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President Donald Trump is ramping up his attacks on the Federal Reserve. On Monday, the president posted orders on Truth Social to remove Federal Reserve governor Lisa Cook – effective immediately. The president claims she committed mortgage fraud, an allegation first raised by a Trump loyalist and housing official. Cook, who was appointed by former President Joe Biden, responded in a statement saying that Trump has no authority to remove her and that she will continue her duties. Cook has not been charged with a crime. It’s an unprecedented move that puts into question the independence of the central bank. So, what comes next and what does this mean for the Fed? Find more of our programs online. Listen to 1A sponsor-free by signing up for 1A+ at plus.npr.org/the1a.

Get your own personalized summer school diploma here. Today on our final episode of Summer School 2025, we will test your knowledge. We will salute the unsung heroes of government service. And we will pick our valedictorian from among you of the class of 2025. Editorial Note: President Trump attempted to fire Lisa Cook, a Biden appointee to the Federal Reserve Board. Our daily podcast, The Indicator, has coverage on their latest episode. We’ll have an episode in the Planet Money feed soon, in the meantime, here’s some background listening on why this is so important. Years before she joined the Fed, we profiled the work of Lisa Cook. Listen here. Also these: Happy Fed Independence Day A primer on the Federal Reserve's independence The case for Fed independence in the Nixon tapes Turkey's runaway inflation problem Arthur Burns: shorthand for Fed failure? Should presidents have more of a say in interest rates? Can the Federal Reserve stay independent? It's hard out there for a Fed chair The series is hosted by Robert Smith and produced by Eric Mennel. Our project manager is Devin Mellor. This episode was edited by Planet Money Executive Producer Alex Goldmark and fact-checked by Emily Crawford. Always free at these links: Apple Podcasts, Spotify, the NPR app or anywhere you get podcasts. Find more Planet Money: Facebook / Instagram / TikTok / Our weekly Newsletter. Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.

The Inca Empire in South America was one of the most powerful pre-Columbian societies. It was known for the architecture of Machu Picchu, an extensive road network and a system of terraces for agriculture. The society also kept records known as khipu, which involved a system of tying knots to encode sophisticated information. Literacy in this form of writing was assumed to be something that only the highest levels of Inca society could do. But NPR science correspondent Nell Greenfieldboyce shares how a new analysis of a cord made out of human hair may change that assumption. Curious about science history? Email us at shortwave@npr.org. Listen to every episode of Short Wave sponsor-free and support our work at NPR by signing up for Short Wave+ at plus.npr.org/shortwave.

Companies from Pillsbury to Invisalign to Olipop are cheering — and trying to cash in on — the couple's engagement. Experts spoke to NPR about how brands can strike a better balance.

Trump said trading partners will face "reciprocal tariffs" ranging as high as 49% aimed at penalizing them for their trade barriers.

The concepts in the MingKwai typewriter underlie how Chinese, Japanese and Korean are typed today. The typewriter, patented in 1946, was found last year in an upstate New York basement.

The dollar has just posted its worst first-half of a year since 1973. And now investors wonder — is it a sign that America is losing its financial standing?

Ukraine is facing a summer of escalating Russian airstrikes on its cities. The Ukrainian President has called on the U.S. to provide more air defense systems.

At least 78 people are dead following flooding that slammed central Texas over the weekend, while a desperate search for 11 missing from a camp for girls continues.

NPR's Scott Simon speaks with meteorologist Sarah Spivey from KSAT News in San Antonio about the deadly floods in Texas.