Lisa Cook's lawyer, Abbe Lowell, argues that the committee Trump set up to investigate mortgage fraud allegations against the Fed governor cannot be fair, citing 'demonstrably biased members' and unspecified additional allegations. In a letter to adviser Will Scharf, Lowell said Cook cannot attend the November 5 in-person hearing because she will be on Fed duties in Europe, so the earliest possible hearing would be in December. Trump earlier called Cook 'dishonest' and an 'automatic no vote' for opposing rate cuts, and the White House said he is performing his constitutional duty. Lowell also said top economic adviser Kevin Hassett has prejudged the case by suggesting Trump has 'cause' to fire her. The Supreme Court blocked Trump's first attempt to remove Cook in late June for insufficient due process, and Cook denies the allegations.
Summary written by Upside AI from the original article. Read the source for full details.
Related news
- Lawyers for Cook say White House hearing set up by Trump is biased
- Trump 'not happy' with Kimberly Guilfoyle, weighs firing her as ambassador to Greece
President Donald Trump said he is 'not happy' with Kimberly Guilfoyle and is considering firing her as U.S. ambassador to Greece, following a series of critical Wall Street Journal articles about her conduct before and after taking the post. The reports described her push for U.S. allies in Eastern Europe to buy American natural gas through Greek firm Aktor Group, her frequent travel with a top Aktor lobbyist, and an alleged request for $100,000 from a Trump donor. Her lawyers denied any wrongdoing, saying the money was payment for speaking engagements and that her travel followed State Department guidance.
- Apple, Nvidia each gave $25M to Trump's White House ballroom — but the president's own name is nowhere on the donor list
A leaked list of donors to the White House ballroom, obtained by The Washington Post, shows $330 million in contributions, including $25 million each from Apple and Nvidia, $22 million from Google out of settlement funds from Trump's lawsuit against YouTube, and $10 million from Microsoft. President Trump is not on the list, even though he had said he would pay for the project himself, and the White House did not say how much he has personally given. The official cost rose from $200 million to $400 million, and a Washington Post investigation estimated $600 million, with taxpayers covering half. Public Citizen argues that donations routed through a nonprofit that allows anonymous giving raise pay-to-play concerns, while Democratic Representatives Jared Huffman and Maxine Dexter demand a full accounting of who paid and what they were promised. The White House called the leak a 'cowardly' act and said it would pursue those responsible.
- President Donald Trump Claims Gasoline Prices Will Drop Like a Rock When the Iran War Ends, but He Completely Missed the Bigger Picture
President Donald Trump has repeatedly said gasoline prices will 'drop like a rock' once the Iran war ends, but the article argues he is overlooking broader inflation. The author says inflation driven by tariffs and the Iran war is becoming entrenched in the U.S. economy, even though the Supreme Court invalidated the tariffs in February 2026. A New York Fed estimate found tariffs had added 2.9 percentage points to consumer goods inflation by February 2026. After the war began on February 28, the closure of the Strait of Hormuz halted about one-fifth of the world's crude oil supply, pushing gas prices up at the fastest pace in 30 years. The author contends energy infrastructure will take months to recover, keeping fuel prices elevated for quarters, and that inflation has spread into the wider economy.
- President Donald Trump Claims Gasoline Prices Will "Drop Like a Rock" When the Iran War Ends, but He's Completely Missed the Bigger Picture
President Donald Trump says gasoline prices will 'drop like a rock' once the Iran war ends, but the article argues he is missing the bigger inflation picture. According to New York Fed economists, Trump's tariffs added 2.9 percentage points to consumer goods inflation by February 2026, and their effects have persisted even though the Supreme Court invalidated them in February 2026. The Iran war, which began on February 28, led to the near-closure of the Strait of Hormuz to most commercial vessels, pushing gas prices up at the fastest pace in 30 years. The author says energy infrastructure will take months to recover, so fuel prices could stay elevated for several quarters after the war ends, and inflation is spreading beyond energy.
- Trump , Like Biden , Has Become a President of Inflation and War
The article argues that President Trump faces mounting pressure from inflation and war ahead of the midterm elections. The last consumer price index report before the vote showed inflation at 3.7 percent, well below the 9.1 percent peak under Biden but still a burden for Republicans. Trump's job approval on the economy stands at 33.8 percent in the RealClearPolitics average, and only 27.2 percent approve of his handling of inflation. The author attributes the biggest driver of recent inflation to an energy price spike caused by the Iran war, which he says Trump chose to start despite warnings about the Strait of Hormuz. Trump argues the inflation is a small price for preventing Iran from getting a nuclear weapon, but the article contends that his party will likely pay the political cost at the polls.
Related markets
Latest news
- Winning over Vingroup and Sun Group with concrete and special materials: Vietnamese company's profit up 136%, chairman speaks out
Song Da Cao Cuong (SCL) reported Q3/2026 profit of VND 38 billion, up 136%, on net revenue of over VND 263 billion (up nearly 98%), while gross profit margin rose from about 36% to 41%. For the first nine months, revenue reached nearly VND 666 billion (up 81%) and after-tax profit nearly VND 94 billion, already exceeding more than 110% of its full-year profit target. Chairman Kieu Van Mat attributed the results to technology upgrades, production line optimization and capacity expansion, with several new plants expected to start operations by November 2026. The company said it spent more than two years testing its products before Vingroup accepted them; Vingroup's share of its business has fallen to about 25% as customers expanded to around 10 major groups and exports began to Laos, Cambodia and the Philippines. Over the past two years, the company has invested about VND 1,000 billion in factories and technology.
- Coteccons Chairman Bolat Duisenov reveals new direction: expanding home construction for individual customers
At the annual general meeting on October 20, Coteccons (HoSE: CTD) set fiscal 2027 targets of VND 42,000 billion in revenue and VND 1,050 billion in after-tax profit, and said it is considering expanding into residential construction for individual customers (B2C). In fiscal 2026, net revenue reached VND 34,340 billion (up 38%, 115% of plan) and after-tax profit VND 788 billion (up 73%); new contract wins totaled VND 60,307 billion and backlog was about VND 70,000 billion. In the first quarter of the new fiscal year, the company booked revenue of VND 11,270 billion and profit of VND 306 billion, but new contract value of VND 14,519 billion was lower than a year earlier; the company said it is tightening criteria for selecting clients and projects. Coteccons is also working with Microsoft, is expected to become a strategic partner of Workday, and targets raising its ROE from 10% to 15-18% by 2030.
- UPS Yields 6.7% After Firing Amazon. Here's Whether the Dividend Survives 2027.
UPS shares yield 6.7% as of October 16. The company has moved away from high-volume, low-margin Amazon deliveries and froze its dividend earlier this year, ending a 16-year streak of increases. The article says the payout will likely remain frozen through 2026 and 2027, citing competition from 10- and 30-year Treasury yields above 5% and other industrial dividend payers, but calls the dividend's safety questionable: UPS generated $5.47 billion in free cash flow in 2025, with $5.4 billion going to dividends, and free cash flow is projected to fall to $5.05 billion in 2026 and $5.01 billion in 2027, with the dividend absorbing about 98% of 2026 free cash flow. Rising competition and high fuel prices add pressure, and the article suggests investors may find more safety in the industrial sector.
- Asian shares mostly decline after AI stocks lead a rebound on Wall Street
Asian shares mostly fell in cautious trading on Tuesday after AI-related stocks rebounded on Wall Street, while other sectors stayed shaky and oil prices stayed high. Japan's Nikkei 225 slipped 0.6% to 64,512.35 in early trading, South Korea's Kospi dropped 2.8%, and Australia's S&P/ASX 200 lost 0.8%. On Wall Street, the S&P 500 rose 0.4% and the Nasdaq gained 1.1%, helped by Nvidia's 1.4% gain, while most stocks outside AI and tech fell and the Dow slipped 0.1%. The 10-year Treasury yield climbed to 5.14%, and U.S. crude rose to $103.50 a barrel and Brent to $109.47, as uncertainty about when the energy industry will return to normal after the war with Iran means oil is unlikely to ease soon.
- Asian shares mostly decline after AI stocks lead a rebound on Wall Street
Asian shares mostly fell in cautious trading Tuesday after AI-related stocks rebounded on Wall Street, while other sectors stayed shaky and oil prices remained high. Japan's Nikkei 225 slipped 0.6% to 64,512.35, Australia's S&P/ASX 200 lost 0.8% to 8,772.10, and South Korea's Kospi dropped 2.8% to 5,605.31. On Wall Street, the S&P 500 rose 0.4% and the Nasdaq rallied 1.1%, helped by Nvidia, while the Dow fell 0.1%. The 10-year Treasury yield climbed to 5.14%, and U.S. crude rose 0.15% to $103.50 a barrel as uncertainty over the war with Iran kept oil prices elevated.
- What Could X-Energy (XE) Gain From Its 960MW Indiana Nuclear Project?
X-Energy (NasdaqGS:XE), American Electric Power and Amazon agreed to assess a 960 MW advanced nuclear project in Indiana using Xe-100 reactors, on a former coal plant site. Under the joint development agreement, Amazon would provide development funding and commit to a long-term power purchase. The article says the deal offers commercial validation for X-Energy's reactor platform rather than immediate financial relief, as the company, with a $4.3b market cap, reported $150.28 million in revenue, a $448.87 million loss, and a 20.2x price-to-sales ratio. The next key milestone is whether the study reaches a final investment decision for the Sullivan County site.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.