The Federal Reserve responds for the first time to "Trump firing Cook," hinting at a court appearance

ChainCatcher news, according to Jinshi reports, on August 27, a Federal Reserve spokesperson stated that under the Federal Reserve Act, Congress explicitly directs that Federal Reserve Board members should have long and fixed terms, and can only be removed by the President for "just cause."

The long terms and removal protection mechanism for board members are crucial safeguards that ensure monetary policy decisions are based on data, economic analysis, and the long-term interests of the American people. The Federal Reserve will continue to fulfill its responsibilities in accordance with the law.

Board member Cook has stated through her personal attorney that she will immediately challenge this action in court. As in the past, the Federal Reserve will comply with any court rulings.