Trump's firing of Fed directors has sparked concerns about Fed independence1p

According to Kingshin data, concerns about Fed independence continued to exist after Trump fired Fed director Lisa Cook, causing the dollar to fall. Deutsche Bank analysts said this prompted investors to expect faster rate cuts and higher inflation.

The Wall Street Journal reported that Trump also fired Robert Primos, a member of the railway regulator, intensified concerns about his attempt to control independent government agencies. U.S. Treasury Secretary Bescent said the next Fed chairman candidate will be announced in the fall and reiterated his call for an internal review of the Fed.