US Government Intervention in Business - The discussion revolves around the extent to which the US government should take equity stakes in companies, especially those receiving government funding or benefiting from government policies [3][4][11] - The Trump administration's approach involved seeking equity in exchange for government assistance, contrasting with what is portrayed as the Biden administration's "giveaways" [3][18] - The Commerce Secretary argues that if the US adds fundamental value to a business, it's fair for the government to seek a stake, referencing examples like university patents and defense contractors [13][14][15] - A key point is whether the US government's involvement is essential for a company's success, particularly in strategic sectors like rare earth magnets where Chinese dominance poses a threat [28][29] Trade and Competition - The discussion highlights concerns about unfair competition from countries that subsidize their industries, arguing that the US needs to ensure fair treatment and protect its interests [32][33][34] - The Commerce Secretary criticizes the Chips Act for providing $50 billion in subsidies without securing equity, questioning why the US should give money away for free [31][34] - The conversation touches on the US trade deficit and the increasing foreign ownership of American assets, framing the Trump administration's policies as an effort to reverse this trend [36][37][38] Specific Company Examples - Intel received an $11 billion grant from the Biden administration, which the Trump administration would have converted into an equity stake [3][4] - TSMC initially received $65 billion from the Biden administration, but after negotiations, committed to $165 billion of investment [7][8] - Micron received a $25 billion grant, later increased to $200 billion [9] - Texas Instruments increased investment from $23 billion to $60 billion [10] Lisa Cook Controversy - The discussion addresses allegations of mortgage fraud against Lisa Cook, a governor at the Federal Reserve [39][40] - The Commerce Secretary asserts that if Cook committed mortgage fraud, she should resign [40][43] - The conversation briefly touches on potential implications for Federal Reserve Chair Powell if he doesn't take action [41] Economic Outlook - The Commerce Secretary portrays a positive economic outlook under the Trump administration, citing high stock market levels, steady bond markets, and a 3% GDP growth rate [45][47] - He suggests that the Federal Reserve could cut interest rates to benefit American taxpayers, estimating a $360 billion annual saving per 1% interest rate cut [46] Infrastructure - The discussion briefly mentions the need for smooth intercontinental railroad operations, leaving the specifics of how to achieve this to regulators and industry experts [49][50]

Mike, I want to build on what you were talking about earlier on this morning that the president's come out and said Lisa Cook is fired and the Fed governor says no, she's not. So, is she fired or isn't she. We don't know.That is the interesting question right off the bat this morning. If she shows up to work, what happens. Does the Fed keep her out. Does the president send US marshalss to take her out of the Fed.Uh, how does this play out. And who takes it to court. We assume it'll all end up in court.And t ...

President Trump has said he would fire Fed Governor Lisa Cook for alleged mortgage fraud. The announcement comes as the president seeks to ramp up his pressure on the US central bank to cut interest rates https://t.co/uHB22YmAs5 ...

ambitiously. >> Welcome back to Squawk Box. The Department of Justice is investigating Federal Reserve Governor Lisa Cook over allegations of fraud related to her mortgages.A letter signed by DOJ attorney Ed Martin also urging Fed Chair Jerome Powell to remove cook from the central bank's board, though in fact he doesn't have the power to do that. Joining us right now to help us understand the allegations against cook, some of the rules and how this could all play itself out. Former Assistant Attorney Gener ...

Federal Housing Finance Agency Director Bill Pulte suggested his referral of Fed Governor Lisa Cook for alleged mortgage fraud was part of a broader crackdown on the issue https://t.co/648cPXbIDI ...

Anytime a member of the board is being personally attacked by the president, it does jeopardize the political independence of the Fed. That's for sure. What's a little bit tricky is that there are some actions taken by the board that require a simple majority. There are others that require a five vote supermajority.So the more seats Trump can claim, the more he can undertake certain actions uh including adjusting the discount rate which is decided by the board of governors rather than by the FOMC. And I thi ...

Federal Reserve Governor Lisa Cook signaled her intention to remain at the central bank in defiance of calls for her resignation by President Donald Trump over allegations of mortgage fraud https://t.co/jGSfgOlTu5 ...

Federal Reserve & Monetary Policy - President Trump calls for the resignation of Fed Governor Lisa Cook amidst mortgage fraud allegations [1][2] - The potential firing of Lisa Cook is seen as part of Trump's broader effort to influence the Fed and push for lower interest rates [4][10] - The market is currently pricing in three rate cuts by the end of the year, but concerns about inflation persist [14] - The Fed faces a difficult situation with conflicting signals from employment and inflation data [16] - The CME Group's Fed watch tool indicates around 80% probability of a September rate cut [12] Allegations Against Lisa Cook - Lisa Cook is accused of listing two different residences as her primary residence on mortgage applications [3][6] - The head of the Federal Housing Finance Agency (FHFA) has referred the allegations to the Justice Department [2][3] - It is noted that there may be circumstances where listing two primary residences is permissible, such as co-signing for a dependent [3][7] Market Expectations & Fed's Stance - The market anticipates Fed Chair Jerome Powell to slightly open the door to a rate cut in September [13] - Recent weak jobs numbers and downward revisions to hiring in May and June could tilt the scales towards a rate cut [14] - The minutes from the recent FOMC meeting revealed that most Fed members remain focused on inflation [11][13] - Only two out of twelve Fed members indicated that the risks of lower employment outweigh those of inflation [12]

You know, when this came across my desk, I said, "Oh, you know, people are going to think this, that, or the other thing." Well, it doesn't really matter. If she did this, she did this. We have an obligation to report it, and it wouldn't matter whether, you know, she was a Republican or Democrat.It's it's it is what it is. Still, you have to admit that you'd be you'd be probably happy to see the president get another yet another pick for a new governor if this is where all this goes on the on the Federal Re ...

So, what have you found. What have you dug up on Governor Cook. >> Well, I don't know if it's as much digging up as much as it is doing our job.We refer people every day criminally for mortgage fraud and no one is above the law. And in this case, it happens to be a Fed governor and I have an obligation to do something about it. So, when we received a tip, this is this is what we discovered.And it's very unfortunate because, you know, a Fed governor is supposed to understand economic harm of mortgage fraud. ...