How AI could end the Fed

Tuesday 2 September 2025

Deutsche with the note.

Announcement of Cook’s removal

President Trump announced the removal of Governor Cook from the Federal Reserve Board, citing “cause” due to alleged fraud in relation to mortgages she took out on properties before her appointment to the Board.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.