Today’s notice: The president abides. Why members of Congress refuse to retire. Day 2 of DNC drama. RFK Jr. is keeping his lips zipped about what causes autism.
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Fed up: “This is going to cause tremors in the foundation that underpins monetary policy in the United States, and those tremors will be felt in financial markets domestically and around the world,” David Wilcox, the director of U.S. economic research at Bloomberg Economics and a former Fed Board research director, told The Wall Street Journal of Donald Trump’s attempt to fire Federal Reserve governor Lisa Cook.
Market close: Just a day later, however, stocks were unbothered by the news. The Dow, Nasdaq and S&P 500 closed higher than they did on Monday, while the bond market showed little movement.
One possible reason: The Fed is pushing back. “The Federal Reserve will continue to carry out its duties as established by law,” a spokesperson said in a statement to NOTUS’ Taylor Giorno. “Long tenures and removal protections for governors serve as a vital safeguard, ensuring that monetary policy decisions are based on data, economic analysis, and the long-term interests of the American people.”