ChainCatcher message, regarding the controversy triggered by Trump's dismissal of Federal Reserve Governor Cook, former U.S. Treasury Secretary Yellen stated: Trump claims to have 'fired' Cook for 'good reason'; this move is not only illegal but also poses great dangers. This is a direct attempt to politicize the Federal Reserve, an intimidation of its leadership, and an attempt to force monetary policy to submit to the president's will.

This action could end the independence of the Federal Reserve—followed by a collapse of the credibility of U.S. monetary policy both domestically and internationally. Yellen urged Congress to defend the independence of the Federal Reserve, the courts must reject this illegal abuse of power, and the financial sector must speak out against this direct attack on the credibility of the dollar.