Trump sacks Federal Reserve Governor

27m

Donald Trump has ordered the removal of a Federal Reserve governor, as he steps up attempts to exert control over the US central bank. Mr Trump accused Lisa Cook of making false statements on mortgage agreements. Ms Cook said the president had no authority to remove her from her post and promised to keep carrying out her duties. Also: a day of national protest in Israel, called by the families of hostages held in Gaza; Africa's reliance on imported fossil fuels could be on the verge of a transition as a record number of solar panels were imported by countries on the continent; and the legendary Zimbabwean musician Thomas Mapfumo is retiring after a remarkable career that spanned more than five decades.

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Runtime: 27m

Transcript

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Speaker 4 This is the Global News Podcast from the BBC World Service.

Speaker 4 I'm Julia McFarlane, and at 13 hours GMT on Tuesday, the 26th of August, these are our main stories. President Trump declares war on the US Federal Reserve.

Speaker 4 We examine what's at stake for the US and world economy. A day of national protest is taking place in Israel, called by the families of hostages being held in Gaza.

Speaker 4 A manhunt is underway in Australia after two police officers were shot dead in Victoria State.

Speaker 4 Also in this podcast, countries around the world are teaming up for a new global network on mosquitoes as climate change fuels new and unpredictable diseases.

Speaker 5 Mosquitoes are occupying areas where they were not found before, and with this, you start to have new challenges. These are new challenges that African countries are not used to dealing with.

Speaker 4 President Trump has dramatically escalated his war with the U.S.

Speaker 4 Federal Reserve, announcing that he's sacking its governor, Lisa Cook, claiming that she had falsified records in order to obtain favorable terms on a mortgage.

Speaker 4 The bombshell news, which came late on Monday night, resulted in a slump in the markets as investors priced in fears for the independence of America's central bank.

Speaker 4 It's the latest twist in what's been a long-running argument between President Trump and the Fed, with the White House and the bank both at odds over interest rates.

Speaker 4 Speaking to reporters last week, President Trump was already hinting at his intentions when it came to the governor.

Speaker 6 Are you going to fire Lisa Cook, the Fed governor, over her money?

Speaker 8 What she did was her bad. So I'll fire her if she doesn't resign.

Speaker 4 Well, for more on what this means for the U.S. consumer, for the dollar, and for the global financial system, I spoke to our business presenter, Suranjana Tiwari.

Speaker 9 Asian markets and currencies are down on this shock dismissal because it's really rattled confidence in the U.S. central bank's independence.

Speaker 9 This is an unprecedented move and a significant escalation of Trump's attacks on the independence of the U.S. central bank.
And we've also heard from from Lisa Cook.

Speaker 9 She issued a statement saying that no cause exists under the law for Trump to remove her from the job. He has no authority according to her.

Speaker 9 And she added that she will continue to carry out her duties to help the US economy.

Speaker 9 Now, the Trump administration claims that Lisa Cook, who was nominated by former President Joe Biden in 2022, committed mortgage fraud by allegedly naming two different properties as her her primary residence at the same time.

Speaker 9 She said she's looking into this but rejects that that is any cause or that she has committed mortgage fraud.

Speaker 4 What does this tell us about the Trump administration's relationship with the U.S. Central Bank?

Speaker 9 Well, Trump has repeatedly criticised the central bank and its chair, Jerome Powell, for not cutting short-term interest rates.

Speaker 9 Powell has so far resisted that pressure, even though the president also threatened to fire him before his term as chair expires next year.

Speaker 9 Having said that, Jerome Powell has suggested in the last few days that conditions may warrant interest rate cuts as the Fed proceeds carefully.

Speaker 9 And we'll find out more about that in September when the central bank meets for its next monetary policy review.

Speaker 9 But yes, lots of questions, not just about the legality of whether a president actually has the authority to fire a Fed governor, but also Trump's involvement in an institution that is historically and traditionally kept very, very separate from the powers of government.

Speaker 4 Surinjana, markets are lower amidst this news coming out. Tell us, what is at stake here?

Speaker 9 Yeah, here in Asia, markets really look to the Fed for an indication of what's to come.

Speaker 9 So in terms of interest rates, because higher interest rates mean it's harder for businesses to be able to expand and grow and take on new staff and new orders. And the other issue is the dollar.

Speaker 9 Now, we've seen that the dollar has weakened as a result of this move because markets are frankly very rattled and investors think that the US Central Bank is no longer as independent as it can be.

Speaker 9 And a weak dollar is actually not great because it means it affects investment in the US in the long term.

Speaker 9 It also affects how much American businesses can do business over here because a weaker dollar means they can buy less things and they can import less things into the US.

Speaker 9 And the other really important thing as well is confidence. Remember, President Trump has come into office and he has created tariff chaos with his policies on trade.

Speaker 9 And so a lot of manufacturers around the world are unsure what tariff or tax they're going to have to pay on their goods.

Speaker 9 And the markets certainly don't like uncertainty and this just creates even more uncertainty for them.

Speaker 4 Surinjana Tiwari.

Speaker 4 A week ago, a US judge ordered the shutdown of the Alligator Alcatraz Migrant Detention Center in Florida.

Speaker 4 This controversial facility has been the subject of multiple lawsuits since it opened at the end of June in the Everglades swampland, an area famous for its alligators.

Speaker 4 Josephine Casaly reports from outside the centre.

Speaker 10 The controversial Alligator Alcatraz detention center was speedily built in eight days on a disused airstrip in the Everglades, a protected wetlands in South Florida.

Speaker 11 The Everglades is not only important because of the incredible flora and fauna in the ecosystem, but it really is.

Speaker 10 Eve Samples is the executive director of environmental group Friends of the Everglades. They're suing the Trump administration over the construction of the facility.

Speaker 11 The state and federal government disregarded a very common sense law that requires our government to look before it leaps to make sure that its actions aren't causing environmental harm.

Speaker 11 And no environmental impact analysis was done, no public input was sought.

Speaker 10 She's concerned about the impact of construction on the protected wetlands.

Speaker 11 And that has impacts on species like the endangered Florida panther, a nocturnal species, and impacts to the Miccosukee tribe, which has residents who live right near the site, are also really concerning.

Speaker 10 The Miccosukee tribe has joined the lawsuit alongside Eve's organization.

Speaker 10 A record number of people are currently being held in immigration immigration detention centers in the US following President Trump's crackdown on immigration.

Speaker 10 And new facilities like Alligator Alcatraz are being built to meet these needs.

Speaker 11 So there's no exemption under a state of emergency for the environmental impact analysis that's required by law. We're clear on that.

Speaker 10 Last week, the judge in this case ruled that the facility must be dismantled and no more migrants should be taken there. The judge's ruling is preliminary.

Speaker 10 The case brought by environmental groups will continue to be heard before the final decision is made. And the state of Florida has already filed an appeal.

Speaker 10 And there's another lawsuit that's challenging this facility.

Speaker 12 Good morning. Good morning.

Speaker 6 How y'all doing? I'm good.

Speaker 12 I'm here for a legal visit. I submitted my credentials the day before yesterday.
You're an attorney? As an attorney, yeah.

Speaker 10 Mitch Gonzalez is an immigration lawyer. We accompanied him last month as he attempted to visit his client Michael inside the center.
I'm not sure if we're having any visitors come in today.

Speaker 12 This is the first time this has ever happened to me. I've been doing this over a decade and at every other detention facility, I can just go in the day of with my legal credentials and meet my client.

Speaker 10 Mitch's organization, Sanctuary of the South, alongside other legal groups, is suing the Trump administration because they claim that without access to confidential in-person legal visits, the rights of the people in Alligator Alcatraz are being violated.

Speaker 12 I'm just running out of tools. I'm running out of tools.
I just know Michael's right in there.

Speaker 12 And I can't meet with him.

Speaker 12 And to be able to hear from him and for him to know he can speak freely, that is asking for the barest minimum.

Speaker 10 The Department for Homeland Security told us that these allegations are false and that there is a physical space in the facility for legal meetings.

Speaker 10 I have spoken to one lawyer who's been allowed into the centre, but she told me that there were guards in the room during her interview and a camera. The lawsuit is ongoing.

Speaker 10 Alligator Alcatraz has become a lightning rod for fierce debates around immigration in the US. As well as critics, it has many supporters.
Evan Power is the chair of the Florida Republican Party.

Speaker 10 To give you a few examples of some people who have been in Alligator Alcatraz or are still there, there was a 15-year-old boy there with no criminal record.

Speaker 10 There's been a Cuban asylum seeker there with no criminal record. None of those people seem to fit the profile that you're talking about.

Speaker 13 Well, they're here illegally. You also have people who are sexual predators who have been caught.
You have people who've committed murder in other countries that were sent to Alligator Alcatraz.

Speaker 13 I think what you have is people who are here illegally and we're enforcing the laws of our country.

Speaker 4 The Florida authorities have appealed against the preliminary ruling, arguing that because the facility is operated by a state agency, it shouldn't be subject to federal law.

Speaker 4 Well, you can hear more from Josephine Cassley at Alligator Alcatraz on the Crossing Continents podcast.

Speaker 4 Thousands of protesters have been taking to the streets across Israel, blocking highways, burning tyres, and angrily protesting outside the homes of government ministers.

Speaker 4 It's all part of a nationwide day of action that was announced by the Hostages and Missing Families Forum, and it began at 6.29 in the morning, the time reflecting the start of the Hamas attack on the 7th of October, 2023.

Speaker 4 They are calling on Prime Minister Netanyahu to reach an agreement with Hamas to end the war and release the hostages. Many are now also calling on President Donald Trump to intervene.

Speaker 4 Yehudi Cohen is the father of the Israeli hostage Nimrod Cohen.

Speaker 14 Israel is standing against Netanyahu and his regime.

Speaker 14 Another day for protest, another day to make sure the issue of the hostages stays in high priority, another day to pressure Netanyahu and force him. to end the war and get a hostage deal.

Speaker 14 Trump, if he's declaring for ending wars, if he's declaring for releasing hostages,

Speaker 14 should stand by his word and force Netanyahu to end the war and get a hostage deal. He can do it if he wants.

Speaker 4 So what chance of this day of disruption to actually influence the decision-making process inside the Israeli cabinet? I spoke to Yolan Nell, our Middle East correspondent in Jerusalem.

Speaker 15 They're across much of Israel, particularly concentrated in Tel Aviv.

Speaker 15 And since early in the morning, the families of the the hostages and tens of thousands of their supporters, they say, have been holding these demonstrations.

Speaker 15 They unfold a huge banner in front of the US Embassy in Tel Aviv with pictures of all 50 remaining hostages laid out on a large Israeli flag.

Speaker 15 They've been blocking the main roads, particularly from Tel Aviv to Jerusalem, so been very visible and caused disruption for morning commuters.

Speaker 15 They've also been outside the homes of some government ministers, and they're planning another big rally in Tel Aviv this evening.

Speaker 4 And Yoland, will they have any impact?

Speaker 15 These protests do seem to have kind of picked up momentum in recent weeks out of really the sense of despair among the hostage families.

Speaker 15 Polls suggest that most Israelis do support a ceasefire deal that will bring back the remaining hostages.

Speaker 15 There are 50 who are held in Gaza by Palestinian armed groups, 20 of whom are believed to be alive.

Speaker 15 But you know, they're really pleading to President Trump to try to help bring a deal to bring their loved ones back, seeing him as the key figure here.

Speaker 15 Israel's government has indicated really that it's not going to discuss the latest ceasefire proposal for a 60-day truce and the return of half the remaining hostages, both dead and alive.

Speaker 15 The Israeli Security Cabinet is set to meet later, but this is not supposed to be on their agenda.

Speaker 15 Hamas agreed to this plan from regional mediators Qatar and Egypt at the start of last week, but the Israeli government has said that having previously agreed to such a deal, it will now only approve a comprehensive one which would free all the hostages in one go and end the war on Israel's terms.

Speaker 15 And we also had the Prime Minister Benjamin Netanyahu saying late last week that he would send Israeli negotiators immediately, he said, to join a new round of talks via mediators, but that still hasn't happened now.

Speaker 4 Andyoland, we've continued to hear more testimony of that double strike occurring at the Nasser Hospital in Gaza. How is that playing out in Israel?

Speaker 15 Well, I mean, it's now clear what the events were: that Israel struck this hospital, Nassau Hospital, it's the main hospital for the south of the Gaza Strip yesterday morning, and then it hit it again as journalists and rescue workers were rushing to the scene.

Speaker 15 The Israeli Prime Minister Benjamin Netanyahu is calling this a tragic mishap. He said the military is is investigating.

Speaker 15 The Israeli media is saying that these were two artillery shells and they were targeting what they suspected was a Hamas surveillance camera on the roof.

Speaker 15 This is a rooftop where live TV shots had been set up at that location.

Speaker 4 Yolanel in Jerusalem.

Speaker 4 Africa's reliance on imported fossil fuels could be on the verge of a transition, as a record number of solar panels were imported by countries on the continent.

Speaker 4 South Africa imported the most, but Nigeria and Algeria also saw big increases. Our climate editor Justin Rolatt reports.

Speaker 16 The data reveals some striking increases in solar panel imports. Algeria saw a 33-fold rise, while Zambia's imports increased eight-fold and Botswana's seven-fold.

Speaker 16 Many other countries more than tripled their imports. EMBA says the surge could transform electricity generation in some African countries.

Speaker 16 It estimates that if all its newly imported panels were installed, Sierra Leone could generate more than 60% of its 2023 electricity output from solar.

Speaker 16 In Chad, the figure would be nearly 50%, and five other countries could see electricity generation rise by more than 10%.

Speaker 16 Ember describes the surge as a pivotal moment for Africa's energy future, but cautions that the boom is still in its early days.

Speaker 4 Justin Rowlatt.

Speaker 4 Still to come.

Speaker 7 I'm very old now. I'm 80 years old.

Speaker 7 And I also think it's time that I have to rest, leave everything to the young ones.

Speaker 4 We hear from the renowned Zimbabwean musician Thomas Mapfumo, who's retiring from the stage.

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Speaker 4 As we record this podcast, a manhunt is underway in the Australian state of Victoria after two police officers were shot dead and one seriously wounded.

Speaker 4 The officers were attacked as a group of them attended a property to serve an arrest warrant to a man living in the small rural town of Poropunka, in what's known as the Australian Alps, northeast of Melbourne.

Speaker 4 The Victoria Chief Commissioner is Mike Bush.

Speaker 19 Firstly, I want to acknowledge our fine and brave officers that lost their lives today in the line of duty.

Speaker 19 One of those officers was a 59-year-old detective, the other officer, a 35-year-old senior constable. The suspect for this horrific event is still at large.
We believe he is armed.

Speaker 19 We have deployed every specialist resource into this area to locate him.

Speaker 4 Our reporter Simon Atkinson has the details.

Speaker 6 Police have called this a killing in cold blood and they say the suspect is heavily armed. Locals living in the area are being told to stay indoors.

Speaker 6 What we know about this incident is that the two officers who were killed were in a group of 10 who'd gone to this semi-rural property to execute an arrest warrant.

Speaker 6 And police have said the fact so many officers had gone to the address shows that they knew there was some risk.

Speaker 6 The Australian Prime Minister Anthony Albanese this evening has sent his thoughts to those affected. The state's police authority has also said that this is the senseless murder of our mates.

Speaker 6 Now there is a lot of shock in Australia at this incident. Gun crime here is fairly rare.
There are very strict regulations around gun ownership.

Speaker 6 but it is harking back to an incident in 2022 when three police officers in Queensland were killed after they were ambushed after attending a property.

Speaker 6 Tonight in Australia, in Victoria, the police are trying to find this suspect and they've said they have deployed heavily in order to bring this to a peaceful conclusion.

Speaker 6 They're urging the suspect to give himself up.

Speaker 4 Simon Atkinson.

Speaker 4 Staying in Australia, the country has expelled Iran's ambassador after accusing Tehran of orchestrating at least two anti-Semitic attacks in Melbourne and Sydney.

Speaker 4 It's the first time since the Second World War that Australia has expelled an ambassador. Here's Mike Burgess, the head of the Australian Geospatial Intelligence Organisation.

Speaker 20 ASIO now assesses the Iranian government directed at least two and likely more attacks on Jewish interests in Australia.

Speaker 20 Our painstaking investigation uncovered and unpicked the links between the alleged crimes and the commanders in Iran's Islamic Revolutionary Guard Corps, the IRGC.

Speaker 20 The IRGC used a complex web of proxies to hide its involvement.

Speaker 4 Karin Giannoni spoke to our correspondent Phil Mercer in Sydney.

Speaker 21 Australia believes that organised criminal gangs overseas and criminal networks here in Australia could have been involved in this plot organised allegedly by Iran.

Speaker 21 And as the authorities here in Australia believe, that at least two anti-Semitic attacks have been plotted by Iranian authorities at a restaurant, a popular restaurant near Sydney's Bondi Beach in October of last year, and also a synagogue in Melbourne.

Speaker 22 While you're speaking, Phil, we're watching a briefing by the Iranian Foreign Ministry.

Speaker 22 The lines emerging from that is that Iran says the decision to expel their ambassador was motivated by internal Australian affairs, and Iran has vowed reciprocal action.

Speaker 21 Not surprising, this is a very serious diplomatic dispute between Australia and Iran that, as you've indicated, is only going to get worse. So, we know that Australia is closing its embassy in Tehran.

Speaker 21 All the diplomatic staff over there have been moved to another country. And Australia would have been expecting some sort of tit-for-tat action by Iran.

Speaker 21 It is worth noting, too, that ASIO believes that the two attacks that they've identified is a minimum, that there could be others.

Speaker 4 Phil Mercer, speaking to Karin Gianoni. With climate change enabling the spread of new and unpredictable diseases, the ability to track how infections spread is more important than ever.

Speaker 4 There are hopes that a new mosquito observatory network could provide a massive step forward for disease surveillance in Africa.

Speaker 4 A new initiative launching today called Vector Grid Africa is backed by the EU and is led by scientists from the University of Glasgow and its African partners.

Speaker 4 Its principal investigator, Professor Fredros Ukumu, told James Copnell more about the project.

Speaker 5 This is the first major mosquito observatory or rather observatory of mosquitoes and mosquito-borne diseases in Africa.

Speaker 5 I think it's it helps to begin by saying that Africa is facing an increasing burden or increasing danger of mosquitoes and mosquito-borne diseases.

Speaker 5 Most people have heard about malaria, but we actually also now, with the challenges associated with climate change, we're starting to experience a lot of dengue fever, for example.

Speaker 5 You know, you have other mosquito-borne diseases like chikungunya virus, yellow fever.

Speaker 5 And the challenge we have in many of these countries is that we just do not have any data on how these diseases are spread, where they are spread, how much of it is happening.

Speaker 5 And so the purpose of VetoGrid Africa is really to lay this platform, this long-term platform that is going to help track the mosquito spread and also the diseases that they spread over long periods of time across several countries.

Speaker 5 And we're working with the partners in five African countries to begin this initiative.

Speaker 23 Yeah, so those countries, Tanzania, Kenya, Mozambique, South Africa and Madagascar.

Speaker 23 Does that mean that the data will help those countries or is it something that is at some point going to be expanded beyond those five?

Speaker 5 Correct. The idea is eventually to expand this across the entire continent.

Speaker 5 in the future.

Speaker 23 And what's the best case scenario? How do you think this could really help?

Speaker 5 In many, many ways. So you were mentioning earlier that we have the challenge with the climate warming, which means that, you know,

Speaker 5 we've seen data at the moment suggesting that mosquitoes are spreading very fast in the continent.

Speaker 5 We have about seven kilometers of spread southwards every year and about five, six meters of spread in the higher altitude areas. So mosquitoes are occupying areas where they were not found before.

Speaker 5 And with this, you start to have new challenges. The other thing that's happening is we have mosquitoes that are invading Africa, mosquitoes that are indigenously not African.

Speaker 5 So, we have, for example, Aedes albopictus, the Asian tiger mosquito, that is coming to Africa and is spreading very fast.

Speaker 5 The problem with this is that these are new challenges that African countries are not used to dealing with.

Speaker 5 We need fast to be able to track these challenges, provide this data to the authorities so that they are better able to prevent the disaster.

Speaker 4 Professor Fredros Okumu speaking to James Cobnell.

Speaker 4 At a ceremony in Paris, France has formally returned the head of a Madagascan king killed by French troops during a colonial era war.

Speaker 4 The skull of King Touera and those of two other members of his court were taken to Paris at the end of the 19th century and stored in a museum. Hugh Schofield reports now from the French capital.

Speaker 24 On this day, in 1897, a French force sent to assert colonial control over the Menabi kingdom in western Madagascar massacred a local army. King Touera was killed and decapitated.

Speaker 24 His head sent to Paris, where it was placed in the archives of the Museum of Natural History.

Speaker 24 Nearly 130 years later, pressure from the king's descendants, as well as the Madagascan government, has opened the way for the skull's return.

Speaker 24 It's not the first time human remains from the colonial era have been given back by France.

Speaker 24 Most famous was the South African woman, cruelly nicknamed the hot-and-tot Venus, who'd once been put on display in Europe and whose body was taken home in 2012.

Speaker 24 But this is the first return under a recent law which makes the process much easier.

Speaker 24 It's estimated that at the Museum of Natural History alone, there are more than 20,000 human remains brought to France from around the world for supposedly scientific reasons.

Speaker 4 Hugh Schofield. The legendary Zimbabwean musician Thomas Mapfumo is retiring after a remarkable career that spanned more than five decades.

Speaker 4 Map Fumo has become a symbol of cultural pride after using his voice to challenge colonial rule, expose corruption, and speak truth to power for Zimbabweans at home and in the diaspora.

Speaker 4 Sophie Smith reports.

Speaker 25 It's the end of an era in African music. On Sunday, Thomas McCunho McFumo took his final bow in the UK as he retires from a career that spanned more than five decades.

Speaker 25 It's a disappointment for many, but the lion of Zimbabwe said the time had come.

Speaker 7 It's about your age. I'm very old now.
I'm 80 years old

Speaker 7 and I also think it's time that I have to rest. I have to rest and leave everything to the young ones.

Speaker 25 Thomas Map Fumo's music was the soundtrack during the fight for independence in Zimbabwe.

Speaker 25 He was a pioneer of chimarenga music named after the Shona word for revolutionary struggle, which fueled the country's fight for freedom from the Rhodesian regime in the 1970s.

Speaker 25 Since then, he's continued to speak out for social justice, criticising successive governments for corruption and chaos in the country. Now, he says he has to make a space for the next generation.

Speaker 7 The most important for the young ones is they should actually fight for the people, fight for the people's rights, because as you can see today in Zimbabwe, everything is just chaos.

Speaker 7 So we need to stand by the people who are suffering and we support them as musicians.

Speaker 25 But Mfumo has paid the price for his struggle.

Speaker 25 Over the course of his life, he's been detained without charge, banned by state-owned media, and forced into exile by the Mugabe regime, living for 14 years in the US. So why has he done it?

Speaker 7 It's very, very important for me because I have to stand with the people who are suffering.

Speaker 7 You understand when our country, our people went to war fighting for liberation, and today those people are not liberated at all. We are not free.
We have to keep on fighting.

Speaker 25 His work has earned him many titles, including The Lion of Zimbabwe and Makunya, the praise name for his Shona people.

Speaker 25 It's also earned him global success through touring with his band, The Blacks Unlimited.

Speaker 4 Sophie Smith reporting.

Speaker 4 And that's all from us for now, but there will be a new edition of the Global News Podcast later. If you want to comment on this podcast or any of the topics covered in it, you can send us an email.

Speaker 4 The address is globalpodcast at bbc.co.uk. You can also find us on X at BBC World Service.
Use the hashtag globalnewspod.

Speaker 4 This edition was mixed by Rezenwyn Durrell and the producers were Judy Frankel and Tracy Gordon. The editor is Karen Martin.
I'm Julia McFarlane. Until next time, goodbye.

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