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AXIOS (Neil Irwin) - Fed governor Lisa Cook: "No legitimate basis for removal" on Trump mortgage claims

Lawyers for Federal Reserve governor Lisa Cook have submitted their case for why she cannot legally be fired, as President Trump seeks new avenues for dismissing the Biden appointee for cause. The big picture: After the Supreme Court ruled against Trump's attempt to fire Cook last year over allegations that she claimed two different properties as her primary residence in mortgage documents, the White House has sought to introduce a more formal process in pursuit of the same goal. - It is a closely watched case that may determine the political independence of America's central bank, by setting how high the bar is for a president to fire Fed governors. Driving the news: Three weeks ago, the White House asked for her response to the…

Lawyers for Federal Reserve governor Lisa Cook have submitted their case for why she cannot legally be fired, as President Trump seeks new avenues for dismissing the Biden appointee for cause. The big picture: After the Supreme Court ruled against Trump's attempt to fire Cook last year over allegations that she claimed two different properties as her primary residence in mortgage documents, the White House has sought to introduce a more formal process in pursuit of the same goal. - It is a closely watched case that may determine the political independence of America's central bank, by setting how high the bar is for a president to fire Fed governors. Driving the news: Three weeks ago, the White House asked for her response to the…Open

YOUTUBE (MS NOW) - Freddie Gibbs thanks Gary, IN mayor, hip-hop community for helping city during power outages

Grammy award-winning rapper Freddie Gibbs shouts out Keith Lee, Trae tha Truth, Pastor Eric Boone and Gary, Indiana, mayor Eddie Melton for supporting the city as thousands of residents went without power for two weeks. According to The Northern Indiana Public Service Company, electricity is now back on for 99% of residents in the state.

YOUTUBE (CNN) - Meta agrees to pay $18B and make sweeping changes to settle addiction claims

Meta said Wednesday it has agreed to pay about $18 billion as part of a settlement to resolve a multistate lawsuit claiming that it intentionally designed addictive platforms that harmed young people's mental health. The settlement ends a landmark legal battle for the social media giant. CNN's Clare Duffy reports on how the changes will impact teen users.

YOUTUBE (CNN) - Why did the CIA director fly to Russia? What we know

CIA Director John Ratcliffe made a rare, unannounced trip to Moscow on Tuesday, August 25, to meet with Russian intelligence officials, according to U.S. and Kremlin sources. While U.S. officials and the CIA have officially declined to comment on the exact substance of the meeting, the Wall Street Journal reports the high-level trip comes amid critical U.S. intelligence warnings. According to reports, the U.S. recently intercepted information indicating Russia is planning a new military mobilization and looking to test the resolve of NATO. 0:00 Trump's response to reports of a secret CIA meeting with Putin 1:35 WSJ report warns of a potential threat from Putin 5:38 Rep. Seth Moulton: Russia is testing Trump's resolve 6:57 Questions grow…

YOUTUBE (MS NOW) - Trump's fear: Bubble BURSTS as AI drowns GOP in 'Blue Wave'

Meta and a group of state attorneys general announced a settlement agreement in which the social media giant will pay up to $17 billion and make changes to its apps following allegations that its technology harms children’s mental health. Obama campaign veteran Chai Komanduri joins MS NOW’s Ari Melber on “The Beat” to discuss AI and social media. (The Beat's YouTube: https://ms.now/ari)