A judge set a hearing for Friday morning on Federal Reserve Board Governor Lisa Cook’s request to block President Donald Trump from firing her, hours after Cook filed a suit against Trump.

Washington

A hearing has been scheduled in the DC District Court to address Federal Reserve Governor Lisa Cook's lawsuit contesting her dismissal. The legal proceedings will determine whether the allegations against Cook, which involve mortgage documents, are sufficient grounds for her removal and if the president's actions were lawful.

The lawsuit also raises broader concerns about presidential influence over the Federal Reserve, with Cook's filing arguing that mere allegations should not justify dismissal for cause. The case is expected to be addressed promptly, with both sides set to present their arguments in court.

Judge sets hearing for Fed Governor Lisa Cook's suit for Friday

Steve Leisman has breaking news. What do we what do we learn Steve? We're gonna have a hearing on the cook dismissal or the cook lawsuit that was filed Which was objecting to a dismissal at 10 a.m. Tomorrow, and that's it DC District Court Scott and as we said earlier these things tend to be heard quickly by the courts and Usually adjudicated pretty quickly at least a temporary injunction is ruled on very quickly So we'll get some answer relatively quickly Scott to this question of whether or not cook is in or out immediately while we wait perhaps a longer term discussion of a whether or not the dismissal for cause was legal and whether or not the courts will Find treat a Federal Reserve governor differently from how they have perhaps other officials that have been fired by the president You know Steve since since we're doing this On the fly and and I don't think this has been released Anywhere yet. I'm just gonna I'd literally got this sent to me just now from Bill Pulte who heads FHFA Which started this whole thing in the first place now I apologize to our viewers that we didn't have a time to make this up for you to see it as I read it But I'm gonna read it anyway, and Steve I want your reaction to it Quote in her filing miss cook does not deny that these are her mortgage documents So one has to wonder why she or Jerome Powell would want this to be a part of the Federal Reserve Which is supposed to have preeminent integrity and which is critical to the safety and soundness of the u.s mortgage market that directly from Bill Pulte who sent it to us only so it's a CNBC exclusive here So and we've discussed this on the network I heard you talking about it with Carl and in the prior show There really isn't an explicit denial Is there in the in the cook response to all of this or give us some more light on on on the issue itself? And how the Pulte response? sort of frames all that There is not a Detailed denial, but there is a denial Scott and not having known we were going to discuss this I'm looking waiting for my computer Apologize, but I'm not I don't want to wait on that. I didn't want to wait on the news. I didn't know either so well Scott Well, I would tell you what she says Scott which is in the in the lawsuit It's it says of the allegations made by the president if she did them Dash which she did not that is explicitly in one of the documents, but I will tell you Scott She did not detail how all this come to happen There's a talk about this being potentially a clerical error, but that is not the point of the lawsuit I would point out the point of the lawsuit Scott is that an Allegation is not for cause as As far as they understand the law and it says if that isn't that if an allegation is for cause The president can make anything up and then just fire a Federal Reserve governor It makes the point that bill Pulte which he has not addressed and not responded to my questions bill. No call me If he ever talked to cook and it says it cook was denied a hearing or any discussion of this So bill is probably right here that that in all of these documents she doesn't deny these are her mortgages, but she does deny having done anything wrong here and Pulte has not himself said that either the president or Pulte has given cook a hearing or asked her side of the story We also want to know Scott who else they have made public I mean this look the whether or not she did something wrong here. That's a big issue It's also an issue as to whether or not as Alleged in this lawsuit this is part of a concerted effort by the president to take over the Federal Reserve and this Lawsuit is full of what they call the pretextual part where the they go through all of the efforts by the president to Hammer on Powell ask for lower interest rates and take control of the Federal Reserve Board That's what they say. This is about bill Pulte writing into us. Thank you very much for that information. Mr Pulte telling us look it's really about the mortgages and we'll see in court tomorrow at 10 a.m. Where the sides meet

It's been 13 days since President Trump said he could strike a peace deal in Ukraine, following his meeting with Russia's leader, Vladimir Putin. But Russia shows no signs of backing down, launching an aerial assault on Kyiv.

Kyiv

Ukraine Invasion

Russian attack on Kyiv kills more than a dozen people

The shooter in Minneapolis fired more than 100 rounds from a rifle at the church where students at Annunciation Catholic School attended Mass. City and state officials highlighted this fact as they called for stricter gun control.

Minneapolis

Minneapolis officials call for stronger gun laws after school shooting

The shooter who killed 2 kids and injured 17 at Annunciation Catholic Church in Minneapolis had ties to the church where he targeted children celebrating a new school year during mass.

Annunciation school shooter had knowledge of church he targeted

The White House is responding to Centers for Disease Control and Prevention Director Dr. Susan Monarez's refusal to step down from her role. CBS News' Olivia Rinaldi reports.

White House reacts to CDC director refusing to step down from role

In Tehran on Thursday, Iran’s currency traded at over 1 million to $1. At the time of the 2015 accord, it traded at 32,000 to $1, showing the currency’s precipitous collapse in the time since.

Tehran

Europe prepares sanctions as Iran's currency falls

Two children, ages 8 and 10, were killed in a school shooting at Annunciation Church in Minneapolis. The FBI is investigating the shooting as an act of terrorism and a hate crime targeting Catholics. Warning, this video is difficult to watch.

FBI investigating Minneapolis Catholic school shooting as hate crime

UN officials and aid agencies have warned that famine in Gaza is no longer a looming threat but a present reality, with children increasingly dying of hunger. In a blunt address to the UN Security Council, officials described the famine and widespread hunger in the enclave as “engineered” and “man-made” disasters.

New York

Middle East Conflict

UN Security Council affirms Gaza famine is manmade

Denmark summoned the top U.S. diplomat in the country to protest what Danish officials say is an unprecedented effort by people close to U.S. President Donald Trump to conduct secret influence operations in Greenland.

Copenhagen

Denmark accuses U.S. of covert operations in Greenland

Two young children were killed, and 17 others were injured in a shooting during a Catholic Mass packed with young students in Minneapolis. The gunman is also dead.

Minneapolis Catholic school shooting leaves two children dead

The group is accused of attempting to infiltrate Greenlandic society, including allegedly recruiting locals for a new independence movement from Denmark, according to the Danish public broadcaster, DR, who was first to break the story.

Nuuk

Denmark summons U.S envoy over claimed interference in Greenland

SpaceX on Tuesday launched its Super Heavy-Starship, the most powerful rocket in the world, for a test flight after three other flights failed earlier this year. NASA hired SpaceX to build a lunar lander version of Starship to carry astronauts to the moon.

Starbase

SpaceX launches Super Heavy-Starship in test flight

The United States has doubled tariffs on many imports from India to 50 percent, as U.S. President Donald Trump followed through on his threat to punish New Delhi for buying discounted Russian oil.

New Delhi

Global Tariffs

U.S. raises India tariffs to 50 percent over Russian oil purchases

President Donald Trump said he would seek the death penalty for murders in Washington, as part of a crackdown on what he calls out-of-control crime in the US capital.

Trump endorses death penalty return in Washington D.C.

As the Israeli military gives an initial assessment of deadly strikes on a Gaza hospital, hundreds of thousands of protesters urged Prime Minister Benjamin Netanyahu to accept a ceasefire with Hamas in exchange for a hostage deal.

Tel Aviv-Yafo

Protesters urge Netanyahu to reach hostage deal

Cracker Barrel says it will go back to its old logo after facing intense backlash and seeing its company value to sink by nearly $100 million after switching to a new design last week. In a statement, Cracker Barrel thanked their guests for sharing their voices.

Cracker Barrel scrapping new logo, returning to old one after backlash

The small West Tennessee town of Mason, just 2 square miles in size, is home to about 1,000 people. But its residents are now divided by what a new immigration detention facility will mean for the area.

Mason

Small Tennessee town divided over new ICE detention facility

A standoff is brewing between President Trump and economist Lisa Cook. Mr. Trump tried to fire her, claiming "there is sufficient cause" to believe that Cook made false statements on one or more mortgage agreements.

Trump clashes with Fed board member Lisa Cook, pushing to oust her

Protesters demanding an end to the Gaza war and the return of hostages to their homes took to the streets in Israel on Tuesday ahead of a security cabinet meeting scheduled for the evening.

Israeli protesters demand hostage deal as cabinet set to meet

Australia accused Iran on Tuesday (August 26) of executing two antisemitic arson attacks in the cities of Sydney and Melbourne and gave Tehran's ambassador seven days to leave the country, its first such expulsion since World War Two.

Council of the City of Sydney

Australia expels Iranian envoy over antisemitic attacks

President Donald Trump announced the removal of Federal Reserve Governor Lisa Cook, the only Black woman to serve on the board. Critics call it an attack on the Fed's independence, while Cook says no legal cause exists for her firing.

Trump says he fired Lisa Cook from Federal Reserve board

U.S. President Donald Trump signed an executive order creating new National Guard units, including a rapid-response force to handle what the administration calls civil disturbances.

White House authorizes creation of rapid-response National Guard units

Billionaire entrepreneur Elon Musk’s artificial intelligence startup xAI sued Apple and ChatGPT maker OpenAI in U.S. federal court in Texas, accusing them of illegally conspiring to thwart competition for artificial intelligence.

Texas

Rise of AI

Elon Musk's xAI sues Apple, OpenAI over competition claims

Strikes on the Nasser hospital in Gaza that left at least 20 people dead, including rescuers, journalists and health-care workers are being met with global outrage. The Israeli military is investigating what Israel Prime Minister Benjamin Netnayahu called a ‘tragic mishap.’

Israeli PM calls deadly strikes on Gaza hospital a ‘tragic mishap’

Kilmar Abrego Garcia is back in ICE custody and is facing deportation to Uganda, the Department of Homeland Security says, after he was released from criminal custody last week.

Baltimore

Abrego Garcia in ICE custody, court blocks immediate deportation

Ukrainian President Volodymyr Zelenskyy said he will meet with the U.S. and other countries this week to discuss a potential meeting with Russian President Vladimir Putin aimed at reaching a ceasefire.

Zelenskiy say he will meet with U.S., others on potential Putin talks

U.S. President Donald Trump says Chicago could be the next city to see National Guard deployment, sparking strong opposition from Mayor Brandon Johnson and Governor JB Pritzker, who argue crime is already falling and federal intervention is unnecessary.

Chicago

Trump threatens to send National Guard troops to Chicago

Four journalists working with Reuters, Al Jazeera and others were killed in explosions at a Gaza hospital. Gaza officials blame Israeli drone strikes, though CBS News has not independently verified the claims.

Jerusalem

Four journalists reported dead after Gaza hospital blasts

U.S. National Guard troops patrolling the streets of Washington D.C. as part of what President Donald Trump said was his crackdown on crime began carrying weapons on Sunday night, two officials said.

National Guard patrolling Washington DC begin carrying weapons

In a visit to Kyiv, Prime Minister Mark Carney affirmed Canada’s support for Ukraine and committed to sending soldiers if a ceasefire with Russia is reached.

Breakdown