🏛️ U.S. Treasury Secretary Scott Pisent stated that the Federal Reserve should remain independent, but criticized its performance, saying it made "numerous mistakes," especially in managing interest rates. He also defended President Donald Trump's right to dismiss Lisa Cook, a Federal Reserve Board member, amid allegations of mortgage fraud, despite the legal and political controversy surrounding the move.

📉 Trump has continued to criticize the Fed and its chairman Jerome Powell for months, accusing him of failing to cut interest rates, and recently attacked the cost of renovating the bank's headquarters. The dismissal of Cook, the first Black woman on the board, sparked widespread reactions, with some viewing it as an attempt to strengthen the president's influence within an institution that is supposed to be independent.

⚖️ Cook decided to file a lawsuit challenging her dismissal, amid rising debate over the independence of U.S. economic institutions. In contrast, Pisent confirmed that he is not concerned about the strength of the dollar against the euro, noting that the administration is considering multiple options to adjust monetary policy without compromising the independence of the central bank.