For months, Trump has employed various strategies to influence the Federal Reserve, yet his attempts have not been successful.
Cook’s Legal Battle
Trump announced the dismissal of Lisa Cook from the Fed, while her name still remains listed on the central bank's website. A federal judge has temporarily halted this dismissal, allowing Cook to participate in the upcoming Fed voting. Judge Jia Cobb noted that Trump’s rushed dismissal attempt undermined the addressing of its allegations.
CITE_W_A: "A dismissal shouldn’t depend on speculative future performance based on unproven behaviors before assuming office."
Upcoming Fed Interest Rate Cuts
The Federal Reserve's next meeting is scheduled for October 29, where an interest rate cut is expected with 80% certainty. Given the existing data, this reduction may symbolize a positive shift regarding the Fed's independence.
Summarizing Trump’s Setbacks
Although Trump did not achieve his goals, the judge's decision reflects a favorable aspect for the independence of the central bank. Slow interest rate cuts might foster optimism for cryptocurrencies in the last quarter.
In summary, Trump’s efforts to influence the Federal Reserve fell short, but the current developments present new opportunities for economic optimism.
