All eyes will be focused on the US bond market after President Donald Trump took the unprecedented move to fire Federal Reserve governor Lisa Cook, adding to investor unease about the future independence of the world’s most important central bank.
Trump delivered the news on social media, saying he was removing Cook from her position on the Fed’s board of directors, which votes on US monetary policy because he had enough evidence that she lied on mortgage applications. Her early exit could potentially speed up the president’s plan to reshape the bank.
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