Wednesday, 27 August 2025

Global investors shell-shocked after Trump fires Fed governor

SINGAPORE - Global investors were shell-shocked on Aug. 26 after President Donald Trump struck another blow to the Federal Reserve's independence, caught between the concerns over politicization of policy and payoffs for markets.

Trump's announcement that he was firing Fed Governor Lisa Cook surprised markets, even though he had made clear last week that Cook was a target and has for months attacked Chair Jerome Powell as part of his campaign to get the Fed to cut interest rates.

"It's another crack in the edifice of the United States and its investibility," said Kyle Rodda, a senior financial market analyst at Capital.com in Melbourne.



Full story at USA Today

By Kevin Buckland and Vidya Ranganathan


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