In a pivotal court hearing, a federal judge reviewed the legality of President Trump's attempt to remove Federal Reserve Governor Lisa Cook over alleged mortgage misrepresentations. The outcome could redefine presidential power over the Fed.
President Trump has fired Federal Reserve Governor Lisa Cook amidst allegations of mortgage fraud. This unprecedented action raises questions about the Fed's independence and could lead to a Supreme Court showdown.
The pound briefly soared to its highest level against the dollar in nearly four years, driven by reports of Trump possibly replacing the Fed chair. As the dollar weakens, concerns grow over the independence of the Federal Reserve.
