【Market Analysis: Trump's Dismissal of Federal Reserve Governor Cook Lacks Legal Basis】Golden Finance reports that market analysts point out that Trump's dismissal letter cites a criminal referral from the Director of the Federal Housing Finance Agency, accusing Federal Reserve Governor Cook of making false statements in one or more mortgage applications. Trump claims he can dismiss Cook under the "just cause" clause in relevant regulations. However, a criminal referral is not a criminal charge, nor is it an indictment or arrest warrant; it merely represents suspicion and does not require "reasonable grounds," nor does it need to undergo investigation. A criminal referral is essentially not a legal document, but simply indicates that certain actions may warrant investigation. For this reason, criminal referrals can easily be politicized, and their existence does not constitute a valid basis for dismissal under "just cause." This is why Cook will likely prevail in court.