Former Treasury Secretary Yellen: Dismissal of Cook is illegal and dangerous, and the credibility of the United States may collapse

According to BlockBeats, on August 28, in response to the controversy caused by Trump's firing of Federal Reserve Director Cook, former US Treasury Secretary Yellen issued a statement saying: Trump claimed that "firing" Cook for "legitimate reasons" is not only illegal, but also extremely dangerous. This is a direct attempt to politicize the Fed, a threat to its leadership, and an attempt to force monetary policy to succumb to the president's will. This move could end the Fed’s independence—and what follows will be the collapse of US monetary policy’s credibility at home and abroad. Yellen called on Congress to defend the independence of the Federal Reserve, the court must reject this illegal abuse of power, and the financial community must also speak out against this direct attack on the credibility of the US dollar. (Jin Shi)