BlockBeats news, on August 28, regarding the controversy sparked by Trump’s firing of Federal Reserve Governor Cook, former U.S. Treasury Secretary Yellen stated: Trump's claim to have 'fired' Cook for 'cause' is not only illegal but also poses great danger.
This is a direct political attempt against the Federal Reserve, an intimidation of its leadership, and an attempt to force monetary policy to submit to the will of the president. This action could end the independence of the Federal Reserve — and with it, the collapse of the credibility of U.S. monetary policy both domestically and internationally.
Yellen called on Congress to defend the independence of the Federal Reserve, the courts must reject this illegal abuse of power, and the financial community must also speak out against this direct attack on the credibility of the dollar. (Jinshi)