U.S.

Donald Trump announces that he has fired the Fed’s Lisa Cook.

The Financial Times (emphasis added):

Donald Trump’s move to fire Federal Reserve governor Lisa Cook has triggered bets of lower near-term interest rates, but higher inflation in the future, as worries grow over the US president’s attack on the central bank. The gap between long and short-term yields climbed on Tuesday to its widest in three years.

The shift points to concerns that the Fed will begin lowering rates soon because of mounting political pressure, but will then need to increase them years down the line as policymakers........

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