Economists: Trump's dismissal of Cook may disrupt the U.S. government budget

GateNewsBot

2025-08-26 02:03:37

On August 26, Jin10 reported that Stephen Halmalik, chief economist of Economics Unchained, stated that the independence of the Central Bank has been one of the cornerstones of the global financial system since the early 1990s. Therefore, attempts to undermine the independence of the Fed are concerning. If Fed governor Cook is dismissed and the appointment of a new governor is directly directed by the president, this will not be welcomed by the financial markets and may instead lead to a rise in bond yields, which are crucial for managing U.S. government debt.

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