September S&P 500 E-Mini futures (ESU25) are down -0.16%, and September Nasdaq 100 E-Mini futures (NQU25) are down -0.19% this morning as investors weigh U.S. President Donald Trump’s move to oust Federal Reserve Governor Lisa Cook and fresh tariff threats.
President Trump announced on Monday that he was dismissing Cook “effective immediately.” The move is based on allegations from one of Trump’s allies that Cook engaged in mortgage fraud, though the claims have not been confirmed. Cook said Trump had no authority to fire her, and she would not resign. Cook’s lawyer, Abbe Lowell, said they intend to take “whatever actions are needed to prevent” Trump’s “illegal action.” Analysts said the episode sounded alarm bells over the central bank’s independence.
