Elizabeth Warren Criticizes Trump's 'Authoritarian Power Grab' in Dismissal of Fed's Lisa Cook, Predicts Court Will 'Overturn' Decision

Warren's Criticism of Trump's Actions: Senator Elizabeth Warren criticized President Trump for firing Federal Reserve Governor Lisa Cook, labeling it an “authoritarian power grab” and a distraction from his own failures regarding economic issues.

Cook's Dismissal and Allegations: Trump cited "deceitful and potentially criminal conduct" as reasons for Cook's removal, which followed a criminal referral related to her financial history. Cook has denied these allegations and refuses to resign.

Concerns Over Federal Reserve Independence: The dismissal raised alarms about potential political interference in the Federal Reserve, leading to fears that it could impact decision-making processes and have negative effects on the economy and stock market.

Market Reaction: Following Cook's removal, U.S. stock futures fell, reflecting investor concerns over the implications of the President's actions on the Federal Reserve's independence and overall economic stability.