Rubbish Check
CNBC Top News · 1 October 2026
source“Trump could target three Fed governors. Removing them may be harder than it looks”
R2/ 10
Lightly altered
Rubbish Rating — 1 = base fact, 10 = pure rubbish
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In short
Rubbish Talk rates CNBC's claim that Trump "could target three Fed governors" but that removal "may be harder than it looks" a 2/10 because the article's own reporting, a Fed watchdog clearing Powell of misconduct and the Supreme Court already blocking Cook's removal, directly backs the headline's hedge.
The Verdict
Lightly altered. The headline makes a forward-looking claim ("could target," "may be harder") rather than asserting a done deal, and every element of that hedge is supported in the body: the IG report found no grounds for a criminal referral, a federal judge already quashed subpoenas aimed at Powell for being "pretexts," and the Supreme Court has already let Cook stay on the board pending litigation. This is a case of cautious, well-sourced framing rather than spin.
What actually happened
A Fed Inspector General report released Wednesday found no basis for criminal charges or administrative misconduct over roughly $1 billion in cost overruns on the Fed's headquarters renovation, though it did cite management failures. Combined with separate disputes over governors Lisa Cook and Michael Barr, this gives Trump potential grounds to move against as many as three of the Fed's seven board members, but legal experts cited in the piece say any such action would face steep hurdles and could take months.
Key facts
- The Fed's Inspector General found no grounds for a criminal referral or administrative misconduct tied to the renovation's roughly $1 billion cost overrun, despite flagging oversight deficiencies.
- The Supreme Court blocked Trump's attempt to remove Cook over mortgage-fraud allegations, ruling she was owed notice and a chance to respond before any cause finding.
- A judge previously quashed subpoenas tied to the Powell renovation probe, finding their purpose was to "harass and pressure Powell."
- A former Fed general counsel, Scott Alvarez, said the renovation report alone would likely not meet the legal bar to remove Powell "for cause."
- The preliminary investigation into Barr's SVB supervisory role does not personally assign him responsibility, despite White House blame.
What to watch for
Watch the Nov. 6 joint status report in the Cook litigation and whether the administration attempts a new Supreme Court challenge, since that outcome will determine whether "harder than it looks" becomes "impossible" or merely "delayed." Also watch whether Trump's DOJ review of the IG report produces any new allegation beyond the exonerating findings already public.
About this scoreThe R-Score is Rubbish Talk's editorial opinion on how far a headline's framing sits from what the underlying facts support. It is a judgement about presentation and emphasis, not an allegation that any outlet has acted dishonestly. Every figure we rely on is linked under Receipts so you can check it yourself.
