The independence of the Federal Reserve is facing a severe test! Trump fires Powell in an attempt to "shake up" the board, causing the dollar to fall in response.

According to the Wise Finance and Economics APP, US President Trump dismissed Federal Reserve Board Director Lisa Cook on Monday evening local time. This move marks a new stage in Trump's attempt to strengthen control over the Federal Reserve, which has long been seen as independent from daily politics. Trump announced that he has the constitutional power to dismiss Cook. However, this move will undoubtedly raise questions about the independence of the Federal Reserve. After Trump announced the dismissal of Cook, the US dollar index fell by 0.2% and the price of gold rose by 0.4%.