A Russian Mega-Yacht Auction & Allegations of Mortgage Fraud 8/21/25

While the world’s central bankers convene in Jackson Hole, Wyoming, President Trump’s Director of the Federal Housing Finance Agency Bill Pulte has accused Federal Reserve Governor Lisa Cook of "mortgage fraud.” CNBC’s Steve Liesman discusses the allegations and sits down with Kansas City Fed President Jeffrey Schmid to discuss the Fed’s mandate, inflation metrics, and the state of the U.S. economy. Author Walter Isaacson is closely watching the Trump administration’s interest in corporate America; the renowned biographer warns that “state capitalism” could bring the country down a path toward “crony capitalism.” Plus, CNBC’s Robert Frank reports on the Justice Department’s auction of a Russian oligarch’s $300 million mega-yacht.

Walter Isaacson - 21:44

Jeffrey Schmid - 33:12

In this episode:

Steve Liesman, @steveliesman

Robert Frank, @robtfrank__

Becky Quick, @BeckyQuick

Joe Kernen, @JoeSquawk

Andrew Ross Sorkin, @andrewrsorkin

Katie Kramer, @Kramer_Katie