Overview

• Reports describe a move to fire Fed Governor Lisa Cook and continued efforts to push out Chair Jerome Powell.
• Accounts also detail an effort to expand presidential influence over the 12 regional Federal Reserve banks, including potential sway over selecting their presidents.
• J.P. Morgan’s Michael Feroli cautions that successful interference would be momentous, raising upside inflation risk and undermining policy credibility.
• Forbes notes investors in Asia could face greater volatility as higher Treasury yields and a weaker dollar filter through globally.
• The Spectator argues the larger, enduring threat is fiscal dominance, citing debt above 100% of GDP and interest costs nearing one-fifth of federal spending, even as history recalls Paul Volcker’s resistance to political pressure.