Forex
Trump Targets Fed Governor in Renewed Battle for Central Bank Control
US President Donald Trump has reignited his battle against the Federal Reserve's independence by targeting Fed Governor Lisa Cook over unproven mortgage fraud allegations.
The move comes at a critical time for bond markets, with futures seeing about a 75% chance of a quarter-point rate increase by the midterms.
Despite a June Supreme Court ruling that recognized the Fed's special statutory protections, Trump is demanding Cook clear her name within three weeks, just before a crucial Fed meeting on September 15-16.