Federal Reserve's Powell signals interest rate cut, Cook is dismissed by Trump

ChainCatcher news, according to Jinshi reports, Powell signaled a rate cut at the Jackson Hole annual meeting on August 22, with the probability of a rate cut in September rising from 75% to about 90%.

On the same day, Trump threatened to fire Federal Reserve Governor Cook, and on August 26, he officially dismissed him. Cook stated that he would sue Trump. Trump also indicated that he would soon hold a majority position in the Federal Reserve and strengthen the review of the selection of regional Federal Reserve chairmen. The U.S. Senate Banking Committee will hold a confirmation hearing for Milan's nomination on Thursday.