5 Things to know for August 26: Federal Reserve, Trump vs. Pritzker, Flag burning, FEMA, Haboob
By Jade Walker, CNN
Want to learn more about the victims of Jeffrey Epstein? A posthumous and “unsparing” memoir by Virginia Giuffre, one of the late convicted sex offender’s most prominent accusers, will be published this fall.
Here’s what else you need to know to get up to speed and on with your day.
1?? Federal Reserve
In a significant escalation in his battle with the politically independent central bank, President Donald Trump announced he has fired Federal Reserve Governor Lisa Cook. In the termination letter, Trump said Cook — the first Black woman to serve as a Fed governor — had been removed from her position for cause, citing allegations of mortgage fraud. Although the Justice Department said it plans to investigate these claims, Cook has not been charged with or convicted of any wrongdoing. “President Trump purported to fire me ‘for cause’ when no cause exists under the law, and he has no authority to do so,” Cook said in a statement. “I will not resign. I will continue to carry out my duties to help the American economy as I have been doing since 2022.” In recent months, Trump has also criticized Fed Chair Jerome Powell, whom he appointed during his first term, for refusing to lower interest rates.
2?? Trump vs. Pritzker
President Trump’s threat to deploy the National Guard to patrol the streets of Chicago has sparked strong opposition from the city’s mayor as well as the state’s governor, who is a potential Democratic presidential hopeful. “If this were happening in any other country, we would have no trouble calling it what it is, a dangerous power grab,” Illinois Gov. JB Pritzker said on Monday while flanked by city leaders, including Chicago Mayor Brandon Johnson. Meanwhile, Trump signed an executive order that tasked Defense Secretary Pete Hegseth with establishing “specialized units” in the National Guard that will be trained to “deal with public order issues” — a move that could be a prelude to stationing troops in more US cities. Trump also chastised Pritzker, who commands the Illinois National Guard, and Mayor Johnson for “criticizing us before we even go there.” Pritzker responded by directly addressing Trump: “Mr. President, do not come to Chicago. You are neither wanted here nor needed here.”
3?? Flag burning
President Trump also signed an executive order on Monday that directs the Justice Department to investigate incidents of flag burning, an activity that he claims incites violence and riots. The order is likely aimed at challenging the 1989 Supreme Court ruling in Texas v. Johnson, which declared flag burning a protected form of speech under the First Amendment. However, Justice William Brennan addressed Trump’s argument 36 years ago when he wrote for the majority: “…The Government cannot assume that every expression of a provocative idea will incite a riot, but must look to the actual circumstances surrounding the expression.” Hours after Trump signed the order, a man who identified himself as a 20-year combat veteran was arrested for setting a US flag ablaze in front of the White House. US Park Police said they arrested one person for violating a federal regulation that prohibits lighting a fire on land controlled or policed by the Park Service, except in designated areas.
4?? FEMA
More than 180 current and former FEMA employees have signed a letter to Congress titled “Katrina Declaration,” which warns that the Trump administration’s sweeping overhaul was gutting the disaster relief agency’s authority and capabilities. Since President Trump’s return to office, his administration has worked to either abolish or drastically shrink the agency. Homeland Security Secretary Kristi Noem tapped David Richardson to lead FEMA, even though he had no prior experience managing natural disasters. DHS also slashed hundreds of millions of dollars in national preparedness funding while Noem imposed strict new spending controls, requiring her approval for any contract or grant over $100,000. This policy became an issue during the deadly flooding in central Texas last month. Without Noem’s prompt sign-off, FEMA couldn’t pre-position search and rescue teams or fulfill requests for aerial imagery. Thousands of calls also went unanswered after a contract for call center staff lapsed.
5?? Haboob
A towering wall of dust, known meteorologically as a haboob, slammed into Phoenix on Monday night, plunging the Arizona capital into near-zero visibility. The massive dust storm was quickly followed by damaging thunderstorms. This one-two weather combo caused widespread power outages, traffic light issues, downed trees and flooding on roadways. At Phoenix Sky Harbor International Airport, 70-mph wind gusts shredded a connector bridge. More thunderstorms are possible in the area today and Wednesday.
Breakfast browse
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And the backlash has battered the struggling country-themed restaurant chain’s stock.
Fox channels may soon go dark on YouTube TV
It all depends on whether the two companies can reach a deal.
Southwest Airlines adds new seating rule
One that will affect plus-sized passengers.
Worried about having two copies of the ‘Alzheimer’s gene’?
A new study has discovered a way for people with this genetic makeup to lower their risk for dementia.
‘Hey batter, batter, batter, batter, swing, batter!’
Two old friends attended a baseball game last weekend. It was the perfect way to spend a day off.
Big number
$815 million
That’s how much the estimated jackpot in the Powerball lottery is worth after there were no grand prize winners in Monday night’s drawing. It is now the 7th largest prize in the game’s history.
Quotable
Bailey witnessed an ICE arrest in Maryland when she stopped for gas.
Weather
??? Check your local forecast to see what you can expect.
And finally…
?? Kids are obsessed with ‘KPop Demon Hunters’
Superfans explain why they can’t stop watching this animated film.
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