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: 2025.08.27
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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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2025.09.11 21:13
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Lagarde speech: Trade uncertainty has diminished
Christine Lagarde, President of the European Central Bank (ECB), explains the ECB's decision to leave key rates unchanged at the September policy meeting and responds to questions from the press.
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2025.09.11 22:15Lagarde speech: Disinflationary process is over
Christine Lagarde, President of the European Central Bank (ECB), explains the ECB's decision to leave key rates unchanged at the September policy meeting and responds to questions from the press.
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2025.09.11 22:06Lagarde speech: Stronger Euro could bring inflation down more than expected
Christine Lagarde, President of the European Central Bank (ECB), explains the ECB's decision to leave key rates unchanged at the September policy meeting and responds to questions from the press.
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2025.09.11 21:51US weekly Initial Jobless Claims rise to 263K vs. 235K expected
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2025.09.11 21:41Silver Price Forecast: XAG/USD consolidates near $41.00 ahead of US CPI
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The Japanese Yen (JPY) is weak, down 0.3% against the US Dollar (USD) and underperforming all of the G10 currencies into Thursday's NA session, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
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2025.09.11 20:54Gold dips as traders await US CPI data amidst Fed rate cut speculation
Gold (XAU/USD) edges lower on Thursday as investors turn cautious and reposition ahead of the US Consumer Price Index (CPI) data release.
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2025.09.11 20:52GBP down marginally ahead of trade/IP data Friday - Scotiabank
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2025.09.11 20:50CAD is about as 'undervalued' as it was in the spring - Scotiabank
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2025.09.11 20:48Disclaimer:
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