TechFlow, August 26 — According to Jinshi Data, Trump has dismissed Federal Reserve Board governor Cook, signaling the White House's attempt to exert greater influence over the central bank. This legally questionable move further threatens the political independence of the central bank. In documents released by the White House, Trump cited Article II of the Constitution and the Federal Reserve Act of 1913 to notify Cook of her "immediate removal." If the White House successfully ousts Cook, this will be the second vacancy on the Federal Reserve Board in less than a month, giving Trump another opportunity to shape this key group of officials. (AXIOS)
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