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Trump Raises Pressure On Central Bank, Calls For Fed Governor To Resign

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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.

International News

Nottingham Forest Sacks 5th Manager In 10 Months, To Wrap Up Oliver Glasner’s Deal

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Oliver Glasner is in advanced talks to replace Vitor Pereira as Nottingham Forest head coach, a move which would see the Austrian become the club’s fifth manager in less than a year.

 

Pereira announced his departure from the club in a statement on Wednesday, saying that it came as a “complete surprise to me and without any warning”.

Glasner is a free agent after leaving Crystal Palace — where he won the FA Cup in 2024-25 and then the Community Shield and Conference League the following campaign — and is set to stay in the Premier League.

The 51-year-old confirmed in January that he would leave Palace at the end of the season after two years in charge.

On Thursday, Forest confirmed Pereira’s coaching staff Filipe Almeida, Luis Miguel, Bruno Moura, Marco Knoop and Pedro Lopes had all left the club alongside the head coach.

Pereira, 57, was appointed Forest head coach in February on an 18-month contract which runs until 2027.

The Athletic reported in May Forest had been planning to show their faith in Pereira by handing the head coach a new long-term contract, but those talks were subsequently put on hold.

“Today marks the end of my journey as head coach of Nottingham Forest,” he said in his statement.

“I want to say a sincere thank you to everyone connected with this incredible football club. Although this decision came as a complete surprise to me and without any warning, I fully respect the club’s right to make the decisions it believes are best for its future.

“Naturally, I am disappointed and saddened. I truly believed in what we were building together, and I leave with a sense of pride in everything we achieved over the past months.

“Together, we enjoyed a memorable end to the season. We secured the club’s Premier League status, reached the semi-finals of the Europa League, and created moments that will stay with me forever. Most importantly, I saw a group of players grow in confidence, belief and togetherness.

“I leave Nottingham Forest with no bitterness or resentment—only respect, gratitude and wonderful memories. Football is full of unexpected moments, and while this chapter has ended sooner than I expected, I will always look back on my time here with pride and affection.”

The Portuguese succeeded Sean Dyche and was Forest’s fourth permanent boss of the season following the departures of Nuno Espirito Santo and Ange Postecoglou.

Nuno had led Forest to Europa League qualification the previous season but he departed in September, less than three months after signing a new deal. Postecoglou was appointed his replacement but was dismissed just 39 days later. Dyche took charge of the team in October before his dismissal in February.

Forest were three points above the relegation zone when Pereira was appointed and he subsequently steered his side to Premier League safety with two games of the campaign remaining.

His appointment marked his second managerial spell in the Premier League after guiding Wolverhampton Wanderers to safety during the 2024-25 campaign.

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Ronaldo Dismisses Sister’s Retirement Claim

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Cristiano Ronaldo has publicly countered suggestions from his sister, Katia Aveiro, that he intends to retire from international football following the World Cup.

 

The Portuguese legend recently led his team to the round of 16 following a 2-1 victory over Croatia.

Ronaldo continued to be a pivotal player for his country, having scored the equalising goal from the penalty spot after going one goal down in the second half.

Following his goal, he became the oldest player to score in the knockout stage of the FIFA World Cup.

Reports from Portuguese media had quoted Aveiro stating that the current tournament would be Ronaldo’s final appearance for the national team.

Before the recent match against Croatia, Aveiro was quoted as saying, “From the information I have, from a reliable source, I believe that this is the last dance, so let’s enjoy it. I strongly believe this is the farewell.”

However, the football icon has made it clear that his focus remains solely on the present, not on his future.

“My future isn’t important right now,” Ronaldo stated. “I’ll have time; after winning or losing, I’ll talk to my family and then make the best decision.”

The legendary forward, who recently secured a trophy in Saudi Arabia, holds the record for both appearances and goals for his national team, with 146 goals in 232 caps.

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Match-Fixing: UEFA Slams Club With Europa League Ban

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The UEFA Appeals Body has announced that Czech club Karvina is banned from participating in next season’s Europa League. UEFA made the decision based on competition regulations, ruling that Karvina “directly or indirectly participated in activities aimed at manipulating or influencing the results of domestic matches,” as stated in the official resolution.

 

As a result of this decision, Karvina’s spot as domestic cup winner will be taken by Viktoria Plzeň, with Viktoria Plzeň’s second qualifying round spot going to Hradec Králové. Jablonec will fill the vacant Conference League spot originally held by Hradec Králové.

In the Europa League, Hradec Králové will face Tromsø. In the Conference League, Jablonec will face Varaždin.

Viktoria Plzeň will learn their opponent in the Europa League playoff draw on Monday, August 3.

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