International News
Trump Raises Pressure On Central Bank, Calls For Fed Governor To Resign
President Donald Trump ramped up pressure on the US central bank on Wednesday, calling for Federal Reserve Governor Lisa Cook to step down — after his recent criticism of Fed Chair Jerome Powell for not lowering interest rates sooner.
“Cook must resign, now!!!” Trump wrote on his Truth Social platform, while sharing a Bloomberg news report on how the Federal Housing Finance Agency’s director has called for greater scrutiny of Cook over a pair of mortgages.
FHFA director Bill Pulte — a staunch ally of Trump — had reportedly written a letter to the US attorney general calling for an investigation of Cook while suggesting that she might have committed a criminal offense.
The Trump administration has pursued allegations of mortgage fraud against high-profile Democrats who are seen as political adversaries of the president.
It was not immediately clear if such a probe would take place targeting Cook, the first Black woman to serve on the central bank’s board.
The president is also limited in his ability to remove officials from the central bank.
A Supreme Court order recently suggested that Fed officials cannot be taken out of their jobs over policy disagreements, meaning they have to be removed for “cause,” which could be interpreted to mean wrongdoing.
‘A disaster’
The US leader’s targeting of Cook, who sits on the Fed’s rate-setting committee, comes after his repeated broadsides against Powell while the central bank kept the benchmark lending rate unchanged this year.
On Tuesday night, Trump again called for a “major rate cut,” saying there was “no inflation” and claiming that the Fed’s policymaking was harming the housing industry due to elevated mortgage rates.
He called Powell “a disaster” in a social media post.
Although the US consumer price index, a key inflation gauge, was steady at 2.7 percent in July, it remains higher than it was a few months earlier.
Fed officials have been trying to ensure inflation is kept in check — despite the effects of Trump’s sweeping tariffs — while balancing risks to the labor market as they mull the right time for further rate cuts.
Cook took office as a Fed governor in May 2022 and was reappointed to the board in September 2023. She was sworn in later that same month for a term ending in 2038.
She has previously served on the Council of Economic Advisers under former President Barack Obama.
Earlier this year, Trump suggested that what he called an overly costly renovation of the Fed’s headquarters could be a reason to oust Powell, before backing off the threat.
Powell’s term as Fed chair ends in May 2026.
Jeremy Doku insisted Manchester “will keep on fighting” in the Premier League title race despite their “painful” draw with Everton on Monday.
City drew 3-3 with the Toffees at Hill Dickinson Stadium, with Doku scoring a 97th-minute equaliser, having also scored the opening goal.
Doku’s equaliser (96:49) is City’s third-latest goal on record (since 2006-07) in a Premier League game after John Stones’ strike against Arsenal in September 2024 (97:14) and Gabriel Jesus’ goal against Everton in February 2019 (96:52).
Doku has had a hand in six goals across his last five games for City in all competitions (four goals, two assists), as many as in his previous 22 games combined (one goal, five assists).
The Belgian also created the most chances in the match against Everton (four), completed the most dribbles (5/7) and won the most duels (14/19).
City avoided defeat in a Premier League game despite trailing by 2+ goals as late as the 82nd minute for the first time since March 2012 against Sunderland (3-3).
They went on to win the league title in 2011-12, and Doku believes City can still beat Arsenal to the trophy this season.
“First half, we played well and created a lot of chances. We know if we don’t score those chances, it is going to get difficult at the end,” said Doku.
“Obviously, they are at their own stadium, they create chances, and they are dangerous, and they scored two goals, but I think we gave them the game.
“Good that we came back because one point is not bad in games like this.
“We will see. It feels painful now. There is still a lot of games to go. We lost two points, but we know that one point can be important at the end.
“We will keep on fighting. We owe it to ourselves and to our fans.”
The Ministry of Foreign Affairs said Nigerians interested in repatriation from South Africa will be responsible for the cost of their return trip to Nigeria.
The ministry’s spokesperson, Kimiebi Ebienfa, stated this during a press briefing on Monday in Abuja.
The briefing came shortly after a closed-door meeting between the Ministry’s Permanent Secretary, Dunoma Ahmed, and the South African Acting High Commissioner, Lesoli Machele.
Mr Ebienfa said the process will be self-funded and not state-funded, as it is a voluntary decision that the Nigerian government will only facilitate and coordinate.
In the recent past, such reparations have been sponsored by Nigerian airline owners, particularly Allen Onyema, the CEO of Air Peace.
The Nigerian government, on Sunday, indicated its readiness to repatriate its citizens from South Africa due to xenophobic violence.
The effort primarily targets Nigerians who feel threatened by the xenophobic violence and tension in parts of South Africa, as the protests against black immigrants in the country continue. Two Nigerians were killed last month.
Since the announcement, about 130 Nigerians in South Africa have expressed a willingness to return home voluntarily.
Mr Ebienfa stated that the return of the Nigerians depends on their financial capacity, as they would be expected to fund their trip back home individually.
He said, “Those willing to leave are expected to approach the high commission and, given that their decision is voluntary, have the resources to fund their return to Nigeria.”
The government will not “provide an aircraft from Nigeria to convey them.”
He also noted that the speed of the repatriation process will be determined by the availability of funds.
“Yes, 130 as of this morning have registered, but actualisation would be required to have their flight ticket to move back to Nigeria.”
Mr Ebienfa also explained that Nigerians who have so far expressed interest are motivated either by concerns about threats to their lives or by fear of arrest by South African law enforcement agencies.
“There are two groups of Nigerians who want to come back. One group feels the country is not safe for them and wants to come. They have all their papers intact.
“Then there is also the second group that has travel document violations or resident permit violations. And instead of running away from law enforcement, they are appealing that the government facilitate their movement back to Nigeria,” he explained.
However, he noted that the process is still being worked out and that the government would step in to provide aircraft or other needed assistance if tensions rise and the situation becomes more volatile.
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