Fed Governor Tells Trump ‘I Will Not Resign,’ and Israeli Strikes Kill 5 Journalists

26 Aug 2025 · 9 min · 7 chapters

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In short

The episode covers four main headlines. Topic 1: Trump fires Fed Governor Lisa Cook, alleging she falsified mortgage records to get a better rate; Cook says she won’t resign and will answer questions.

Key claims

the firing violates norms and could undermine Fed independence; it may go to court.

Notable examples

Cook and other governors voted against lowering rates; Bill Pulte amplified fraud claims online. Topic 2: Israeli strikes hit Nasser Hospital in Khan Yunis (double tap), killing at least five journalists and others; Netanyahu calls it a tragic mishap; Israel says it will investigate. Topic 3: Abrego-Garcia, wrongfully deported then returned, is back in U.S. custody; judge blocks re-deportation to Uganda. Topic 4: Trump expands National Guard roles nationwide.

Guests

none mentioned.

Written by AI. May contain mistakes. Listen to the episode to check what was said.

Chapters

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Trump Fires Fed Governor Lisa Cook

0:00 to 0:26

Discussion on Trump's controversial firing of Fed Governor Lisa Cook.

“This podcast is supported by Planned Parenthood Federation of America.”

Trump Fires Fed Governor Lisa Cook

0:40 to 2:35

Discussion on Trump's controversial firing of Fed Governor Lisa Cook.

“In a dramatic and legally dubious move, President Trump announced that he's firing Lisa Cook, one of the Fed's governors, effective immediately.”

Israeli Strikes in Gaza

2:35 to 4:22

Overview of the Israeli military strikes on a hospital in Gaza.

“against Senator Adam Schiff and New York's Attorney General Letitia James.”

Updates on Immigrant Detention Case

4:22 to 5:34

Latest details on the case of Kilmar Abrego-Garcia and his detention.

“The war in Gaza has been one of the deadliest conflicts for journalists anywhere in the world.”

Trump's National Guard Expansion

5:34 to 7:55

Examination of Trump's executive order for National Guard deployments.

“For the moment, a judge has barred that.”

North Korea's Tourism Industry

7:55 to 8:10

Insight into North Korea's efforts to boost tourism amidst sanctions.

“which could undermine his totalitarian grip on information, a key part of maintaining his power.”

Kim Novak's Return to the Spotlight

8:10 to 9:40

Kim Novak discusses her career and return at age 92.

“You know, it's the first party anyone ever gave for me in my life, I think.”
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Transcript

Automatic transcript. May contain errors.

0:00This podcast is supported by Planned Parenthood Federation of America. Here's a story that's not getting nearly enough attention. Defunding Planned Parenthood has already caused chaos and harm, and access to essential reproductive care is plummeting. Right now, the Trump administration's backers in Congress want to permanently defund Planned Parenthood, forcing even more health centers to close, and millions at risk of losing access to care. It takes less than a minute to help. Go to plannedparenthood.org slash defend and make a gift of any size. From The New York Times, it's the headlines. I'm Tracy Mumford.

0:37Today's Tuesday, August 26th. Here's what we're covering.

0:44In a dramatic and legally dubious move, President Trump announced that he's firing Lisa Cook, one of the Fed's governors, effective immediately. Trump justified the firing by saying that Cook had engaged in, quote, deceitful and potentially criminal conduct, pointing to allegations that she'd falsified records to get a better mortgage rate for herself. By law, the president can fire Fed governors if he can show cause, typically defined as professional neglect or wrongdoing. But Cook hasn't been charged with or convicted of any crime. And while she said she's willing to answer, quote, any legitimate questions about her financial history, she released a statement saying she will not step down.

1:26Over the last few months, Cook, along with most of the other Fed governors, has voted against lowering interest rates, even as the president has demanded that. Economic experts warn that Trump firing her could undermine the independence of the central bank and shake trust in an institution at the heart of the U.S. economy. The showdown between Cook and Trump is now likely to head to the courts, setting the stage for a landmark legal battle that could define the limits of the president's power. Cook's firing also fits into an emerging pattern of retribution from the administration. In President Trump's America, we're not going to have mortgage fraud.

2:05It doesn't matter who you are, whether you're a Republican or a Democrat. In the days leading up to the firing, the accusations of fraud against her were amplified on TV and social media by Bill Pulte, the director of the Federal Housing Finance Agency, who has also aggressively targeted other people Trump sees as political enemies. And whether it's the Schiff case or the Letitia James case or this case or all the other cases that we refer, this Cook one is not going away and she can laugh all she wants, but the law will catch up with her. Pulte has leveled similar mortgage fraud accusations against Senator Adam Schiff and New York's Attorney General Letitia James.

2:49In southern Gaza yesterday, shortly after 10 a.m., the Israeli military launched a strike hitting the facade of Nasser Hospital in Han Yunus, one of the territory's few functioning medical centers. Footage from the scene shows people rushing to the site, journalists and rescue workers who scrambled into the wreckage. Then, minutes later, A second Israeli strike hit the same part of the hospital. Smoke and dust were everywhere, and one hospital official told The Times, quote, all we could hear were screams. In all, the strikes killed at least 20 people, including first responders, patients, medical staff, and five journalists.

3:34When militaries target the same site twice in quick succession, it's known as a double tap. Rights groups have condemned that kind of attack, since people who rushed to the scene to help often become victims themselves. The Israeli military didn't respond to questions about whether it had intentionally used that tactic, and it hasn't said who or what the strikes were targeting. But in a rare statement of regret, Israeli Prime Minister Benjamin Netanyahu called the attack a tragic mishap. The military said it will investigate the strikes, though in a joint letter, Reuters and the Associated Press, which employed some of the journalists killed yesterday, wrote that when the Israeli military has carried out past investigations into its own conduct, they, quote, rarely result in clarity and action.

4:22The war in Gaza has been one of the deadliest conflicts for journalists anywhere in the world. The Committee to Protect Journalists has accused Israel of a deliberate effort to kill and silence reporters, saying almost 200 have been killed. Overall, according to Gaza health officials, the death toll of the war stands at more than 60 ,000 Palestinians, about a third of them children and teenagers.

4:51Now, two updates on other stories we've been following. Kilmar Armando Abrego-Garcia, the immigrant the U.S. wrongfully deported to El Salvador this spring, then brought back, is once again in U.S. custody. He was detained after he showed up at an ICE office yesterday in Baltimore for what was supposed to be an immigration check-in. Clearly, that was false, his lawyer said. A crowd of supporters outside the office began booing and chanting shame after he was taken into custody. The Trump administration previously claimed Abrego Garcia was a violent gang member. Since he was brought back to the U.S., he's been charged with human smuggling, and the government has now indicated it wants to re-deport him, this time to Uganda.

5:35For the moment, a judge has barred that. She made that extremely clear in court, telling government lawyers, who have previously ignored judicial orders in the case, that the administration is, quote, absolutely forbidden at this juncture to remove Mr. Abrego-Garcia from the continental United States. And, with more than 2 ,200 troops now on the ground in D.C., President Trump is paving the way for deployments across the country. Yesterday, he signed an executive order formalizing the creation of specially trained National Guard units in all 50 states that could be mobilized quickly for, quote, ensuring the public safety and order.

6:14It would be a major expansion of the National Guard's role in law enforcement. In recent days, Trump has openly talked about sending Guard troops to the streets of Chicago and other cities led by Democrats.

6:33In North Korea, the country's leader, Kim Jong-un, facing pressure from international sanctions and in need of cash, has turned to an unexpected industry—tourism. The Times got access to footage from a few recent visitors to the authoritarian country, including a Russian woman on vacation, a Swedish runner there for the Pyongyang Marathon, and a Chinese student. What they captured shows how North Korea is trying to recreate all the staples of capitalism, enticing people to eat, drink, and shop, even while the average North Korean earns as little as$1 ,000 a year. Footage from a gleaming shopping mall shows a clear copy of Starbucks, just without the logo.

7:17And there's a home goods store there with a layout identical to Ikea. The government also opened a brand new beach resort this summer, with staff standing by to serve guests every need. Dubbed North Korea's Waikiki, the whole complex is decked out. There are sleek new hotel rooms, jet skis to ride, and American beer to drink. For North Korea, part of the hope is that the shiny amenities will be a draw and bring in foreign money. One of the visitors said he paid for things in U.S. dollars. But analysts say it also presents a dilemma for Kim. Opening the country to tourists will inevitably bring in news and other outside influences, which could undermine his totalitarian grip on information, a key part of maintaining his power.

8:09And finally. You know, it's the first party anyone ever gave for me in my life, I think. Back in the 1950s, Kim Novak was one of the biggest movie stars out there. She was the top box office draw three years running. But I have to go to work. I've got a job. Don't go to your job. She's probably most famous for starring in Alfred Hitchcock's masterpiece Vertigo. I just want to be with you as much as I can, Judy. But Novak then stepped away from Hollywood almost entirely for the next 60 years. Now, at 92 years old, she's coming back to the spotlight. This weekend, she'll be at the Venice Film Festival to receive a Lifetime Achievement Award.

8:48A new documentary about her will also premiere at the festival. and Sidney Sweeney is going to play her in a new biopic about her life. The Times talked to Novak recently, and she explained her decision to step away from film in the first place, saying, I'm a very independent person who needs to express myself in my way, in my time. I'm willing to compromise, but I'm not willing to be someone I'm not. The director of the Venice Film Festival compared her to Marilyn Monroe, where Monroe died tragically at the height of her fame. he said Novak, quote, stepped away just in time, retreating into private life.

9:23Novak told the Times that at her age, she normally wouldn't even consider making the trip to Venice. But with the festival, quote, it's like a door is sort of opening by itself without me even touching it, and I just have to go and see what's behind it.

9:39Those are the headlines. Today on The Daily, why so many Americans are obsessed with loading up on protein. You can listen to that in the New York Times app or wherever you get your podcasts. I'm Tracy Mumford. We'll be back tomorrow.

10:16economic developments and bring context to conversations around stocks, fixed income, the economy, and more. Download the latest episode and subscribe at schwab.com slash oninvesting or wherever you get your podcasts.

From the publisher

Plus, a Hitchcock star re-emerges. 

On Today’s Episode:

Trump, in a Move With Little Precedent, Says He Is Firing a Fed Governor, by Tony Romm, Colby Smith and Ben Casselman

20 Killed in Gaza Hospital Strikes. Netanyahu Claims ‘Tragic Mishap’, by Isabel Kershner, Aaron Boxerman and Ameera Harouda

Abrego Garcia Detained Again After Government Signaled It Would Re-Deport Him, by Alan Feuer, Jazmine Ulloa and Chris Cameron

Trump Orders Major Expansion of National Guard’s Role in Law Enforcement, by John Ismay, Helene Cooper and Eric Schmitt

North Korea’s Glossy New Surface: Apps, Beaches and a Fake Starbucks, by Jiawei Wang and Choe Sang-Hun

Kim Novak, 92, Finds a Defiant Life Has Its Own Rewards, by David Belcher

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