With the Trump administration's efforts to exert control over the Federal Reserve, most recently evidenced by the firing of Lisa Cook of the Fed's Board of Governors, the U.S. central bank is potentially entering a political environment that could have a dramatic impact on its public standing both inside and outside of the country.
Analysts across Wall Street have sounded alarms about the potential repercussions of an erosion of public trust in the Fed. Those at Goldman Sachs and JPMorgan have speculated that a chain reaction could lead to a price explosion for safe-haven commodities like gold.
