Part 2/11:
Today was characterized by heightened political drama and notable market reactions. Investors were notably perturbed by recent developments surrounding the potential politicization of the U.S. Federal Reserve. The dollar experienced a slight decline, while long-term Treasury yields increased, reflecting underlying fears about inflation and political interference in monetary policy. Central to this tumult is former President Donald Trump’s unprecedented move to attempt to remove Federal Reserve Governor Lisa Cook—a move that raises critical questions about the independence of the U.S. central bank and its impact on global financial stability.