U.S. President Donald Trump announced he is removing Federal Reserve Board governor Lisa Cook effective immediately, accusing her of an alleged mortgage fraud. Trump posted a copy of his letter on Truth Social; Cook has said she will not resign and, through counsel, called the removal unlawful and lacking due process. "I will continue to carry out my duties and help the American economy... I will not resign," she said. Trump's letter alleges Cook in 2021 listed homes in Michigan and Georgia as her primary residence to obtain better mortgage terms, calling the conduct "fraudulent and potentially criminal" and saying he has "sufficient cause" to remove her under Article II and the 1913 Federal Reserve Act. Cook’s lawyer said the claim has no legal basis and vowed to take steps to block the attempt. Legal experts note the move is unprecedented: Fed governors have fixed terms (Cook’s runs to 2038) and presidents historically avoided testing removal authority. Scholars warn a court fight could raise constitutional questions about executive power and Fed independence. Replacing Cook would give Trump-appointed governors a 4–3 majority; the next Fed policy meeting is set for Sept. 16–17. #Fed #LisaCook #DonaldTrump #JeromePowell #FiatNews

Czech Founders runs a business school in nature to teach entrepreneurship through hands-on projects. Barbora Werdmölder says the program focuses on resilience and initiative, and she stresses the importance of firms doing business and creating value in the Czech Republic even if headquartered abroad. #entrepreneurship #FiatNews

Barbora Werdmölder proposes allowing retail investors access to venture capital to broaden funding sources. Economist Honza Bureš adds Czech pension funds invest too conservatively, suggesting better diversification could improve returns for savers. #investing #pensions #FiatNews

Startups in the Czech Republic face heavy administration and a conservative investor culture. "In the US you can have a 70-person team without an accountant. Here you get piles of forms after founding a company," says Barbora Werdmölder, adding that risk-taking is often seen as foolish. #startuplife #FiatNews

About 1,600 startups operate in the Czech Republic, yet up to 30% of founders are considering relocating abroad. Barbora Werdmölder of Czech Founders cites shortages of capital, investors and supportive policies; US markets offer larger funding pools and higher valuations. #startups #CzechRepublic #FiatNews

The World Happiness Report places the Czech Republic among the 20 happiest countries. Honza Bureš attributes the ranking to a stable health and social insurance system and relative social equality, noting the country rates above Germany, the US and the UK. #WorldHappinessReport #CzechRepublic #FiatNews

Only 10% of US firms report meaningful use of AI, according to a US Census Bureau survey. Economist Honza Bureš says large companies encounter barriers such as required process changes and employee resistance, limiting broader AI-driven transformation. #AI #business #FiatNews

Czech government is weighing a 5–13% pay rise in the public sector to catch up with private wages. Economist Honza Bureš notes higher-paid roles face staffing shortages while lower-paid positions risk falling below the legal minimum. Estimated cost: CZK 20–30 billion. #CzechRepublic #wages #FiatNews

Markets are weighing whether equities will slow in the second half of the year, but the picture is mixed. Aggregate U.S. valuations sit near historical highs, largely driven by structural optimism about new technologies, which can mask cyclical signals. At the same time, cyclical sectors have recently been outpacing defensive sectors, suggesting stronger growth expectations. #equities #US #stocks Valuation indices spanning more than a century show lofty readings today, while a relative-performance chart for cyclicals versus defensives points to a meaningful cyclical tilt. Goldman Sachs ties that sector divergence to implied U.S. GDP growth near 3–3.5%, a level well above the bank economists’ own forecast of 1.4% growth for Q4 and above typical potential growth (~2%). The author concludes that U.S. equities are substantially driven by a structural, technology-led outlook, with cyclical influences subordinated on aggregate. Yet the current rotation toward cyclicals could indicate the market is not broadly pricing in a near-term economic slowdown, though structural shifts may still blur cyclical signals. #FiatNews

Bank of America downgraded American Eagle to "underperform" and cut its price target to $10 from $11, saying the boost from celebrity-led ads (notably Sydney Sweeney) is unlikely to sustain a stock rally; the new target implies >21% downside. #AmericanEagle #FiatNews