Axios

The Trump administration is attempting to oust another Federal Reserve official, and the attack is being led by a familiar figure: top housing regulator Bill Pulte.

The big picture: Pulte accused Federal Reserve governor Lisa Cook of mortgage fraud, and now President Trump is reportedly considering firing her for cause.

The Trump administration has a new target in its bid to take control of the Federal Reserve and crimp its independence.

The big picture: Top housing regulator Bill Pulte is accusing Fed governor Lisa Cook of mortgage fraud. President Trump is considering firing her for cause, per The Wall Street Journal, and called for her resignation on Truth Social.

Texas Democratic state Rep. Nicole Collier on a call with DNC Chair Ken Martin and other senior party leaders told them she had to abruptly leave the call after being warned it was a felony offense.

The big picture: Collier was among the Texas Democrats who left the state in a two-week protest over a new congressional map before returning on Monday, when the state House reached a quorum.

Federal Reserve governor Lisa Cook is the latest target of one of the Trump administration's new pathways to pursue its perceived enemies: alleged mortgage fraud.

The big picture: Trump has waged a revenge tour from his seat in the White House, with prominent members of his grudge list now facing probes from a MAGA-aligned DOJ.

Federal housing finance regulator Bill Pulte accused Federal Reserve governor Lisa Cook of mortgage fraud and referred her for criminal prosecution.

Why it matters: It comes as the president seeks to clean house at the Fed and install governors more to his liking.

A federal judge denied the Trump administration's request to unseal Jeffrey Epstein grand jury transcripts and exhibits from a case in New York state.

Why it matters: This is the second time a federal judge in New York has denied the Trump administration's request to release additional information about the disgraced financier and convicted sex offender.

Sony is raising the price of its PlayStation 5 consoles by $50 each in the U.S. beginning Thursday, the company announced on Wednesday.

Why it matters: The move reflects companies starting to buckle under pressure from President Trump's tariffs, raising prices or signaling that increases are coming.

What they're saying: "Similar to many global businesses, we continue to navigate a challenging economic environment," Sony said in a blog post.

• "As a result, we've made the difficult decision to increase the recommended retail price for PlayStation 5 consoles in the U.S. starting on August 21."
• The recommended retail prices for PlayStation 5 accessories "remain unchanged," however.

State of play: The new prices in the U.S. range from $500 to $750.

• PlayStation 5 – $549.99
• PlayStation 5 Digital Edition – $499.99
• PlayStation 5 Pro – $749.99

Catch up quick: The price hike wasn't totally unexpected.

• Sony said in May that it was considering price hikes to cover the Trump administration's tariffs.
• In April, Sony raised the price of PS5s in the UK, Europe, Australia, and New Zealand by 10 to 15%.
• Sony rival Microsoft raised its U.S. Xbox prices in May by $80 to $100.

The U.S. and China recently extended their tariff truce for another 90 days.

• The original deal lowered U.S. tariffs on Chinese goods to 30% from 145% and restarted the flow of crucial rare earth minerals out of China.

Director of National Intelligence Tulsi Gabbard is moving forward with the next phase of plans to significantly slash staffing in her department, in part by shedding roles Gabbard says are pushing "partisan priorities."

Why it matters: After a months-long review, the Office of the Director of National Intelligence is "returning to mission" by further reducing staff, according to a briefing with five senior ODNI officials who assisted with the effort.

A plan by Texas House Democrats to block a Republican redistricting effort until the complete release of the Jeffrey Epstein files failed on Wednesday.

Why it matters: The Democratic effort, which aimed to put pressure on the Trump administration regarding the president's association with Epstein, was killed on a point of order in the Republican-controlled Legislature because it was not germane to the redistricting measure.

Top Trump administration officials, surrounded by Shake Shack burgers, scorned protests against the federal takeover of D.C. during a Wednesday press conference meant to celebrate National Guard troops.

Why it matters: Rhetoric from Vice President Vance, Defense Secretary Pete Hegseth and top Trump aide Stephen Miller drew on dated stereotypes and dismissed D.C. residents' dismay about President Trump's policies.

MAGA is pushing the Trump administration to explain why an Israeli official who was arrested in an undercover child sex sting in Nevada was allowed to leave the U.S. after posting bail.

Why it matters: The outrage marks the latest fissure between Israel and MAGA, which already faces a generational divide over how much the U.S. should support Israel amid the war and humanitarian crisis in Gaza.

Harrison Fields, the Trump White House's principal deputy press secretary, is leaving to join the Republican lobbying and public affairs firm CGCN, Axios has learned.

Why it matters: Fields, a veteran of the first Trump White House, is one of the first major departures in Trump's second term and one of the most senior Black men on the president's team.

A federal judge in San Antonio temporarily barred some school districts from implementing a Texas law requiring every public school classroom to display the Ten Commandments.

Why it matters: The ruling slows one of the nation's most aggressive pushes to mandate religious displays in public schools — setting up a likely First Amendment fight that could reach the Supreme Court.

U.S. Attorney Jeanine Pirro's office instructed D.C.'s federal prosecutors not to seek felony charges against people carrying rifles or shotguns in the capital, multiple outlets reported.

Why it matters: This memo runs counter to a D.C. policy that said nobody can carry a rifle or shotgun in the District, with some exceptions for permit-holders.

Former Secretary of State Hillary Clinton predicted that the Supreme Court will "do to gay marriage what they did to abortion" and send it back to states to decide.

The big picture: The high court was recently asked to overturn its decade-old decision in the landmark Obergefell v. Hodges case. While the court could surprise legal experts, LGBTQ+ advocates told Axios the justices are unlikely to hear the case.

Azerbaijan is seeking closer national-security and technology ties to the U.S. on the heels of a peace declaration brokered by the Trump administration.

Why it matters: Azerbaijan is sandwiched between Russia and Iran, two of the sharpest thorns in Washington's side. It's also a major oil and gas exporter with a well-equipped military.

There's a clear map for swaying President Trump — and it goes far beyond the cartoonish commentary that flattery and gifts are the surest ways.

Why it matters: We talked to CEOs and world leaders who've had some success in working with Trump, as well as several aides watching the action inside the room. From their accounts, we stitched together the tricks for shifting or shaping Trump's views.

Gov. Gavin Newsom's bid to redraw California's congressional seats to create more Democrat-friendly districts has a 22-point advantage in support among the state's voters, Newsom's longtime pollster writes in an internal memo obtained by Axios.

Why it matters: California's vote this November on what's known as Proposition 50 will have tremendous consequences for the 2026 midterms and the 2028 presidential election.

The White House insists Vladimir Putin and Volodymyr Zelensky will soon meet for peace talks. The Kremlin seems far less certain.

Why it matters: Putin has shown no interest in sitting down with Zelensky through 3.5 years of war. President Trump claims that's now changed, and that a presidential meeting is the key to unlocking peace.

The Trump administration is "very happy" with the current China tariffs agreement, Treasury Secretary Scott Bessent said Tuesday.

Why it matters: Bessent's comments on Fox News indicate a thawing of previously icy relations with China's ruling Communist Party ahead of the trade truce between the world's largest economies expiring on Nov. 10.

The Trump administration revoked the security clearances of 37 current and former officials on Tuesday that it accused of "politicization or weaponization" to "advance personal, partisan or non-objective agendas."

The big picture: National Intelligence director Tulsi Gabbard publicly released a memo naming the officials, which Mark Zaid, a lawyer who represents intelligence officers and who's suing the Trump administration to have his revoked security clearance restored, said may have broken the law.

The "entire" U.S.-Mexico border wall will be painted black at the request of President Trump to deter illegal immigrant crossings, Homeland Security Secretary Kristi Noem announced Tuesday.

What they're saying: "There will be more added to it as far as technology, cameras, sensors — we're also going to be painting it black," Noem said during a briefing in Santa Teresa, New Mexico.