The recent dismissal of Lisa Cook by President Donald Trump raises public concern about the stability of the dollar and the independence of the Federal Reserve.
Dismissal of Lisa Cook
President Donald Trump announced the dismissal of Federal Reserve Governor Lisa Cook. In his statement, Trump accused Cook of making false statements on several mortgage agreements, stating: "I have determined that faithfully executing the law requires your immediate removal from office."
Federal Reserve Independence
According to expert Alex Obchakevich, the independence of the Fed is fundamental to the stability of the US economy. He noted that independence allows for objective monetary policy, maintaining investor confidence and preventing economic crises. Obchakevich expressed concerns that Cook’s dismissal could create market uncertainty and worsen economic sentiment.
Trump's Conflicts with the Fed
The dismissal of Cook is part of an ongoing conflict between Trump and the Fed leadership. In April, Trump criticized Fed Chair Jerome Powell for the slow pace of interest rate cuts. Notable market participants, such as entrepreneur Anthony Pompliano, expressed opinions that such actions undermine the principles of central bank independence and could destabilize financial markets.
The dismissal of Lisa Cook raises important questions about the independence of the Federal Reserve and the measures being taken that may impact the stability of the dollar and the US economy overall.
