- Trump’s move to fire Fed governor Lisa Cook sparked market volatility and raised alarms over political interference in monetary policy. While UBS’s Paul Donovan told clients the attempt was “completely unprecedented,” Wharton’s Jeremy Siegel argued her ousting adds “noise but little substance” compared with the Fed’s longer-term policy pivots.
Markets are shuddering this morning after President Trump announced his plan to fire another member of the Federal Open Market Committee (FOMC). While some supporters may argue the case for accountability among Fed voting members, many on Wall Street are chalking this up to further meddling by the White House.
