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Jinse Finance reported, citing foreign media, that the Trump administration is considering measures to influence regional Federal Reserve Banks and strengthen the review process for selecting local Fed presidents. If Trump's decision to remove Federal Reserve Governor Cook is upheld in court, he will have the opportunity to secure a majority on the seven-member Federal Reserve Board of Governors. However, the FOMC, which is responsible for setting interest rates, also includes five regional Fed presidents. Unlike Fed governors, these presidents are not nominated by the White House nor do they require Senate approval. According to a source familiar with the matter, Trump's statement later on Monday heightened these concerns, prompting the regional Fed presidents to call each other to discuss what Cook's dismissal might mean for them. One insider stated that the administration's goal is not to make the central bank more dovish, but rather to review how regional presidents are selected, since they do not require Senate confirmation.

Jinse Finance reported, citing CCTV News, that on the 26th local time, a spokesperson for the Federal Reserve issued a statement regarding U.S. President Trump's dismissal of Federal Reserve Governor Lisa Cook. The statement said that Congress, through the Federal Reserve Act, stipulates that governors serve long, fixed terms, and the president can only remove them "for cause." The long-term tenure and removal protection for governors are important safeguards to ensure that 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 legal responsibilities. The statement also said that Cook, through her lawyer, has indicated she will seek a judicial ruling. The Federal Reserve will, as always, comply with any court decision. Shortly thereafter, Trump responded that he would also comply with the court's ruling.