Trump Presses Fed’s Cook to Quit After Mortgage Fraud Allegation | Daybreak Europe 8/21/2025

Trump Presses Fed’s Cook to Quit After Mortgage Fraud Allegation | Daybreak Europe 8/21/2025

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Bloomberg Daybreak Europe is your essential morning viewing to stay ahead. Live from London, we set the agenda for your day, catching you up with overnight markets news from the US and Asia. And we'll tell you what matters for investors in Europe, giving you insight before trading begins.

On today's show, President Donald Trump called on Federal Reserve Governor Lisa Cook to resign after Federal Housing Finance Agency Director Bill Pulte urged an investigation of Cook's mortgages.
Pulte alleges that Cook "falsified bank documents and property records to acquire more favorable loan terms, potentially committing mortgage fraud under the criminal statute".
No charges have been filed and it’s not clear whether Bondi will investigate. The Justice Department declined comment. The Fed declined comment. Cook did not respond to requests for comment late Tuesday. 

Elsewhere,  Vice President JD Vance said negotiations over ending Russia’s war in Ukraine are focused on security guarantees for Ukraine and territory Russia wants to control — including Ukrainian territory that Russia isn’t occupying — as the US tries to broker a peace deal between the two nations. 
“There really are two big questions lingering out there, and in some ways it’s very simple, but in some ways it’s very complicated,” Vance said in an interview Wednesday with Laura Ingraham on Fox News. 
“Number one is, Ukraine wants to know that it’s not going to get invaded again by Russia. It wants to know that it’s got territorial integrity long into the future. The Russians want certain pieces of territory, most of which they’ve occupied, but some of which they haven’t,” he said.

Today's guest: Melanie Debono, Pantheon Macroeconomics Senior Europe Economist

Chapters:
00:00:00 - Daybreak Europe
00:07:00 - Trump Presses Fed's Cook to Quit Over Fraud Allegations
00:09:00 - Fed’s Cook Says She Won’t Be Bullied Into Stepping Down
00:11:34 - Jackson Hole Begins
00:16:08 - Google Launches Range of New Gadgets
00:20:35 - Howard Marks, Oaktree Capital Co-Chairman
00:26:03 - Russia's Security Guarantees
00:28:22 - Vance Says Russia Wants Territory That’s Under Ukraine’s Control
00:32:59 - Melanie Debono, Pantheon Macroeconomics Senior Europe Economist
00:36:59 - UK Chancellor Rachel Reeves Looks at Family Home Tax
00:39:56 - Aliko Dangote Wants to Dominate Oil Refinining
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