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US President Donald Trump says he's prepared for fight as Cook vows to sue -- Bloomberg
World FX news
Breaking news
US President Donald Trump says he's prepared for fight as Cook vows to sue -- Bloomberg
New
2025.08.27 09:48
2025.08.27 09:48
2025.08.27 09:48
US President Donald Trump said he was ready for a legal fight with Federal Reserve (Fed) Governor Lisa Cook after he moved to oust her from her post following allegations that she falsified mortgage documents, Bloomberg reported late Tuesday.
Trump spoke at a Cabinet meeting on Tuesday, saying that he was also prepared to abide by any court decision but indicated he was not concerned about Cook's challenge.
Market reaction
At the time of press, the US Dollar Index (DXY) was up 0.03% on the day at 98.25.
Fed FAQs
Monetary policy in the US is shaped by the Federal Reserve (Fed). The Fed has two mandates: to achieve price stability and foster full employment. Its primary tool to achieve these goals is by adjusting interest rates. When prices are rising too quickly and inflation is above the Fed's 2% target, it raises interest rates, increasing borrowing costs throughout the economy. This results in a stronger US Dollar (USD) as it makes the US a more attractive place for international investors to park their money. When inflation falls below 2% or the Unemployment Rate is too high, the Fed may lower interest rates to encourage borrowing, which weighs on the Greenback.
The Federal Reserve (Fed) holds eight policy meetings a year, where the Federal Open Market Committee (FOMC) assesses economic conditions and makes monetary policy decisions. The FOMC is attended by twelve Fed officials - the seven members of the Board of Governors, the president of the Federal Reserve Bank of New York, and four of the remaining eleven regional Reserve Bank presidents, who serve one-year terms on a rotating basis.
In extreme situations, the Federal Reserve may resort to a policy named Quantitative Easing (QE). QE is the process by which the Fed substantially increases the flow of credit in a stuck financial system. It is a non-standard policy measure used during crises or when inflation is extremely low. It was the Fed's weapon of choice during the Great Financial Crisis in 2008. It involves the Fed printing more Dollars and using them to buy high grade bonds from financial institutions. QE usually weakens the US Dollar.
Quantitative tightening (QT) is the reverse process of QE, whereby the Federal Reserve stops buying bonds from financial institutions and does not reinvest the principal from the bonds it holds maturing, to purchase new bonds. It is usually positive for the value of the US Dollar.
Last updated
: 2025.08.27
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Most viewed
Australian Dollar holds ground following stronger monthly CPI
The Australian Dollar (AUD) remains steady following the release of the Monthly Consumer Price Index (CPI) on Wednesday. However, the AUD/USD pair receives downward pressure as the US Dollar (USD) recovers its recent losses from the previous session.
New
2025.08.27 11:46Gold retreats from two-week high, concerns over Fed's independence might cap its losses
The Gold price (XAU/USD) trades on a negative note during the Asian trading hours on Wednesday. The precious metal retreats from a two-week high of $3,395 amid the profit-taking and modest rebound in the US Dollar (USD).
New
2025.08.27 11:19USD/JPY trades above 147.50, upside capped by Fed concerns
USD/JPY recovers its recent losses from the previous session, trading around 147.60 during the Asian hours on Wednesday. However, the upside of the pair could be restrained as the US Dollar (USD) may struggle amid rising concerns over Federal Reserve (Fed) independence.
New
2025.08.27 10:36PBOC sets USD/CNY reference rate at 7.1108 vs. 7.1161 previous
On Wednesday, the People's Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead at 7.1108 as compared to the previous day's fix of 7.1188 and 7.1559 Reuters estimate.
New
2025.08.27 10:32US President Donald Trump says he's prepared for fight as Cook vows to sue -- Bloomberg
US President Donald Trump said he was ready for a legal fight with Federal Reserve (Fed) Governor Lisa Cook after he moved to oust her from her post following allegations that she falsified mortgage documents, Bloomberg reported late Tuesday.
New
2025.08.27 09:47NZD/USD flat lines near 0.5850 on worries over Fed's independence
The NZD/USD pair holds steady near 0.5860 during the early Asian session on Wednesday. Rising concerns over the Federal Reserve's (Fed) independence could weigh on the US Dollar (USD) against the New Zealand Dollar (NZD).
New
2025.08.27 09:26GBP/USD churns chart paper near key figures ahead of quiet session
GBP/USD rebounded from early-week losses on Tuesday, bouncing back up from a fresh technical floor near the 1.3450 level. Cable has been drifting within familiar technical levels as broad-market investor sentiment grinds to a halt ahead of key US economic figures.
New
2025.08.27 08:37When is the Australian CPI inflation and how could it affect AUD/USD?
The Australian Bureau of Statistics (ABS) will publish its monthly Consumer Price Index (CPI) report for July on Wednesday at 01.30 GMT. The monthly CPI is expected to show an increase of 2.3% year-over-year (YoY) in July, compared to a 1.9% figure reported in June.
New
2025.08.27 08:34USD/CAD weakens below 1.3850 amid renewed concerns over Fed's independence
The USD/CAD pair loses ground to near 1.3835 during the early Asian session on Wednesday. The US Dollar (USD) weakens against the Canadian dollar (CAD) amid fears over the Federal Reserve's (Fed) independence after US President Donald Trump announced he was firing a Fed Governor Lisa Cook.
New
2025.08.27 08:03USD/JPY continues sideways grind ahead of key data
USD/JPY eased slightly on Tuesday, backsliding around one-quarter of one percent and keeping the pair hobbled just below the 148.00 handle.
New
2025.08.27 07:23Disclaimer:
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