#TrumpFiresFedGovernorCook The dollar collapses after Trump fires Lisa Cook from the Federal Reserve

President Donald Trump has fired Federal Reserve Governor Lisa Cook, marking the first time in modern history that a U.S. president has directly fired a member of the Federal Reserve Board.

Cook, who joined the Federal Reserve in 2022 and was the first Black woman to hold the governor position, had advocated for policies that balance inflation control with inclusive economic growth. Her sudden removal is already raising concerns on Wall Street.

Here's what matters for the markets:

The dollar index weakened immediately as traders assessed a higher political risk.