Good morning. It's Wednesday, Aug. 27, and we're covering Trump's clash with a Federal Reserve Board member, a headline-making engagement, and much more. First time reading? Join over 4.5 million intellectually curious readers. Sign up here.
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Federal Reserve Board Governor Lisa Cook said yesterday she is filing a lawsuit to challenge her firing by President Donald Trump this week. The Federal Reserve Act of 1913 says a president can fire a board member for cause; Cook’s firing marks the first termination of a governor in the bank’s 111-year history.
The central bank has a unique structure, with the Supreme Court characterizing it as a quasi-private entity. Cook is one of seven president-appointed governors and five rotating regional bank presidents who determine monetary policy. In firing Cook, Trump cited allegations that she committed mortgage fraud to reduce monthly payments for two homes.
The clash comes as Trump has long pressured the bank to lower interest rates. With the resignation of a Biden-appointed governor earlier this month, Trump could fill a majority of board seats before Federal Reserve Chair Jerome Powell’s term ends next year. |
Australian Prime Minister Anthony Albanese has accused Iran of directing antisemitic arson attacks in Australia, prompting the expulsion of Iran’s ambassador and three diplomats—the nation’s first such move since World War II—and the suspension of operations at its embassy in Tehran.
The attacks targeted a kosher café in Sydney and a synagogue in Melbourne, where one person was injured. Authorities say the incidents are part of a broader pattern of antisemitic violence under investigation. Officials allege that Iranian operatives linked to the Islamic Revolutionary Guard Corps concealed Tehran’s role by using intermediaries, including organized crime groups. At least two people have been charged in connection with the Melbourne attack, and one has been arrested in connection with the Sydney attack. Albanese said Australia will move to designate the IRGC as a terrorist organization.
Iran’s government denied involvement, condemning the allegations as politically motivated. Australia is home to about 120,000 Jews, including one of the largest per capita populations of Holocaust survivors outside Israel. |
Grammy winner Taylor Swift and Super Bowl champion Travis Kelce announced their engagement yesterday, complete with photos. The couple are credited with bridging two distinct audiences: predominantly female pop fans and male-skewing football enthusiasts.
Earlier this month, 1.3 million people tuned in to Swift's 12th studio album reveal on Kelce and his brother’s podcast—setting a record for most concurrent YouTube podcast views. Their relationship has drawn outsized attention since it began in 2023. Swift’s appearances at the 2023 regular-season NFL games correlated with a 7% viewership increase, an average of 17.9 million viewers per game—the highest since 2015. The uptick was partly driven by a record 9% rise in female viewers. The 2024 Super Bowl featuring Kelce drew a then-record 123.7 million viewers, boosted by a 24% surge in women ages 18–24.
Analysts estimate that Swift and Kelce's relationship has generated roughly $1B in publicity for the NFL. Dive deeper into Swift’s economic and cultural impact here. |
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Sports, Entertainment, & Culture |
> Seattle Mariners' Cal Raleigh hits MLB-leading 50th home run, joining Mickey Mantle as the only switch-hitters to hit 50 homers in a season (More) | See tracker for this season's home run leaders (More) |
> YouTube tops Nielsen ratings as most-watched streaming service for sixth straight month, accounting for 13.4% of all TV viewership in July (More) |
> The 82nd Venice Film Festival kicks off today; see preview of most anticipated films (More) | "KPop Demon Hunters" becomes Netflix's most-watched movie ever with 236 million views (More) |
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> SpaceX carries out 10th test flight of its massive Starship space vehicle, deploys dummy Starlink satellites for first time before splashing down in the Indian Ocean (More) | See previous write-up (More) |
> Researchers demonstrate treatment preventing premature fusion of infant skulls in mice; craniosynostosis affects roughly one in 2,200 human births (More) |
> Primate study reveals correlation between longer thumbs and larger brains, suggesting increased cognition evolved with improved manual dexterity (More) |
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> US stock markets close up (S&P 500 +0.4%, Dow +0.3%, Nasdaq +0.4%); investors await Nvidia Q2 earnings report after the bell today (More) |
> Telecom giant AT&T to buy certain EchoStar wireless spectrum licenses for $23B, expanding AT&T's network and resolving federal probe into EchoStar’s 5G network build-out compliance; EchoStar shares close up 70% (More) |
> Trump Media partners with Crypto.com to form new cryptocurrency treasury firm; Trump Media plans to make digital tokens central to new rewards system on Truth Social platform (More) | What's cryptocurrency? (1440 Topics) |
1440 Business & Finance: Tomorrow's newsletter explores certificates of deposit and how they work—subscribe here for free! |
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> Israel releases initial findings into inquiry over back-to-back strikes on Gaza's Nasser Hospital earlier this week; says six of the 20 people reported killed were Hamas members, a claim denied by the militant group (More) |
> Pakistan issues flood alert to its Punjab region amid heavy rains and accusations India improperly released two dams, dangerously increasing the flood threat (More) |
> Dust storm known as haboob hits Phoenix, Arizona, on Monday, leading to flight cancellations, power outages (More) | See photos (More) |
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Lost luggage auctions give a peek into strangers' lives.
... and ranking the worst US airports for flight delays.
How Alfred Hitchcock changed cinema.
Instagram launches new feature to connect college students.
Belgium tops countries with the most calories per person.
... and Mexico, Belize, and Guatemala create a new nature reserve.
Cracker Barrel to return to old logo after backlash.
How parents took over college dorm rooms.
Clickbait: Fisherman catches a rare blue lobster.
Historybook: Krakatoa volcano eruption, among the largest in recorded history, kills around 40,000 (1883); President Lyndon B. Johnson born (1908); "Guinness Book of World Records" first published (1955); Sociologist and civil rights activist W.E.B. Du Bois dies (1963); American vaudevillian Gracie Allen dies (1964). |
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