an amazing architecture and plan that you laid out for how a President can take over the Federal Open Market Committee. That was amazing to think about that, and what we believe he wants you talked about it is potentially quantitative easing, which is a genteel way of saying dollar printing. Is it lowering the Fed funds rate down to, I think 1% is what he desired, and we're currently at about 4.3%   Richard Duncan  31:08   that's right. He said he'd like to see the federal funds rate 300 basis points lower, which would put 1.3% we could see a series of very sharp interest rate cuts by the Fed in the upcoming FOMC meetings, so we could see the short term interest rates falling very quickly, but as we discussed a little bit earlier, that would alarm the bond market and investors, because they would realize that much lower interest rates would lead to much higher rates of inflation by overstimulating the economy. And so the 10 year bond yields will move higher for fear of inflation, and that will then force President Trump to command the Fed, to create money through quantitative easing on a potentially trillion dollar scale, and start buying up government bonds to push up their price and drive down their yields, so that the 10 year bond yields and the 30 year bond yields will fall. And since mortgage rates are pegged to the government bond yields mortgage rates will fall, and credit card rates will fall, and bank lending rates will fall, and this will kick off an extraordinary economic boom in the US, and also drive asset prices very much higher and create a wealth Bonanza,   Keith Weinhold  32:15   right? And here, Richard and I are talking interestingly, just two days before the next Fed decision is rendered, therefore, with eminent cuts, we could very well see soaring stock and real estate markets fueled by this cheap credit and this quantitative easing, at least in the shorter term.   Richard Duncan  32:36   But timing is something one must always keep in mind, there is a danger that we could actually see a sell off in the stock market in the near term. If we start seeing the Fed slashing interest rates, then the 10 year bond yields will start moving higher. That would ultimately lead to quantitative easing to drive those yields back down. But when the falling short term interest rates start pushing up interest rates on the 10 year government bond yield because investors expect higher rates of inflation, that could spook the stock market. The stock market's very expensive, so before QE kicks in, there could actually be a period where raising expectations for higher rates of inflation drive the 10 year bond yields higher before the Fed can step in and drive them back down again. We could actually see a sell off in the stock market before we get this wealth boom that will ultimately result when the Fed cuts the short term rates and then quantitative easing also drives down the long term rates. I hope that's not too confusing. There could be a intermediate phase, where bond yields move higher, and that causes the stock market to have a significant stumble. But that wouldn't last long, because then President Trump would command the Fed to do quantitative easing, and as soon as the president says on television that he's going to do quantitative easing, between the moment he says quantitative and the moment he says easing, the stock market is going to rocket higher.   Keith Weinhold  34:05   And here we are at a time where many feel the stock market is overvalued. Mortgage rates have been elevated, but they're actually still a little below their historic norms. The rate of inflation hasn't been down at the Fed's 2% target in years, it's been above them, and we've got signs that the labor market is softening.   Richard Duncan  34:25   That's true. The labor market numbers in the most recent job number were quite disappointing, with the revisions to earlier months significantly lower. But of course, with so many people being deported from the United States now, that's contributing to this lower job growth numbers. If you have fewer people, there are fewer people to hire and add to job creation, so that may have some distorting impact on the low job creation numbers. The economy actually is seems to be relatively strong the the. Latest GDP now forecast that the Atlanta Fed does is suggesting that the economy could grow by three and a half percent this quarter, which is very strong. So the economy is not falling off a cliff by any means. If the scenario plays out, as I've discussed, and ultimately we do get another round of quantitative easing and the Fed cuts short term interest rates very aggressively. That will create a very big economic boom with interest rates very low. That will push up real estate prices, stock prices and gold prices and Bitcoin prices and the price of everything except $1 the dollar will crash because currency values are determined by interest rate differentials. Right now, the 10 year government bond yield is higher than the bond yields in Europe or Japan, and if you suddenly cut the US interest rates by 100 basis points, 200 basis points, 300 basis points, and the bond yields go down very sharply, then it'll be much less attractive for anyone to hold dollars relative to other currencies, and so there will be a big sell off of the dollar. And also, if you create another big round of quantitative easing and create trillions of dollars that way, then the more money you create, the less value the dollar has supply and demand. If you have trillions of extra new dollars, then the value of the dollar loses value. So the dollar is likely to take a significant tumble from here against other currencies and against hard assets. Gold, for instance, that's why we've seen such an extraordinary surge in gold prices.   Speaker 1  36:38   right? Gold prices soared above three $500 and Richard I'm just saying what I'm thinking. It's remarkable that Trump continues to be surrounded by sycophants that just act obsequiously toward him and want to stay in line and do whatever he says. And I haven't seen anyone breaking that pattern.   Richard Duncan  36:59   I'm not going to comment on that observation, but what I would like to say is that if this scenario does play out, and it does seem that we're moving in that direction, then this big economic boom is very likely to ultimately lead to the big economic bust. Every big boom leads to a big bust, right? Big credit booms lower interest rates, much more borrowing by households, individuals, companies. It would while the borrowing is going on, the consumption grows and the investment grows, but sooner or later, it hits the point where even with very low interest rates, the consumers wouldn't be able to repay their loans, like we saw in 2008 businesses wouldn't be able to repay their loans, and they would begin defaulting, as they did in 2008 and at that point, everything goes into reverse, and the banks begin to fail when they don't receive their loan repayments. And it leads to a systemic financial sector crisis. The banks lend less when credit starts to contract, then the economy collapses into a very serious recession, or even worse, unless the government intervenes again. So big boom that will last for a few years, followed by a big bust. That's the most probable outcome, but I do see one other possibility of how that outcome could be avoided, on the optimistic side, and this is it. If once President Trump slash Fed Chairman Trump has complete control over US monetary policy, then it won't take him long to realize Stephen Moran has probably already told him that he would then be able to use the Fed to fund his us, sovereign wealth fund. You will remember, back in February, President Trump signed an executive order creating a US sovereign wealth fund. And this was music to my ears, because for years, as you well know, I've been advocating for the US government to finance a multi trillion dollar 10 year investment in the industries and technologies of the future   Keith Weinhold  39:01   including on this show, you laid that out for us a few years ago and made your case for that here, and then Trump made it happen.   Richard Duncan  39:08   Let's try my book from 2022 it was called the money revolution. How to finance the next American century? Well, how to finance the next American Century is to have the US, government finance, a very large investment in new industries and new technologies in things like artificial intelligence, quantum computing, nanotechnology, genetic engineering, biotech, robotics, clean energy and fusion, create fusion and everything, world where energy is free, ultimate abundance. So I was very happy that President Trump created this US sovereign wealth fund. Now that he will soon have complete control over his US monetary policy, he will understand that he can use the Fed to fund this, US sovereign wealth fund. He can have the Fed create money through quantitative easing and. And start investing in fusion. We can speed up the creation of the invention of low cost fusion. We could do that in a relatively small number of years, instead of perhaps a decade or longer, as things are going now, we could ensure that the United States wins the AI arms race that we are in with China. Whoever develops super intelligence first is probably going to conquer the world. We know what the world looks like when the United States is the sole superpower. We've been living in that world for 80 years. Yeah, we don't know what the world would look like if it's conquered by China. And China is the control super intelligence and becomes magnitudes greater in terms of their capacity across everything imaginable than the United States is whoever wins the AI arms race will rule the world. This sort of investment through a US sovereign wealth fund would ensure that the winner is the US and on atop it, so it would shore up US national security and large scale investments in these new technologies would also turbocharge US economic growth and hopefully allow us to avoid the bust that is likely to ultimately occur following The approaching boom, and keep the economy growing long into the future, rather than just having a short term boom and bust, a large scale investment in the industries of the future could create a technological revolution that would generate very rapid growth in productivity, very rapid economic growth, shore up US national security, and result in technological miracles and medical breakthroughs, possibly curing all the diseases, cure cancer, cure Alzheimer's, extend life expectancy by decades, healthy life expectancy. So that is a very optimistic outcome that could result from President Trump becoming Fed Chairman Trump and gaining complete control over monetary policy. And this is all part of the plan of making America great again. If he really followed through on this, then he certainly would be able to restructure the US economy, re industrialize it, create a technological revolution that ensured us supremacy for the next century. That's how to finance the next American century.   Speaker 1  42:23   Oh, well, Richard, I like what you're leaving us with here. You're giving us some light, and you're talking about real productivity gains that really drives an economy and progress and an increased standard of living over the long term. But yes, in the nearer term, this fed takeover, there could be some pain and a whole lot of questions in getting there. Richard, your macro watch piece that caught my attention is so interesting to a lot of people. How can more people learn about that and connect with you and the great work you do on macro watch, which is your video newsletter   Richard Duncan  43:00   Thanks, Keith. So it's really been completely obvious that President Trump was very likely to try to take over the Fed. Nine months ago, I made a macro watch video in December called Will Trump in the Fed, spelling out various ways he could take over the Fed, and why he probably would find it necessary to do so. So what macro watch is is it describes how the economy really works in the 21st Century. It doesn't work the way it did when gold was money. We're in a completely different environment now, where the government is directing the economy and the Fed, or seeing the President has the power to create limitless amounts of money, and this changes the way everything works, and so that's what macro watch explains. It's a video newsletter. Every couple of weeks, I upload a new video discussing something important happening in the global economy and how that's likely to impact asset prices, stocks, bonds, commodities, currencies and wealth in general. So if your listeners are interested, I'd encourage them to visit my website, which is Richard Duncan economics.com that's Richard Duncan economics.com and if they'd like to subscribe, hit the subscribe button. And for I'd like to offer them a 50% subscription discount. If they use the discount coupon code, G, R, E, thank you, GRE, they can subscribe at half price. I think they'll find that very affordable. And they will get a new video every couple of weeks from me, and they will have immediate access to the macro watch archives, which have more than 100 hours of videos. Macro watch was founded by me 12 years ago, and I intend to keep doing this, hopefully far into the future. So I hope your listeners will check that out.   Keith Weinhold  44:46   Well, thanks, both here on the show and on macro watch Richard gives you the type of insight that's hard to find anywhere else, and you learn it through him oftentimes before it makes the headlines down the road. So. Richard, this whole concept of a Fed takeover is just unprecedented, as far as I know, and it's been so interesting to talk about it. Thanks for coming back onto the show.   Richard Duncan  45:08   Thank you, Keith. I look forward to the next time.   Speaker 1  45:17   Yeah, fascinating stuff from Richard in the nearer term, we could then see interest rate cuts that would go along with cuts to mortgages and credit card rates and car loan rates and all kinds of bank lending rates. This could pump up the value of real estate, stocks, Bitcoin, gold, nearly everything a wealth bonanza. Now, in polls, most Americans think that the Fed should stay independent from outside control. You really heard about how the President is dismantling the safeguards that protect that fed independence, the strategy he's using to bend the Federal Open Market Committee to His will. And this is not speculation, because, as you can tell, the takeover of the Fed is already underway. A fed governor has been fired. New loyalists are being installed, and key votes are lining up in the President's favor. But as far as the longer term, you've got to ask yourself, if these policies will inflate a giant bubble destined to burst down the road. I mean triggering a crisis as bad as 2008 I mean, these are the very questions that every investor should be asking right now, if you find this in similar content fascinating, and you want to stay on top of what is forward looking what's coming next macroeconomically, check out Richard Duncan's macro watch at Richard Duncan economics.com for our listeners, he's long offered the discount code for a 50% discount that code is GRE, that's Richard Duncan economics.com and the discount code GRE next week here on the show, we're bringing it back closer to home with key us, real estate investing strategies and insights, a lot of ways to increase your income. Until then, I'm your host. Keith Weinhold, don't quit you Daydream.   Speaker 3  47:20   Nothing on this show should be considered specific, personal or professional advice. Please consult an appropriate tax, legal, real estate, financial or business professional for individualized advice. Opinions of guests are their own. Information is not guaranteed. All investment strategies have the potential for profit or loss. The host is operating on behalf of get rich Education LLC, exclusively.   Speaker 1  47:40   You You know, whenever you want the best written real estate and finance info, oh, geez, today's experience limits your free articles access, and it's got paywalls and pop ups and push notifications and cookies disclaimers, it's not so great. So then it's vital to place nice, clean, free content into your hands that adds no hype value to your life. That's why this is the golden age of quality newsletters. And I write every word of ours myself. It's got a dash of humor, and it's to the point, because even the word abbreviation is too long, my letter usually takes less than three minutes to read, and when you start the letter, you also get my one hour fast real estate video. Course, it's all completely free. It's called the Don't quit your Daydream letter. It wires your mind for wealth, and it couldn't be easier for you to get it right now. Just text gre 266, 866, while it's on your mind, take a moment to do it right now. Text gre to 66866,   Keith Weinhold  48:59   The preceding program was brought to you by your home for wealth, building, get richeducation.com you.  

The Federal Reserve Board is meeting next week, where they will decide whether or not the country will cut interest rates—something President Trump has been very vocally in favor of. More recently, after the President fired the head of the Bureau of Labor Statistics, there has been a downward revision to the number of jobs created to the tune of 911,000. FOX Business White House correspondent Edward Lawrence joins FOX's Jessica Rosenthal to discuss how dramatically wrong the recent labor market data was and the palace intrigue ahead of the September Fed meeting. Learn more about your ad choices. Visit podcastchoices.com/adchoices

The Federal Reserve Board is meeting next week, where they will decide whether or not the country will cut interest rates—something President Trump has been very vocally in favor of. More recently, after the President fired the head of the Bureau of Labor Statistics, there has been a downward revision to the number of jobs created to the tune of 911,000. FOX Business White House correspondent Edward Lawrence joins FOX's Jessica Rosenthal to discuss how dramatically wrong the recent labor market data was and the palace intrigue ahead of the September Fed meeting. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Jon Hartley and Christopher Waller discuss monetary policy at the Fed, r-star, and the stance of monetary policy, the 2025 Federal Reserve framework review, quantitative easing and the size of the Fed balance sheet, the early 2020s inflation, and how payments are evolving since the passage of the GENIUS Act. Recorded on August 28, 2025. ABOUT THE SERIES Each episode of Capitalism and Freedom in the 21st Century, a video podcast series and the official podcast of the Hoover Economic Policy Working Group, focuses on getting into the weeds of economics, finance, and public policy on important current topics through one-on-one interviews. Host Jon Hartley asks guests about their main ideas and contributions to academic research and policy. The podcast is titled after Milton Friedman‘s famous 1962 bestselling book Capitalism and Freedom, which after 60 years, remains prescient from its focus on various topics which are now at the forefront of economic debates, such as monetary policy and inflation, fiscal policy, occupational licensing, education vouchers, income share agreements, the distribution of income, and negative income taxes, among many other topics. For more information about the podcast, or subscribe for the next episode, click here.

Plus: A federal judge blocks President Trump from removing Lisa Cook from the Federal Reserve Board. And, Ozempic-maker Novo Nordisk cuts 9,000 jobs as weigh-loss drug competition bites. Kate Bullivant hosts. Sign up for WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Conservative activist Charlie Kirk is shot and killed at an event at Utah Valley University; Senate Minority Leader Chuck Schumer (D-NY) forces a vote in the Senate on an amendment to release all the files related to the case of convicted sex offender Jeffrey Epstein; NATO Secretary General Mark Rutte says Russia flying drones over Poland "reckless and dangerous… whether it was intentional or not". Poland shot down the drones with the aid of NATO allies; U.S. House of Representatives votes on whether to continue U.S. aid to Ukraine for its war with Russia; Senate Banking committee approves the nomination of Stephen Miran for Federal Reserve Board governor in a party-line vote; Rep.-elect James Walkinshaw (D-VA) is sworn-in after winning Tuesday's special election; Attorney General Pam Bondi announces a major seizure of illegal vaping products around the country smuggled in from China. Learn more about your ad choices. Visit megaphone.fm/adchoices

Health and Human Services Secretary Robert F. Kennedy Jr. will testify in the Senate today following a week of upheaval at the Centers for Disease Control and Prevention. A Senate committee holds a hearing on President Trump's nominee to fill a vacant seat on the Federal Reserve Board of Governors. And, a federal judge in Boston has handed Harvard University a win, ruling the Trump administration unlawfully froze billions of dollars in research funds. Want more comprehensive analysis of the most important news of the day, plus a little fun? Subscribe to the Up First newsletter.Today's episode of Up First was edited by Diane Webber, Rafael Nam, Lauren Migaki, Lisa Thomson and Alice Woelfle. It was produced by Ziad Buchh, Nia Dumas and Christopher Thomas. We get engineering support from Neisha Heinis. And our technical director is Carleigh Strange.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy

The Federal Reserve Board of Governors has gotten a lot of attention lately — President Trump is attempting to remove one member and has nominated another. But there's more under the central bank umbrella than president-appointed officials. In this episode, we break down why regional Fed banks and Fed presidents matter. Plus: The latest Beige book shows an uptick in lending, shipping costs are down and an economist walks us through her process for reading a CPI report.Every story has an economic angle. Want some in your inbox? Subscribe to our daily or weekly newsletter.Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

The Federal Reserve Board of Governors has gotten a lot of attention lately — President Trump is attempting to remove one member and has nominated another. But there's more under the central bank umbrella than president-appointed officials. In this episode, we break down why regional Fed banks and Fed presidents matter. Plus: The latest Beige book shows an uptick in lending, shipping costs are down and an economist walks us through her process for reading a CPI report.Every story has an economic angle. Want some in your inbox? Subscribe to our daily or weekly newsletter.Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

In our news wrap Thursday, D.C. is suing the Trump administration to end its deployment of the National Guard in the city, President Trump’s nominee to fill an open seat on the Federal Reserve Board of Governors said he would not resign his position at the White House if confirmed to the role and Gaza health officials say more than 64,000 people have been killed in the Israel-Hamas war. PBS News is supported by - https://www.pbs.org/newshour/about/funders. Hosted on Acast. See acast.com/privacy

President Trump joined Ukrainian President Volodymyr Zelenskyy and European leaders on a call about the war in Ukraine. According to a statement from a White House official, during the call, Trump pressed European leaders to halt purchases of Russian oil that are funding the conflict and urged them to place economic pressure on Beijing for supporting the Kremlin's war effort. Zelenskyy also announced that 26 countries have agreed to provide Ukraine with security guarantees.Health Secretary Robert F. Kennedy Jr., in a fiery Senate hearing on health care policies, defended recent firings at HHS as well as his past comments on vaccines. Meanwhile, the Senate is weighing President Trump's nominee to the Federal Reserve Board, as the Justice Department opens a criminal investigation into Fed Governor Lisa Cook for alleged mortgage fraud.At the White House, the First Lady led an AI education task force meeting as top tech leaders gathered in the Rose Garden. Meanwhile, Washington, D.C., filed a lawsuit against the Trump administration and the military over the deployment of the National Guard in the nation's capital.

In our news wrap Thursday, D.C. is suing the Trump administration to end its deployment of the National Guard in the city, President Trump’s nominee to fill an open seat on the Federal Reserve Board of Governors said he would not resign his position at the White House if confirmed to the role and Gaza health officials say more than 64,000 people have been killed in the Israel-Hamas war. PBS News is supported by - https://www.pbs.org/newshour/about/funders. Hosted on Acast. See acast.com/privacy

It's the worst of both worlds: inflation remains an issue (which is why you might hike interest rates) but the job market is softening (which is why you might cut interest rates). In other words, Trump Stagflation, with a side order of political pressure on what's supposed to be an independent Federal Reserve Board. We'll discuss this dilemma with Sean O'Malley. And we'll ask Joe Zepecki about the possibility that the president will send military troops to Milwaukee… just because. Mornings with Pat Kreitlow is powered by UpNorthNews, and it airs on several stations across the Civic Media radio network, Monday through Friday from 6-9 am. Subscribe to the podcast to be sure not to miss out on a single episode! To learn more about the show and all of the programming across the Civic Media network, head over to civicmedia.us/shows to see the entire broadcast line up. Follow the show on Facebook, X, and YouTube. Guests: Joe Zepecki, Chad Holmes, Sean O'Malley

Trump was losing in the courts. He's not anymore.In the early months of the administration, the courts were proving a powerful check on President Trump, blocking many of his boldest actions. But those were the lower courts. In the past few months, the Supreme Court has weighed in, and it has handed Trump win after win after win.So what do these decisions enable the president to do? And why is the Supreme Court giving Trump what he wants?To pull all this apart, I'm joined by Kate Shaw. She is a former Supreme Court law clerk, a professor at the University of Pennsylvania Carey Law School and a host of the “Strict Scrutiny” podcast.Note: This episode was recorded on Aug. 21, before Trump announced his intention to fire Lisa Cook from the Federal Reserve Board of Governors and before Immigration and Customs Enforcement re-arrested Kilmar Armando Abrego Garcia and began processing him for deportation to Uganda.Mentioned:“Don't Believe Him” by Ezra Klein“This Is the Presidency John Roberts Has Built” by Peter M. ShaneBook Recommendations:Lawless by Leah LitmanVera, or Faith by Gary ShteyngartWe the People by Jill LeporeThoughts? Guest suggestions? Email us at ezrakleinshow@nytimes.com.You can find the transcript and more episodes of “The Ezra Klein Show” at nytimes.com/ezra-klein-podcast. Book recommendations from all our guests are listed at https://www.nytimes.com/article/ezra-klein-show-book-recs.htmlThis episode of “The Ezra Klein Show” was produced by Elias Isquith. Fact-checking by Michelle Harris. Our senior engineer is Jeff Geld. Mixing by Isaac Jones and Aman Sahota. Our executive producer is Claire Gordon. The show's production team also includes Marie Cascione, Annie Galvin, Rollin Hu, Elias Isquith, Kristin Lin, Jack McCordick, Marina King and Jan Kobal. Original music by Aman Sahota and Pat McCusker. Audience strategy by Kristina Samulewski and Shannon Busta. The director of New York Times Opinion Audio is Annie-Rose Strasser. Special thanks to Josh Chafetz. Unlock full access to New York Times podcasts and explore everything from politics to pop culture. Subscribe today at nytimes.com/podcasts or on Apple Podcasts and Spotify.

PREVIEW: BATTLE OF THE FED: Colleague Liz Peek comments on the Wall Street expectations of cuts in the Fed funds rate and what it may mean for all home shopping. More later. 1917 FEDERAL RESERVE BOARD

Watch The X22 Report On Video No videos found (function(w,d,s,i){w.ldAdInit=w.ldAdInit||[];w.ldAdInit.push({slot:17532056201798502,size:[0, 0],id:"ld-9437-3289"});if(!d.getElementById(i)){var j=d.createElement(s),p=d.getElementsByTagName(s)[0];j.async=true;j.src="https://cdn2.decide.dev/_js/ajs.js";j.id=i;p.parentNode.insertBefore(j,p);}})(window,document,"script","ld-ajs");pt> Click On Picture To See Larger PictureThere is virtually no inflation, the Fed predictions have not come true, energy prices are down, so why isn't the Fed lowering the rates by 2 to 3 points? ECB panics over Trump going after the Fed, their world is about to be destroyed. If Trump did not create the parallel system the country would be in a depression right now. The [DS] wants a war, it is part of the 16 year plan and they are trying to move forward with it. The EU has blamed Russia for the illegal problem, cyber attacks and now Ursla says Russia jammed her plane and she had to land. Scare Event will be necessary to have peace. Trump has now called out Big Pharma. Big Pharma gave Trump the covid vaccine results but has not shown the same results to the public, Trump wants them to be transparent. Did Big Pharma lie to Trump during covid to push their vaccines?   Economy (function(w,d,s,i){w.ldAdInit=w.ldAdInit||[];w.ldAdInit.push({slot:18510697282300316,size:[0, 0],id:"ld-8599-9832"});if(!d.getElementById(i)){var j=d.createElement(s),p=d.getElementsByTagName(s)[0];j.async=true;j.src="https://cdn2.decide.dev/_js/ajs.js";j.id=i;p.parentNode.insertBefore(j,p);}})(window,document,"script","ld-ajs");  President Trump Calls on Judge Jia Cobb to Recuse Herself From Lawsuit by Fired Federal Reserve Board Member Lisa Cook After Sorority They Are Both Members of Releases Statement in Support of Cook  President Donald Trump posted a statement Sunday night calling on U.S. District Judge Jia Cobb to recuse herself from presiding over the lawsuit by Federal Reserve Board of Governors member Lisa Cook challenging Trump's firing of her from the Fed last Monday over allegations of mortgage fraud. https://twitter.com/RapidResponse47/status/1962326210312016149?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1962326210312016149%7Ctwgr%5Ebf1a09094e9d30de8c0fd36bfbd472dd31c215bb%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.thegatewaypundit.com%2F2025%2F09%2Fpresident-trump-calls-judge-jia-cobb-recuse-herself%2F Source: thegatewaypundit.com Trump's Pressure on the Fed Poses a ‘Very Serious Danger,' ECB President Warns President Donald Trump's push to take control of the Federal Reserve could pose a serious threat to the U.S. and global economy, European Central Bank President Christine Lagarde has warned. It would be “very difficult” for Trump to take control of the Fed because he can only remove Fed governors if the Supreme Court finds them guilty of serious misconduct, Lagarde told France's Radio Classique on Monday. “If he succeeds, that would be a very serious danger for the American and global economy,” Lagarde said. Source: barrons.com Bessent: Trump May Declare National Housing Emergency This Fall Treasury Secretary Scott Bessent told the Washington Examiner on Monday that President Donald Trump might declare a national housing emergency this fall to address rising prices and dwindling supply. It would be the first national housing emergency since the Great Recession, Datoc reported, when the housing bubble burst as President Barack Obama was preparing to take over the White House from former President George W. Bush. Trump blasted Federal Reserve Chair Jerome Powell earlier this month for "hurting" the housing industry "very badly" as he campaigned for a reduction in interest rates. Trump has repeatedly urged Powell to cut interest rates while also sharply criticizing Powell.

2.  #LONDINIUM90AD LIVE AT 6 PM ET SUNDAY: 8/31:  GAIUS & GERMANICUS DEBATE: The Federal Reserve: America's Vestal Virgins and the Emperor's Reach.    Gaius and Germanicus use the Roman Vestal Virgins as a metaphor for the American Federal Reserve, focusing on themes of trust, independence, and accountability to the "emperor" (the President). In Rome, Vestal Virgins were "contract keepers," embodying "trust" and "nonpartisanship," essential for the "Roman worthiness" of the state. They safeguarded the "eternal flame of Vesta, the goddess of the hearth," which symbolized the protection of Rome's identity and integrity. Initially, Vestal Virgins were independent of the Senate, with the Pontifex Maximus holding ultimate authority over them; upon becoming emperor, Augustus assumed this role, blurring the lines between religion and politics. The speakers portray the Federal Reserve as America's "Vestal Virgins," with the "almighty dollar" and the monetary system serving as the nation's "hearth". Gaius explains that the Federal Reserve was established in 1907 to address market failures, such as the one bailed out by JP Morgan. It only gained its "so-called independent" status through legislation in 1951, having been seen as a clear "function of the government" before then. Despite this perceived independence, they argue that the Federal Reserve is "not outside of the emperor and the emperor's reach". A recent "melodrama" involving a Federal Reserve board member (Cook) accused of misleading on mortgage applications, and the President's swift public response ("you're fired"), underscores the tension between the Fed's asserted independence and presidential authority. Germanicus clarifies that while the Fed's "independence" implies its decisions shouldn't be controlled "capriciously by the emperor," it remains "part of the state" and "under the purview of the emperor". Like the six Vestal Virgins, there are seven governors on the Federal Reserve, nominated for terms. The legitimacy and authority of such institutions, much like the Vestal Virgins, require a "superordinate authority" to ensure accountability. Germanicus critically views Jerome Powell's (the Federal Reserve chairman) consistent defiance of the President's desire for lower interest rates as "unwise" and possibly "personal," which he believes eroding public trust. He questions why Powell has not publicly addressed concerns about his leadership or a board member's alleged misconduct. The Federal Reserve Board, they point out, is not part of the "original constitutional system" laid out in America's founding documents, meaning its "independence" granted by 1951 legislation is not constitutionally embedded. The Federal Reserve, therefore, like the Vestal Virgins, remains "under the purview of the emperor". 1712 CAESAR #LONDINIUM90AD LIVE AT 6 PM ET EVERY SUNDAY: GAIUS & GERMANICUS DEBATE. FRIENDS OF HISTORY DEBATING SOCIETY. @MICHALIS_VLAHOS. PRODUCED BY CHRIS NOEL.

Barb McQuade hosts #SistersInLaw to usher in Labor Day with a discussion of Trump's attack on Federal Reserve Board member Lisa Cook, her lawsuit against him, and whether either of them has a case.  Then, they break down the assault on the CDC and the healthcare system under RFK Jr.'s tenure, and look ahead to what it means for the future of our national health.  They also use the recent sandwich-throwing incident to explore the use cases of jury nullification, and lay out our rights to free expression in the face of the president's E.O. targeting flag burning. Get the brand new ReSIStance T-Shirt & Mini Tote at politicon.com/merch #SistersInLaw Spin-off Shows Are Here! Check out Jill's New Politicon YouTube Show: Just The Facts Check out Kim's New Politicon Podcast: Justice By Design Books & Upcoming Tour Events From The #Sisters Joyce's new book, Giving Up Is Unforgivable, is now available for pre-order!  Not only that, for a limited time, you have the exclusive opportunity to order a signed copy here! Get Barb's book, Attack From Within, now in paperback! And, don't miss her ongoing tour!  You can buy tickets at barbaramcquade.com for all upcoming shows, or at the Aspen Institute Link for her appearances there.  You can also get tickets for her talk in Denver at this EventBrite link. Add the #Sisters & your other favorite Politicon podcast hosts on Bluesky Get your #SistersInLaw MERCH at politicon.com/merch WEBSITE & TRANSCRIPT Email: SISTERSINLAW@POLITICON.COM or Thread to @sistersInLaw.podcast Get text updates from #SistersInLaw and Politicon.  Mentioned By The #Sisters Trump's Flag Burning E.O Support This Week's Sponsors Lola Blankets: Get 35% off your entire order at Lolablankets.com by using code SISTERS at checkout.  Experience the world's #1 blanket with Lola Blankets. Factor:  Eat smart at FactorMeals.com/sil50off and use code SIL50OFF to get 50% off your first box, plus Free Breakfast for 1 Year! Fast Growing Trees: Fall is planting season!  Get up to half off on select plants and other deals, plus 15% off your first purchase when you use the code SISTERS at checkout at fastgrowingtrees.com Blueland: For 15% off your order of green cleaning products, go to blueland.com/sisters Get More From The #SistersInLaw Joyce Vance: Bluesky | Twitter | University of Alabama Law | MSNBC | Civil Discourse Substack | Author of “Giving Up Is Unforgiveable” Jill Wine-Banks: Bluesky | Twitter | Facebook | Website | Author of The Watergate Girl: My Fight For Truth & Justice Against A Criminal President | Just The Facts YouTube Kimberly Atkins Stohr: Bluesky | Twitter | Boston Globe | WBUR | The Gavel Newsletter | Justice By Design Podcast Barb McQuade: Bluesky | Twitter | University of Michigan Law | Just Security | MSNBC | Attack From Within: How Disinformation Is Sabotaging America

OA1185 - The rule of law has never been put more to the test in this country, and we do our best to keep up with at least a few of the most important decent developments. We begin with a brief review of the current status of wrongfully-deported Salvadoran asylum seeker Kilmar Abrego Garcia. Why is the Trump administration desperately trying to re-deport this Central American man whom they already fully admit was deported to hell by mistake to… Uganda? Matt explains. Then: Did a federal judge really just shutter Florida's “Alligator Alcatraz”? We consider the history of this surprisingly significant swampland and why an environmental challenge to its existence was so much easier to win than one based in due process, while also celebrating a major win for native rights. Another major presidential first this week: for the first time in US history, the President has claimed the authority to fire a member of the Federal Reserve Board of Governors. Could this one decision really have global economic consequences? How much does it matter that Trump has done literally the one thing that the Supreme Court has ever told him *not* to do? We review some basics to try to understand the full magnitude of what this all means for our current moment before moving on to today's footnote: an outstanding decision from a Virginia federal judge which should stand as a model for how the judiciary can stand up to American fascism. Kilmar Abrego Garcia's Motion to Dismiss Based on Vindictive and Selective Prosecution Abrego Garcia habeas docket SCOTUS shadow docket order in Trump v. Wilcox (5/22/2025) Judge Williams's order closing “Alligator Alcatraz” (8/21/2025) Order granting motion to dismiss in U.S. v. Russell (8/26/2025) Check out the OA Linktree for all the places to go and things to do!

Armed with incontrovertible evidence that DEI Federal Reserve Board Governor Lisa Cook has committed repeated mortgage fraud, the great and powerful President Donald J. Trump has fired Cook for cause.Naturally, being a DEI appointed woman of a certain sort, Cook has refused to be fired and has filed a lawsuit against Trump in Federal court.  Notably, nowhere in Cook's filed complaint does she deny the mortgage fraud claimed by Trump—that within a single two-week period Cook secured two federally-backed mortgages on separate properties in separate states and claimed both as her primary residence—a status that secures Cook more favorable federally-backed mortgage interest rates, lower insurance rates, and so on.  Apparently false filings on yet a third property also have now come to light.All of these acts of mortgage fraud would qualify as federal felonies for anybody.  These credible and uncontested accusations of mortgage fraud against a Governor of the Federal Reserve, tasked with setting mortgage and other interest rates for the entire nation, obviously makes Cook's continued service on the Board untenable, and provide more than adequate grounds for Trump to fire her for cause. Importantly, removing known Trump-hater Cook from the Federal Reserve Board—she's publicly referred to Trump as a “fascist”—would open the door for a replacement of Cook that would be more amenable to rationally lowering the nation's interest rates, saving billions in interest cost for the nation generally, and turbo-charging home and other purchases for individuals. The #1 guide for understanding when using force to protect yourself is legal. Now yours for FREE! Just pay the S&H for us to get it to you.➡️ Carry with confidence, knowing you are protected from predators AND predatory prosecutors➡️ Correct the common myths you may think are true but get people in trouble​➡️ Know you're getting the best with this abridged version of our best-selling 5-star Amazon-rated book that has been praised by many (including self-defense legends!) for its easy, entertaining, and informative style.​➡️ Many interesting, if sometimes heart-wrenching, true-life examplesGet Your Free Book: https://lawofselfdefense.com/getthebook

President Trump is trying to fire Federal Reserve Board of Governors Member Lisa Cook over alleged mortgage fraud. Is it legal? Trump is under fire for issuing an Executive Order going after people who burn the American flag. Does Trump have the authority to send in the National Guard to cities other than Washington D.C.? // A horrific shooting at a Catholic school in Minneapolis has left two children dead. // Cracker Barrel has reversed course and is bringing back its old logo.

On today's episode, co-hosts Yasmin Gagne and Josh Christensen discuss the latest news in business and innovation. Topics include Federal Reserve Board of Governors member Lisa Cook affirming she won't step down despite President Trump threatening to fire her; Elon Musk's X and xAI suing Apple and OpenAI for anticompetitive collusion; Germany and Italy suspending shipments to the U.S. over tariffs; Spotify launching a messaging feature on their platform; and Cracker Barrel shares rising after reverting to its original logo. Next, Yaz and Josh talk to Fast Company senior editor Max Ufberg about Mark Zuckerberg increasing his spending on his private security to $27 million this past year. And he isn't the only one; they discuss why many CEOs are investing more in personal protection. Finally, Yaz interviews Tubi CEO Anjali Sud about the company's massive library, its revenue model, its product strategy to help users navigate its massive content catalog, and creating fan-driven original content. Currently, the streaming platform has 100million monthly active users and 300,000 movies and TV episodes to date. For more of the latest business and innovation news, go to https://www.fastcompany.com/news To read Max Ufberg's article on Mark Zuckerberg:https://www.fastcompany.com/91387503/meta-spent-27-million-protecting-mark-zuckerberg-last-year

The biggest story of the day is the horrible school/church shooting in Minneapolis on Wednesday. Seventeen people were shot, and two school students died. The details continue to come in today, and, as you can imagine, anti-2nd Amendment zealots are crying for the abolishment of gun ownership. Meanwhile, Leftist media hacks and the Deep State ramp up their cries against guns. And everyone forgets about the U.S. Constitution's Second Amendment.Meanwhile, people in Illinois -- specifically Chicago -- are crying for help from their lawmakers to tackle their criminality that keeps citizens there petrified with fear as their neighbors are attacked when they dare get out.The member of the Federal Reserve Board who has been revealed to be guilty of mortgage fraud made clear she will NOT resign her position. In fact, she filed a lawsuit against Trump this morning for his actions to remove her.

Get your own personalized summer school diploma here.Today on our final episode of Summer School 2025, we will test your knowledge. We will salute the unsung heroes of government service. And we will pick our valedictorian from among you of the class of 2025. Editorial Note:President Trump attempted to fire Lisa Cook, a Biden appointee to the Federal Reserve Board. Our daily podcast, The Indicator, has coverage on their latest episode. We'll have an episode in the Planet Money feed soon, in the meantime, here's some background listening on why this is so important. Years before she joined the Fed, we profiled the work of Lisa Cook. Listen here.Also these: Happy Fed Independence DayA primer on the Federal Reserve's independenceThe case for Fed independence in the Nixon tapesTurkey's runaway inflation problem Arthur Burns: shorthand for Fed failure? Should presidents have more of a say in interest rates?Can the Federal Reserve stay independent? It's hard out there for a Fed chair The series is hosted by Robert Smith and produced by Eric Mennel. Our project manager is Devin Mellor. This episode was edited by Planet Money Executive Producer Alex Goldmark and fact-checked by Emily Crawford.Always free at these links: Apple Podcasts, Spotify, the NPR app or anywhere you get podcasts.Find more Planet Money: Facebook / Instagram / TikTok / Our weekly Newsletter.Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy

In a dramatic confrontation, a member of the Federal Reserve Board of Governors disputes President Trump's authority to fire her. Drugmaker Eli Lilly claims a GLP-1 is on track for FDA approval after a successful trial. And while Indiana Republicans consider a new congressional map, a judge tells Utah to examine their current one.  Learn more about your ad choices. Visit podcastchoices.com/adchoices

This is a free preview of a paid episode. To hear more, visit www.politix.fmThis week, a close look at two troubling authoritarian provocations from the Trump administration: Friday's dawn FBI raid of John Bolton's house in Maryland, and Monday's purported firing of Lisa Cook, a member of the Federal Reserve Board of Governors. We discuss:* How Matt managed to leave his microphone in Maine.* What Trump seemingly hopes to accomplish by making an example out of Bolton.* Whether opposing the retributive prosecution of a crank like Bolton represents a good test of how to build a unified front against fascism.* Also, what the fuck is going on with Trump's bruises and cankles?Then, do the Bolton and Cook abuses provide the broad left any openings to peel off Republicans who might see Trump's consolidation of power as a threat to their own ambitions. If he'll go after a stalwart Republican like Bolton, why wouldn't he go after certain Republican presidential candidates? If overlook Trump's harassment of Cook, what leg will they have to stand on when 2029 Democrats purge Republicans from government, mine their federal records, and have a big fat precedent to point to.All that, plus the full Politix archive are available to paid subscribers—just upgrade your subscription and pipe full episodes directly to your favorite podcast app via your own private feed.Further reading:* Matt on the economic downside of personalist autocracies like the one Trump is building.* Brian makes the case against liberal rectitude politics, which make it so hard for the whole, unified party to stand up for itself. * HEADLINE: Trump, 79, Smears Right Hand in Makeup Amid Cankles Cover-Up.

Among all the shortages in war-ravaged Gaza, clean water is one of the most critical. Already facing the perils of famine and a new Israeli military offensive, families must engage in a daily hunt for water that often is barely usable. Also: today's stories, including the latest on U.S. President Donald Trump's attempt to oust Lisa Cook from the Federal Reserve Board; how a Syrian comedy renaissance is blooming in Damascus; and how some states are attempting to impose campaign spending limits. Join the Monitor's Kendra Nordin Beato for today's news.

oday on the show: Cracker Barrel reverses course. Will it help? Political Analyst Stephen Lawson live in studio. Steven Portnoy from ABC News on the attempted removal of Federal Reserve Board of Governors. Huge tariffs on India begin today. Plus, the $5K a Day Bonus Blitz! 9am-noon on 95.5 WSB.

oday on the show: Cracker Barrel reverses course. Will it help? Political Analyst Stephen Lawson live in studio. Steven Portnoy from ABC News on the attempted removal of Federal Reserve Board of Governors. Huge tariffs on India begin today. Plus, the $5K a Day Bonus Blitz! 9am-noon on 95.5 WSB.

oday on the show: Cracker Barrel reverses course. Will it help? Political Analyst Stephen Lawson live in studio. Steven Portnoy from ABC News on the attempted removal of Federal Reserve Board of Governors. Huge tariffs on India begin today. Plus, the $5K a Day Bonus Blitz! 9am-noon on 95.5 WSB.

The state of the US Federal Reserve has always prompted responses from financial markets, but recent actions from the Trump administration have raised eyebrows. Trump recently came out and said he was going to fire Federal Reserve Board member Lisa Cook earlier in the week. Milford Asset Management's Andrew Curtayne unpacked the market reactions LISTEN ABOVE See omnystudio.com/listener for privacy information.

Rachel Maddow highlights the difference between Donald Trump's rhetoric and his actions and notes that taking the big picture of Trump's actions can illuminate significant trends. For example, moving an individual out of one position in the administration into another may not seem particularly noteworthy until it becomes clear that Trump is moving people into ambassadorships instead of firing them. Similarly, a pattern appears to be taking shape as high-level military and national security leaders are being dismissed from service.Donald Trump is acting as though he has the authority to fire members of the Federal Reserve Board and had attempted to do so with Governor Lisa Cook. Paul Krugman joins to explain the disaster Trump is courting.Constantly making a mess of the Kilmar Abrego Garcia case hasn't stopped the Trump administration from continuing to do so. Today a judge prevented his deportation to Uganda.And red states that have sent National Guard troops to serve in Trump's military occupation of Washington, D.C. have cities with higher crime rates than D.C., exposing the lie that these deployments have anything to do with fighting crime.

Late Monday, President Trump announced plans to remove Lisa Cook from the Federal Reserve Board of Governors over unproven allegations of mortgage fraud. The move is part of his months-long effort to reshape the central bank and pressure it to lower interest rates. But meddling with the Fed's independence could backfire. On today's show, we look at the implications of political interference at the Fed, from the bond market to the U.S. and global economies. Plus, how FEMA's elimination of hazard mitigation programs will affect the country.Every story has an economic angle. Want some in your inbox? Subscribe to our daily or weekly newsletter.Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

Join Jim and Greg for Tuesday's 3 Martini Lunch as they dig into how the Kamala Harris campaign's extravagant spending left the DNC paying her debts, President Trump's efforts to force Lisa Cook from the Federal Reserve Board of Governors, and famed rapper Snoop Dogg getting fed up at LGBT content getting shoved into movies for kids.First, their jaws hit the floor as the New York Times reports that Kamala Harris spent $1.5 billion over a 15-week campaign and DNC had to pay her outstanding debts. There is no silver lining for the Dems from the Harris campaign, and Jim explains why he does not expect her to run in 2028.Next, they dig into the standoff between President Trump and Lisa Cook of the Federal Reserve Board of Governors. Trump says Cook is fired for falsely claiming two different homes as her primary residence within a couple of weeks. Cook is refusing to leave the Fed. So, this is headed to court and Jim says Trump might not have the legal high ground here.Finally, they react to Snoop Dogg getting mad that a same-sex couple with a baby was included in the new kids' movie Lightyear. It's part of the Toy Story franchise. The rapper and ubiquitous media figure says his young grandson peppered him with questions about how that could happen, and he was unprepared to answer. Snoop Dogg says that content should not be in movies geared for children, so of course many of the left are now denouncing him.Please visit our great sponsors:Upgrade your skincare routine with Caldera Lab and see the difference.  Visit https://CalderaLab.com/3ML and use code 3ML at checkout for 20% off your first order.Feel the difference of an extraordinary night's sleep with Boll & Branch—get 15% off plus free shipping on your first set of sheets at https://www.BollandBranch.com/THREEMARTINI (exclusions apply).This Fall, save up to 50% on select plants at Fast Growing Trees—plus get an extra 15% off your first purchase with code MARTINI at https://www.Fast-Growing-Trees.com (limited time, terms apply).

Late Monday, President Trump announced plans to remove Lisa Cook from the Federal Reserve Board of Governors over unproven allegations of mortgage fraud. The move is part of his months-long effort to reshape the central bank and pressure it to lower interest rates. But meddling with the Fed's independence could backfire. On today's show, we look at the implications of political interference at the Fed, from the bond market to the U.S. and global economies. Plus, how FEMA's elimination of hazard mitigation programs will affect the country.Every story has an economic angle. Want some in your inbox? Subscribe to our daily or weekly newsletter.Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

President Trump made it clear he is seeking more control of the Federal Reserve. He said he fired Fed Governor Lisa Cook from the bank's board, but she says she's not leaving and will take the administration to court. At stake is the balance of power on the nation's top bank, which could undermine its long-held independence. Amna Nawaz discussed more with Lael Brainard and David Wessel. PBS News is supported by - https://www.pbs.org/newshour/about/funders. Hosted on Acast. See acast.com/privacy

The Federal Reserve Board's first Black woman governor says she will sue to prevent her removal by President Trump. AP correspondent Jennifer King reports.

President Trump made it clear he is seeking more control of the Federal Reserve. He said he fired Fed Governor Lisa Cook from the bank's board, but she says she's not leaving and will take the administration to court. At stake is the balance of power on the nation's top bank, which could undermine its long-held independence. Amna Nawaz discussed more with Lael Brainard and David Wessel. PBS News is supported by - https://www.pbs.org/newshour/about/funders. Hosted on Acast. See acast.com/privacy

Faron Daugs, CFP, Founder and CEO, Harrison Wallace Financial Group, joins John to talk about the market not having much of a reaction to President Trump trying to fire Federal Reserve Board member Lisa Cook, the overall health of the economy, the impact of tariffs still being relatively unknown, consumer confidence coming in stronger than expected, and the […]

Watch The X22 Report On Video No videos found (function(w,d,s,i){w.ldAdInit=w.ldAdInit||[];w.ldAdInit.push({slot:17532056201798502,size:[0, 0],id:"ld-9437-3289"});if(!d.getElementById(i)){var j=d.createElement(s),p=d.getElementsByTagName(s)[0];j.async=true;j.src="https://cdn2.decide.dev/_js/ajs.js";j.id=i;p.parentNode.insertBefore(j,p);}})(window,document,"script","ld-ajs");pt> Click On Picture To See Larger Picture The EU folded and they made a deal with the US. The US has the advantage now. Trump admin is putting pressure on Fed Gov Cook to resign. Trump is positioning himself to have the majority in the Fed to vote for a rate cut. The tariffs will begin paying off the debt. Trump is now dismantling the 5th column. We are in the process of taking back the country from the evil tyrants. The [DS] might try a [FF] before the midterms. If they believe they don't have a chance in winning there is a possibility of an event. Trump and the patriot's are expecting this to happen and this is why the NG is being put into place to counter the riots and other events.   Economy https://twitter.com/howardlutnick/status/1958484249406775348 This deal: Eliminates EU tariffs on all U.S. industrial goods, Creates historic access to the vast European markets for American farmers, fishermen and ranchers, Delivers $750B in European energy demand during President Trumps term And EU firms will invest an additional $600B in new investments in America The America First Trade Agenda has secured the most important trading partner creating a major win for American workers, U.S. industries, and our national security. Tariffs should be one of America's favorite words. See the full Joint Statement below (function(w,d,s,i){w.ldAdInit=w.ldAdInit||[];w.ldAdInit.push({slot:18510697282300316,size:[0, 0],id:"ld-8599-9832"});if(!d.getElementById(i)){var j=d.createElement(s),p=d.getElementsByTagName(s)[0];j.async=true;j.src="https://cdn2.decide.dev/_js/ajs.js";j.id=i;p.parentNode.insertBefore(j,p);}})(window,document,"script","ld-ajs");   https://twitter.com/KobeissiLetter/status/1958486074885586971   only MFN tariffs on EU aircraft/parts, generics, chemical precursors, and scarce natural resources 4. EU to eliminate tariffs on all US industrial goods and grant preferential access for US seafood/agriculture Energy & Tech Purchases: 1. EU to buy $750B in US LNG, oil, and nuclear products 2. EU to purchase at least $40B in US AI chips Investment & Cooperation: 1. EU firms to invest $600B in US strategic sectors by 2028 2. Both sides to negotiate rules of origin to ensure benefits remain bilateral 3. Exploring cooperation on steel and aluminum market protections 4. Joint commitment to tackle digital trade barriers; EU pledges not to adopt network usage fees 5. Considering measures for secure supply chains, including tariff-rate quota solutions https://twitter.com/HedgieMarkets/status/1958245475704041673   the Fed is using inflation as a gauge for rate cuts, then rate cuts are nowhere near. Core CPI inflation is back above 3.0% and PPI inflation just jumped +0.9% MoM, its biggest jump in 3+ years. That said, the last Fed meeting happened BEFORE the last jobs report. Regardless, today's Fed Minutes were a major blow to the “Fed pivot” camp. Powell appears ready to hold rates steady if he feels it is necessary. The September jobs report will decide everything. https://twitter.com/pulte/status/1958281801023033751 Hypothetically, if she were to step down (or resign) from her position, the President would nominate a replacement to fill the vacancy for the remainder of her unexpired 14-year term. That nominee would then require confirmation by the U.S. Senate before taking office, as outlined in the Federal Reserve Act. This is the standard process for filling vacancies on the seven-member Federal Reserve Board. There are currently six members on the Federal Reserve Board of Governors,

Story of the Week (DR):End of summer anti-woke bro rage brigade MMNew Cracker Barrel Logo Sparks Right-Wing Backlash—From Trump Jr. And MoreMAGA erupts over Cracker Barrel logo change, and stock plungesRight-Winger, Others Call Out 'Woke' New Change To Cracker Barrel's Peg GameThe goal of the game is to whittle down the number of pegs on the board to one through a series of “jumping” pegs, not unlike checkers. Previously, directions on the game explained that people who have only one peg left on the board are geniuses, while people with two pegs left are “pretty smart.” However, if you leave three pegs, the game considers you “dumb,” while anyone who leaves four pegs is an “EG-NO-RA-MOOOSE.”That was the old game. New peg games have removed the playful insults and instead say, “leave three or more ― no reason to be embarrassed. Try again.”Sean Davis, the CEO of The Federalist: Cracker Barrel didn't just destroy its logo and restaurant vibe. It also changed the peg game to make dumb people feel better when they do poorly.Until October 2017, The Federalist had a "black crime" tag, which aggregated articles related to criminal activity by African AmericansChristian College's Hot Take On Cracker Barrel Has People Saying, ‘Huh?'Hillsdale College in Michigan: A post on its official account on X (formerly Twitter) likened the updated logo to a vandalized statue of President George Washington that was defaced during the 2020 protests over the police killing of George Floyd.MAGA Rep Drags Jesus Christ Into ‘Woke' Cracker Barrel MeltdownCongressman Byron Donalds slammed the restaurant chain for daring to rebrand after he had a religious experience in one of its Florida parking lots: “In college, I worked at @CrackerBarrel in Tallahassee,” the Florida Republican wrote on X, “I even gave my life to Christ in their parking lot. Their logo was iconic and their unique restaurants were a fixture of American culture. No one asked for this woke rebrand.”‘Cracker barrel goes woke': CEO under MAGA fire for changing logo first time in 48 years, removes ‘white guy'Steak 'n Shake slams Cracker Barrel CEO for eliminating 'old-timer' from logo: 'We take pride in our history'“This is what happens when you have a board that does not respect their historical customers or their brand.At Steak n Shake, we have gone back to basics. Our tallow fries are waiting for you. Oh yeah, you can also now pay with Bitcoin!”Entrepreneur Sardar Biglari owns Steak ‘n ShakeOwns 9.3% of Cracker barreltook control of Steak 'n Shake in August 2008 after three years of declining same-store sales and losses of $100,000 per day.Biglari controls the Steak 'n Shake Company, First Guard Insurance, Abraxas Petroleum, Maxim, Southern Oil of Louisiana, Southern Pioneer Insurance and the Western Sizzlin' corporation. Biglari was born in Iran in 1977However the chain ran into more problems in 2016 and onward, with revenue declining sharply.In 2021, Steak N' Shake made a strategic decision to transition away from casual dining and become a fast food restaurant. Steak 'n Shake replaced lunch counters with self-serve kiosks in 2021 to improve efficiency and reduce costs. Changing the service model allowed a significant reduction of store staffIn 2024, Biglari fought and lost a proxy contest with Cracker Barrel, trying to get himself and two buddies on the CB board.This marks the sixth time since 2011 that Biglari has initiated a proxy contest seeking seats on the Board (the fourth time for Sardar Biglari personally), and the seventh contested solicitation overall during that span.POP QUIZ:Was that the original logo?No. The Cracker Barrel chain opened first in 1969 and had a text-only logo. In 1977, the famous logo with a man and a barrel was introduced.Is Cracker Barrel's new-ish CEO (11/23) a man or a woman?Cracker Barrel CEO Julie Felss Masino and the new logo controversyMs. Masino previously served as the President, International of Taco Bell, a subsidiary of Yum! Brands, Inc. (NYSE: YUM) from January 2020 to June 2023. From January 2018 to December 2019, she served as President, North America of Taco Bell.“Cracker Barrel's new logo isn't an accident — it's CEO Julie Felss Masino's project. She scrapped a beloved American aesthetic and replaced it with sterile, soulless branding.”Benny Johnson said the logo change could cause the company to collapse in a similar way that Target and other stores that embraced DEI (diversity, equity and inclusion) did.‘Go woke, you go broke:' Ohio faith leaders urge Kroger to abandon LGBTQ+ policiesTrump calls on Federal Reserve Governor Lisa Cook to resignLisa DeNell Cook is an American economist who has served as a member of the Federal Reserve Board of Governors since May 23, 2022. She is the first African American woman and first woman of color to sit on the BoardCEO-to-worker pay gap surges to 632 to 1 at US's lowest-paying large firms, study shows: At 100 firms in S&P 500 with lowest median pay, executives' comp increased by average of nearly 35% over five yearsFTSE 100 CEO pay rises for third consecutive year, hitting record high CEO pay at top US companies accelerates at fastest pace in four yearsStarbucks CEO Tops List Of Sky-High Executive Pay PackagesStarbucks' CEO is ditching a merit system and giving all salaried staff a flat 2% pay raise insteadSuccession Theater: Target CEO Brian Cornell steps down after 11 years as sales continue to dropTarget's Brian Cornell to hand CEO job to Michael Fiddelke in FebruaryTarget CEO Brian Cornell will step down from the struggling retailer in February and its COO will succeed himTarget CEO Brian Cornell will step down from the struggling retailer in February and its COO will succeed himAlert: Target CEO Brian Cornell will step down from the struggling retailer in February and its COO will succeed himWhen the C.E.O. Retires but Won't Go AwayTarget is the latest company to keep a replaced chief executive around as an “executive chairman.” Does having two top dogs make sense?On August 15, 2025, following a comprehensive succession planning process, the Board of Directors (the “Board”) of Target Corporation (“Target”), appointed Michael J. Fiddelke, Target's current Executive Vice President and Chief Operating Officer, as Target's next Chief Executive Officer and a member of the Board, effective February 1, 2026. At that time, Brian C. Cornell will step down from his position as Chief Executive Officer and will continue to serve as Chair of the Board in an Executive Chair capacity.Goodliest of the Week (MM/DR):DR: Companies with climate targets have more than tripled since 2023: SBTiA total of 10,949 companies worldwide now either have near-term targets or near-term and net-zero targets, or have committed to set them, according to a report by the Science-Based Targets initiative.DR: The juxtaposition of these two headlines:Scientists Say They've Figured Out a Way to Turn Nuclear Waste Into a Powerful FuelScientists Can't Figure Out Why Just Walking In Nature Appears to Quickly Heal Your Brain RotMM: Why Shop? In Maine, the Library of Things Has It All (Almost)You can take out an electric lawn mower at the libraryMM: Lyft co-founders depart board, convert Class B shares - greatest de-dictatorship in modern history? From 30% voting power to 2% voting power as part of the conversion DRShares still worth a paltry $144mAssholiest of the Week (MM): Anti ESG is a jokeLegal definition of a fiduciary: The beneficiary has delegated authority to the fiduciary to act on its behalf;The fiduciary has discretionary powers over the beneficiary's assets or interests;The fiduciary is in a position superior to that of the beneficiary due to specialized access, knowledge or ability; andThe beneficiary trusts that the fiduciary will act in the beneficiary's best interest. (Ponet & Leib, 2011.)From Florida 2023 HB3An act relating to government and corporate activism…The board of trustees, subject to the fiduciary standards … and the requirements in s. 112.662…Which are… Notwithstanding any other law, when deciding whether to invest and when investing the assets of any retirement system or plan, only pecuniary factors may be considered and the interests of the participants and beneficiaries of the system or plan may not be subordinated to other objectives, including sacrificing investment return or undertaking additional investment risk to promote any nonpecuniary factorWhich includes… any social, political, or ideological interestsWhich applies to…Obligations of the United States or obligations guaranteed as to principal and interest by the government of the United StatesWhich makes investing in Treasury securities illegal because…White House Reportedly Launches A Scorecard Rating 500+ Companies On Trump LoyaltyThe rating system evaluates multiple factors, including social media activity, press releases, video testimonials, advertisements, participation in White House events, and other forms of engagement connected to the [One Big Beautiful Bill]Determines who they'll do business withFree speech dictatorsMeta spent $27 million protecting Mark Zuckerberg last year, more than any other CEOGoogle to Pay $36 Million in Anti-Competition FinesCoinbase CEO says he watched famous speeches to psych himself up before banning politics at the companyTrump May Further Redefine U.S. Capitalism With an Intel Move, ‘Come to America and lose $1B': Trump drives new offshore wind lossesFossil fuel “discrimination” laws prohibit discriminating against fossil fuels - there are no law to prevent “discrimination” against wind or solarHow Ownership Can Shape OutcomesHollowing out the corporate middle class MMStarbucks Sets 2% Raises for Corporate WorkersCoffee giant is in the midst of a turnaround; ‘We need to carefully manage all of our other costs'Starbucks earlier this year said it would lay off 1,100 corporate workersIn July, the company offered buyouts to corporate workers and said it would step up its in-office requirements later this year, to four days from three.From May: Starbucks and unionized baristas locked in a wage standoffNational Legal Policy Center actually filed a resolution this year demanding Starbucks produce a report detailing the human rights risks and “loss of shareholder value” if Starbucks “capitulates” to the union - union killing by SHP?Starbucks CEO Brian Niccol awarded $96 million pay package after 4 months on the jobUse of Starbucks aircraft for travel between city of primary residence and Starbucks headquarters and up to $250,000 in personal non-commuting travel per year; additional use of Starbucks aircraft for travel pursuant to Mr. Niccol's time sharing agreementHeadliniest of the WeekDR: 10 Candidates Will Vie for 4 Open Seats on USA Swimming Board of DirectorsDR: Walmart may have sold radioactive shrimp, FDA warnsMM: Silicon Valley talent keeps getting recycled, so this CEO uses a ‘moneyball' approach for uncovering hidden AI geniuses in the new era“There's different biases and filters about people's pedigree or where they came from. But if you could truly map all of that and just give credit for some people that maybe went through alternate pathways [then you can] truly stack rank,” Alex Bates, founder and CEO of AI executive recruiting platform HelloSky, told Fortune.MM: Forests in Certain Areas of the World Can Add to Global Warming I hate that headlineWho Won the Week?DR: The term “Bro IPO.” Or is it “BroPo?”MM: Damion. And it's BroPO.PredictionsDR: Target accidentally announces one of Brian COrnell's new board roles will be the Chairman of the We-Swear-It's-Not-My-Idea Task ForceMM: An analytics company somewhere realizes you can take the “moneyball” concept and apply it to people at publicly traded companies, making millions of dollars by giving investors the ability to vote for their fiduciaries by using advanced data, not voting on the fact that John is kind of cute and Leslie is a nice name.

The Congressional redistricting battle in the two most populous states moves from debate to votes. In Texas, Republicans are seeking to gain five more U.S. House seats for their party, and California, the exact opposite, with Democrats drawing a new map favoring their party in five more seats. We will hear debate from the Texas House of Representatives and Gov. Gavin Newsom (D-CA); Vice President JD Vance travels to Union Station in Washington to visit with and thank National Guard troops President Donald Trump has called up to deal with what he says is an out of control crime and homeless problem in the city; DC Mayor Muriel Bowser is asked about the Justice Department reportedly investigating whether DC manipulated crime statistics so they would appear lower than they really are; President Trump calls on Federal Reserve Board member Lisa Cook to resign after allegations she committed mortgage fraud; Gov. Josh Stein (D-NC) tells residents of his state to take the threat of Hurricane Erin seriously, even though it is not expected to make landfall; Russian Foreign Minister Sergei Lavrov says Russia needs to be involved in developing Ukrainian security guarantees as part of a peace agreement to end to the war between Russia & Ukraine. Learn more about your ad choices. Visit megaphone.fm/adchoices

Donald Trump and Vladimir Putin will meet in Alaska to work towards an end to the conflict between Russia and Ukraine. Can a deal be made without Volodymyr Zelensky, who was not invited to participate? Plus, White House Council of Economic Advisers chair Stephen Miran is tapped to fill a temporary spot on the Federal Reserve Board. Learn more about your ad choices. Visit megaphone.fm/adchoices

In the 5 AM hour, Larry O’Connor and Patrice Onwuka discussed: WJLA: Registered Sex Offender Seeks to Represent Self in Arlington School Exposure Case WASHINGTON TIMES: Trump Nominates Stephen Miran to Federal Reserve Board STEVE MOORE ON X: "Under President @realDonaldTrump, American family incomes grew tenfold compared to Joe Biden..." Where to find more about WMAL's morning show: Follow Podcasts on Apple, Audible and Spotify Follow WMAL's "O'Connor and Company" on X: @WMALDC, @LarryOConnor, @JGunlock, @PatricePinkfile, and @HeatherHunterDC Facebook: WMALDC and Larry O'Connor Instagram: WMALDC Website: WMAL.com/OConnor-Company Episode: Friday, August 8, 2025 / 5 AM HourSee omnystudio.com/listener for privacy information.

Anthony Richardson can't even get through a pre-season game without getting injured, $50 million for info that leads to arrest of Nicolas Maduro. Cattle prices at all-time high. Executive order on debanking, South Park mocks JD Vance, Disney settles with Gina Carano. JD Vance's visit to Indiana Toyota lowers outlook because of tariffs, Trump wants to stop the killing, and Nancy Mace's answer to a reporter was an unforced error, We don't know what JD Vance and Mike Braun talked about last night. Only Marion County residents can work for the City of Indianapolis? Another example of why Destiny Wells could not beat Diego Morales. Trump announces he’s chosen Dr. Stephen Miran to fill the vacancy on the Federal Reserve Board. Worst headline of the day. Tony's comedy influencersSee omnystudio.com/listener for privacy information.

Only Marion County residents can work for the City of Indianapolis? Another example of why Destiny Wells could not beat Diego Morales. Trump announces he’s chosen Dr. Stephen Miran to fill the vacancy on the Federal Reserve Board. Worst headline of the day. Tony's comedy influencersSee omnystudio.com/listener for privacy information.

President Donald Trump announces he is nominating Stephen Miran, current chair of the Council of Economic Advisers, to Federal Reserve Board, to replace a board member who has resigned; Wall Street Journal's Gavin Bade on first day with President Donald Trump's tariffs in effect on more than 90 countries (6); Sen. John Cornyn (R-TX) says FBI has agreed to assist Texas law enforcement in arresting Texas House Democrats who have fled to Illinois and other states to keep the Texas House Republican majority from voting on a new congressional redistricting map; Russian President Vladimir Putin welcomes President Trump's invitation to meet in person next week to discuss the war in Ukraine, and President Trump says a White House report that he believes Putin must first meet with Ukrainian President Volodymyr Zelensky is not true; U.S. Attorney for Washington, DC Jeanine Pirro says the Justice Department is considering pursuing the death penalty against the suspect in the Capital Jewish Museum fatal shooting. She is also asked about President Trump saying federal government may need to take over DC to curb crime, after a former DOGE staffer was brutally attacked; Today is National Purple Heart Day, honoring servicemembers wounded or killed by the enemy in military action. Learn more about your ad choices. Visit megaphone.fm/adchoices