Global News Podcast - Trump sacks Federal Reserve Governor

Episode Date: August 26, 2025

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. The Global News Podcast brings you the breaking news you need to hear, as it happens. Listen for the latest headlines and current affairs from around the world. Politics, economics, climate, business, technology, health – we cover it all with expert analysis and insight. Get the news that matters, delivered twice a day on weekdays and daily at weekends, plus special bonus episodes reacting to urgent breaking stories. Follow or subscribe now and never miss a moment. Get in touch: [e-mail]

This BBC podcast is supported by ads outside the UK. Ever feel like car shopping is designed to make your second guess yourself? Is this a good price? Am I making the right choice? With car gurus, you don't have to wonder. They have hundreds of thousands of cars from top-rated dealers and advanced search tools, deal ratings and price history. So you know a great deal when you see one. That's cairg-g-U-R-U-S.ca.cagurus.cagurus.ca.cagurus.ca.

This is the Global News podcast from the BBC World Service. 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 U.S. Federal Reserve. We examine what's at stake for the U.S. and world economy. A day of national protest is taking place in Israel, called by the families of hostages being held in Gaza. A manhunt is underway in Australia after two. police officers were shot dead in Victoria's state. 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. 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. President Trump has dramatically escalated his war with the U.S. 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. 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.

It's the latest twist in what's been a little bit. long-running argument between President Trump and the Fed, with the White House and the bank both at odds over interest rates. Speaking to reporters last week, President Trump was already hinting at his intentions when it came to the governor. You're going to fire Lisa Cook, the Fed governor over her mortgage. You'll fire her if she doesn't resign, yeah. What she did was a bad, so I'll fire her if she doesn't resign. 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, Serenjana Tuari.

Asian markets and currencies are down on this shock dismissal because it's really rattled confidence in the US central bank's independence. This is an unprecedented move and a significant escalation of Trump's attacks on the independence of the US central bank. And we've also heard from Lisa Cook. She issued a statement saying that no cause exists under the the law for Trump to remove her from the job. He has no authority according to her, and she added that she will continue to carry out her duties to help the US economy. 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 primary residence at the same

time. She said she's looking into this, but rejects that that is any cause or that she has committed mortgage fraud. What does this tell us about the Trump administration's relationship with the US central bank? Well, Trump has repeatedly criticized the central bank and its chair Jerome Powell for not cutting short-term interest rates. Powell has so far resisted that pressure, even though the president also threatened to fire him before his term. as chair expires next year. Having said that, Jerome Powell has suggested in the last few days that conditions may warrant interest rate cuts as the Fed proceeds carefully.

And we'll find out more about that in September when the central bank meets for its next monetary policy review. 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, you know, Trump's involvement in an institution that is historically and traditionally kept very, very separate from the powers of government. Surinjana markets are lower amidst this news coming out. Tell us what is at stake here. Yeah, here in Asia, markets really look to the Fed for an indication of what's to come. 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. 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. and a weak dollar is actually not great because it affects investment in the US in the long term. 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.

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. And so a lot of manufacturers, around the world are unsure at what tariff or tax they're going to have to pay on their goods and the markets certainly don't like uncertainty and this just creates even more uncertainty for them. Sarenjana Tawari. A week ago, a US judge ordered the shutdown of the Alligator Alcatraz Migrant Detention Centre in Florida.

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. Josephine Cassily reports from outside the centre. The controversial Alligator Alcatraz Detention Centre was speedily built in eight days on a disused airstrip in the Everglades of protected wetlands in South Florida. The Everglades is not only important because of the incredible flora and fauna in the ecosystem, but it really is... 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. 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. And no environmental impact analysis was done, no public input was sought. She's concerned about the impact of construction on the protected wetlands. And that has impacts on species like the endangered Florida panther, a nocturnal species, and impacts to the Mikasuki tribe,

which has residents who live right near the site are also really concerning. The Mikasuki tribe has joined the lawsuit alongside Eve's organisation. A record number of people are currently being held in immigration detention centres in the US, following President Trump's crackdown on immigration. And new facilities like Alligator Alcatraz are being built to meet these needs. 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. 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. 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. And there's another lawsuit that's challenging this facility. Good morning. How are y'all doing?

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

I'm just running out of tools. I'm running out of tools. I just know Michael's right in there. And I can't meet with him. And to be able to hear from him and for him to know he can speak freely, that is asking for the barest minimum. The Department of Homeland Security

told us that these allegations are false. and that there is a physical space in the facility for legal meetings. 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. 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. 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. 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. 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. I think what you have is people who are here illegally and we're enforcing the laws of our country.

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. Well, you can hear more from Josephine Cassidy at Alligator Alcatraz on the Crossing Continent's podcast. Thousands of protesters have been taking to the streets across Israel, blocking highways, burning tires, and angrily protesting outside the homes of government ministers. It's all part of a nationwide day of action that was announced by the hostages and missing families forum, and it began at 629 in the morning, the time reflecting the start of the Hamas attack on the 7th of October, 2023. 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. Yehudi Cohen is the father of the Israeli hostage Nimrod Cohen. Israel is standing against Netanyahu and his regime. 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. Trump, if he's declaring for ending wars, if he's declaring for releasing hostages, should stand by his word and force Netanyahu to end the war and get a hostage deal. He can do it if he wants.

So what chance of this day of disruption to actually influence the decision-making process inside the Israeli cabinet? I spoke to Yoland Nell, our Middle East correspondent in Jerusalem. They're across much of Israel, particularly concentrated in Tel Aviv. And since early in the morning, the families of the hostages and tens of thousands of their supporters, they say, have been holding these demonstrations. And 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. They've been blocking the main roads, particularly from Tel Aviv to Jerusalem. So it's been very visible and caused disruption for morning commuters. They've also been outside the homes of some government

ministers. And they're planning another big rally in Tel Aviv this evening. And Yeland, will they have any impact? 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. Polls suggest that most Israelis do support a ceasefire deal that will bring back the remaining hostages. There are 50 who are held in Gaza by Palestinian armed groups, 20 of whom are believed to be alive. But 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. 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.

The Israeli security cabinet is set to meet later, but this is not supposed to be on their agenda. 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, now only approve a comprehensive one, which would free all the hostages in one go and end the war on Israel's terms. 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. And, Your Land, we've continued to hear more testimony of that double strike occurring at the NASA Hospital in Gaza. How is that playing out in Israel? Well, I mean, it's now clear what the events were that Israel struck

this hospital, not the 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. The Israeli Prime Minister Benjamin Netanyahu's calling this a tragic mishap, who said the military's investigating. 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. This is a rooftop where live TV shots had been set up at that location. Yolanel in Jerusalem. 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. South Africa imported the most, but Nigeria and Algeria also saw big increases. Our climate editor Justin Rowlatt reports. The data reveals some striking increases in South. solar panel imports. Algeria saw a 33-fold rise, while Zambia's imports increased eightfold and Botswana's sevenfold. Many other countries more than triple-bear imports. Ember says the surge could transform electricity generation in some African countries. 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. In Chad, the figure would be nearly 50%, and five other countries could see electricity generation rise by more than 10%. Ember describes the surge as a pivotal moment for Africa's energy future, but cautions that the boom is still in its early days. Justin Rowlat. Still to come. I'm very old now. I'm 80 years. old. And I also think it's time that I have to rest, leave everything to the young ones. We hear from the renowned Zimbabwean musician Thomas Mapfumo, who's retiring from the stage.

after two police officers were shot dead and one seriously wounded. 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 Poripunker in what's known as the Australian Alps, northeast of Melbourne. The Victoria Chief Commissioner is Mike Bush. Firstly, I want to acknowledge our fine and brave officers that lost their lives today in the line of duty. One of those officers was a 59. nine-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. We have deployed every specialist resource into this area to locate him. Our reporter Simon Atkinson has the details. 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. 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. And police have said the fact so many officers had gone to the address shows that they knew there was some risk. 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. 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, 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. 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. They're urging the suspect to give himself up.

Simon Atkinson. 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. 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. ASEO now assesses the Iranian government directed at least two and likely more attacks on Jewish interests in Australia.

Our painstaking investigation uncovered and unpicked the links between the alleged crimes and the commanders in Iran's Islamic Revolutionally Guard Corps, the IRGC. The IRGC used a complex web of proxies to hide its involvement. Karin Janoni spoke to our correspondent Phil Messer in Sydney. Australia believes that organised criminals. gangs overseas and criminal networks here in Australia could have been involved in this plot organised allegedly by Iran. 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.

While you're speaking, Phil, we're watching a briefing by the Iranian Foreign Ministry. 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. 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. All the diplomatic staff over there have been moved to another country. And Australia would have been expecting some sort of tip-for-tat action by Iran. It is worth noting, too, that ASEO believes that the two attacks that they've identified is a minimum that there could be others.

Phil Mercer speaking to Karin Janoni. With climate change enabling the spread, of new and unpredictable diseases, the ability to track how infection spread is more important than ever. There are hopes that a new mosquito observatory network could provide a massive step forward for disease surveillance in Africa. 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. Its principal investigator, Professor Fredros Okumu, told James Copnell more about the project. This is the first major mosquito observatory or rather observatory of mosquitoes and mosquito-borne diseases in Africa.

I think it helps to begin by saying that Africa is facing an increasing burden or increasing danger of mosquitoes and mosquito-borne diseases. 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. You know, you have other mosquito-borne diseases like chikungunya virus, yellow fever. 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. And so the purpose of Vectogrid 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. and we're working with partners in five African countries to begin this initiative. Yeah, so those countries, Tanzania, Kenya, Mozambique, South Africa and Madagascar, 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? Correct. The idea is eventually to expand this across the entire continent in the future. And what's the best case scenario? How do you think this could really help?

In many, many ways. So you were mentioning earlier that we have the challenge with the climate warming, which means that, you know, we've seen data at the moment suggesting that mosquitoes are spreading very fast in the continent. 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. 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.

So we have, for example, 80s albipetas, the Asian tiger mosquito that is coming to Africa is spreading very fast. The problem with this is that these are new challenges that African countries are not used to dealing with. We need first to be able to track these challenges, provide this data to the authorities so that they are better able to prevent the disaster. Professor Fredros Okumu speaking to James Cobnell. At a ceremony in Paris, France has formally returned the head of a Madagascan king,

killed by French troops during a colonial era war. The skull of King Tauera 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. 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 Tuera was killed and decapitated. His head sent to Paris where it was placed in the archives of the Museum of Natural History. 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. It's not the first time human remains from the colonial era have been given back by France. 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. But this is the first return under a recent law which makes the process much easier. 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. Hugh Schofield. The legendary Zimbabwean musician Thomas Mapfumo is retiring after a remarkable career that spanned more than five years. decades. Matt 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. Sophie Smith reports. It's the end of an era in African music. On Sunday, Thomas Mukunia Mufumo took his final in the UK as he retires from a career that spanned more than five decades. It's a disappointment for many, but the line of Zimbabwe said the time had come. It's about your age. I'm very old now. I'm 80 years old. And I also think it's time that I have to rest. I have to rest and leave everything to the young ones. Thomas Mapfumo's music was the soundtrack during the fight for independence in Zimbabwe. He was the pioneer of Chimarenga music named after the Shona word for revolutionary struggle,

which fuelled the country's fight for freedom from the Rhodesian regime in the 1970s. 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. 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. So we need to stand by the people who are suffering and we support them as musicians. But Mufumo has paid the price for his struggle.

Over the course of his life, he's been detained without charge, banned by state-owned media, forced into exile by the Mugabe regime, living for 14 years in the US. So why has he done it? It's very, very important for me, because I have to stand with the people who are suffering. 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.

His work has earned him many titles, including the line of Zimbabwe, and McCunia, the praise name for his Shona people. It's also earned him global success through touring with his band, The Blacks Unlimited. Sophie Smith, reporting. 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. The address is Global Podcast at bbc.co.uk. You can also find us on X at BBC.com.

World Service, use the hashtag Global NewsPod. This edition was mixed by Resenwin-Dorrell and the producers were Judy Frankel and Tracy Gordon. The editor is Karen Martin. I'm Julia McFarlane. Until next time, goodbye.