Trump's Bold Move Sparks Fed Controversy Amidst Global Economic Jitters

In an unprecedented maneuver, President Donald Trump aims to dismiss Federal Reserve governor Lisa Cook, citing mortgage borrowing impropriety, a move that is provoking widespread concerns about the Fed's independence.

The Wall Street, meanwhile, remains largely stagnant as investors brace for potential legal battles over this controversial decision, alongside economic ramifications. The consequences could range from shifts in inflation expectations to changes in the currency market.

Trump's actions highlight ongoing issues of central bank autonomy and governance. The global impact remains profound, as seen in currency fluctuations and stock market responses, reinvigorating the debate over political influence on monetary policy.

(With inputs from agencies.)