White House Confirms Trump Reviewing Removal of Fed Governor Cook

The White House confirmed that President Trump is weighing the removal of Federal Reserve Governor Lisa Cook, a step without modern precedent that would escalate political pressure on the central bank. Dismissing a sitting governor would break historical norms governing the Fed’s insulation from the executive branch.

Such a move could have major implications for monetary policy and financial markets, as it may challenge the perception of the Fed’s independence. Market participants are likely to monitor developments closely for any sign of encroachment on the central bank’s decision-making.