Golden Finance reports that, according to CCTV News, on the 26th local time, a spokesperson for the Federal Reserve issued a statement regarding U.S. President Trump's dismissal of Federal Reserve Governor Lisa Cook. The statement noted that Congress, through the Federal Reserve Act, stipulates that the term of a governor is fixed for the long term, and the president can only remove a governor 'for cause.' The long-term term and removal protection for governors is an important safeguard to ensure that monetary policy decisions are based on data, economic analysis, and the long-term interests of the American people. The Federal Reserve will continue to fulfill its legally mandated responsibilities. The statement indicated that Cook has expressed through her attorney that she will seek judicial review. The Federal Reserve will always comply with any court rulings. Shortly thereafter, Trump responded that he would also comply with court rulings.