Trump dismisses board member Cook, Fed's independence is hit again

GateNews

2025-08-26 00:24:34

Jin10 data August 26 - US President Trump signed an executive order to remove Federal Reserve Board of Governors member Cook, causing the dollar to fall due to further ongoing impacts on the Fed’s independence. In the forex market, non-dollar currencies have significantly risen against the dollar, while gold prices are also soaring. Trump is doing everything he can to push the Fed to cut interest rates. If he successfully fires Cook, he will attempt to replace him with a “yes-man” who will be obedient to Trump. If Trump’s move succeeds, it will also allow the governors nominated by Trump to hold a majority on the Federal Reserve Board.

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