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Speaker 1: News when you wanted With Bloomberg News Now, I'm Doug Prisner.

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Speaker 1: Fed Governor Lisa Cook is suing President Trump over his

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Speaker 1: attempt to fire her given claims she lied on mortgage applications.

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Speaker 1: On Thursday, Cook's lawyer said an unintentional clerical error may

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Speaker 1: have been behind this discrepancy. Bloomberg Law host June Grosso

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Speaker 1: says Cook does have standing to challenge the president.

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Speaker 2: What she says in the complaint is and this is

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Speaker 2: what we knew was going to happen. That the president

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Speaker 2: needs cause to fire her that really hasn't been defined

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Speaker 2: in the Federal Reserve statutes. But she says he doesn't

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Speaker 2: have cause. What happened here happened before alleged mortgage fraud,

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Speaker 2: before she was even in office, and that it doesn't

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Speaker 2: constitute neglect, malfeasance, or dereliction of duty.

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Speaker 1: You can hear more from June Grosso on the Bloomberg

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Speaker 1: Intelligence podcast.

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Speaker 3: Now.

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Speaker 1: Cook is following through on the vow to fight to

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Speaker 1: finish her term that expires in twenty thirty eight. Today,

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Speaker 1: she asked a judge to quickly issue an order blocking

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Speaker 1: the effort to remove her while this case moves forward.

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Speaker 1: A hearing is scheduled for ten am tomorrow. Health and

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Speaker 1: Human Services Secretary Robert F. Kennedy Junior is calling for

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Speaker 1: an overhaul of the Centers for Disease Controls. Speaking today

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Speaker 1: on Fox News, Kennedy said the agency isn't in step

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Speaker 1: with President Trump's policies and it must be reshaped.

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Speaker 4: The agency is in trouble and we need to fix it,

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Speaker 4: and we are fixing it, and it may be that

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Speaker 4: some people should not be working there anymore.

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Speaker 1: HHS Secretary Kennedy speaking there to Fox News Now. His

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Speaker 1: remarks come one day after CDC Director Susan Manarez was

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Speaker 1: ousted in a clash over vaccines. Three top CDC officials

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Speaker 1: have also resigned in protest. Meantime, The Washington Post is

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Speaker 1: reporting that Deputy Health Secretary Jim O'Neil will serve as

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Speaker 1: acting CDC director. FED Governor Chris Waller says he will

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Speaker 1: support cutting the policy rate by a quarter point at

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Speaker 1: the FED September meeting, and he says more cuts are

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Speaker 1: lightly over the next six months. At the same time,

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Speaker 1: Waller set a half point cut in September isn't necessary.

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Speaker 1: Here is Waller speaking earlier at a conference hosted by

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Speaker 1: the Economic Club of Miami.

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Speaker 4: Well, I judge that the FMC should have begun this

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Speaker 4: process in July based on the data in hand, I

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Speaker 4: don't believe that a cut of larger than twenty five

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Speaker 4: basis points is needed in September. Now, that view, of course,

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Speaker 4: could change, if the employment report for August, due out

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Speaker 4: a week from tomorrow points to a substantially weakening economy

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Speaker 4: and inflation remains well contained.

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Speaker 1: FED Governor Chris Swaller, there by the way, he is

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Speaker 1: seen as a potential successor to FED Shair J. Powell

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Speaker 1: hopes for. As Alenski Putin's summit appear to be fading,

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Speaker 1: German Chancellor Friedrich Murrz told reporters on Thursday the meeting

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Speaker 1: apparently will not happen. Russia, meanwhile, unleashed drone and missile

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Speaker 1: attacks on Kiev. At least twenty one people were killed

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Speaker 1: in an apartment building and there was damage to an

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Speaker 1: EU office. Now, this assault was the second largest this year,

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Speaker 1: according to Bloomberg calculations based on Ukrainian Air Force data.

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Speaker 1: The White House condemned today's attack. Here is Press Secretary

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Speaker 1: Caroline Levitt.

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Speaker 3: So the President is continuing to watch this intently, and

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Speaker 3: this killing, unfortunately, will continue as long as the war continues,

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Speaker 3: which is why the President wants it to end, and

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Speaker 3: that's why he's worked harder than anyone to end this war,

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Speaker 3: which would have never started if he were president. But

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Speaker 3: perhaps both sides of this war are not ready to

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Speaker 3: end it themselves.

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Speaker 1: Press Secretary Caroline Levitt there now. The White House had

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Speaker 1: previously said it believed Putin agreed to a meeting with

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Speaker 1: the Ukrainian president, and it thought planning was underway. It

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Speaker 1: was just Tuesday when Trump warned of an economic war

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Speaker 1: if Russia and Ukraine did not end their conflict. The

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Speaker 1: European Union says it has followed through on its trade

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Speaker 1: agreement with President Trump, adopting draft rules to eliminate tariffs

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Speaker 1: on US industrial goods. Now this opens the door for

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Speaker 1: the US to cut tariffs on European autos and auto

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Speaker 1: hearts from the current twenty seven and a half percent

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Speaker 1: to fifteen percent, and this would be backdated to August first.

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Speaker 1: European Commissioned President Ursula vonder Lyon called the trade deal strong,

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Speaker 1: if not perfect. However, EU officials say they may However,

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Speaker 1: EU officials say they may revisit the agreement if President

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Speaker 1: Trump imposes new digital taxes or penalties. In NFL news,

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Speaker 1: Micah Parsons is headed to the Green Bay Packers after

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Speaker 1: a lengthy contract dispute with the Dallas Cowboys. Parsons and

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Speaker 1: the Packers have agreed on a record setting four year

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Speaker 1: contract worth one hundred eighty eight million dollars. And that

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Speaker 1: includes one hundred and thirty six million guaranteed. And that

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Speaker 1: is news when you want it with Bloomberg News. Now,

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Speaker 1: I'm Doug Prisoner, and this is Bloomberg