Wall Street has climbed this Tuesday (Dow Jones:+0.30%; S&P500:+0.41%; Nasdaq:+0.44%) before him New Trump Donald attack to the independence of the Federal Reserve (Fed)after the president has dismissed to the governor of the American Central Bank, Lisa Cook. At the same time, the Republican has renewed his Tariff threats to China. Thus, Trump, in a letter addressed to Cook and published on his social network Truth Social, has communicated his dismissal claiming the alleged mortgage fraud that has been accusing it weeks ago. Cook, who was appointed at the time by former president Joe Biden, said «I'm not going to give up». «I will continue to perform my functions to help the US economy, as I have been doing since 2022». Subsequently, the president has assured that He hopes to have «very soon» a «majority» in the Central Bank To cut interest rates. However, the president can face legal processes, and that is that Lisa Cook's lawyer Abbe Lowell has announced that his defendant will file a complaint against Trump for his dismissal. «The President Trump has no authority to dismiss the governor of the Federal Reserve, Lisa Cook. His attempt to fire her, based only on a letter of recommendation, lacks a factual or legal basis. We will file a lawsuit against this illegal action, «he said Tuesday.»Trump continues to press any Fed counselor who does not find serviletrying now that Lisa Cook marks accusing her of irregularities in her 2 mortgages, «they say from Bankinter.» The main risk for markets is that This decisionapparently arbitrary, question the future independence of an organism like the Fedsubtracting credibility to their decisions, «they add from Link Securities. For Ipek Ozkardeskaya, Swissquote Bank's senior analyst,»It is unlikely that the accusations of mortgage fraud are the true reason why Cook is in the sights. It has been frank about the inflationary impact of tariffs, warning last June that Trump -style tariffs would complicate the work of the Fed by promoting upward prices and forcing politicians to maintain high interest rates for longer. That is precisely the message Trump does not want to hear. «And, as explained in Bankinter,»She is one of the 7 permanent counselors (Total 12 with regional Fed Rotary Members), Woman of African -American origin. Actually, temporarily now there are 6 counselors until Stephen looks at Trump, who will replace Kugler, the first Hispanic woman in the history of the Fed and who the president already managed Representatives) and The president can only force his resignation under 'objective cause', which does not seem clear in this case and Cook intends to defend himself»
Tariffs return to the scene
Similarly, Trump has staged again duty. Specifically, the president has Threatened to China with 200% rates If exports of rare earth magnets are restricted. «They have to give us magnets; If they do not give us magnets, then we will have to charge them a tariff of 200% or something, «the Republican told reporters after meeting with the South Korean president, Lee Jae Myung, at the White House on Monday.» In a new day of 'Communities', Trump threatened China with 200% rates if he did not export more 'rare earth' and with increase export restrictions to countries that tax or regulate US technology companies«They say on Link Securities.
Economics, companies and other markets
As for the macro agenda, this Tuesday the August consumer trustwhich has shown a fall up to 97.4 points from July 98.7 for concerns about employment. «The growing concerns about employment and income They counteract the most optimistic visions about current and future commercial conditions, «says Stephanie Guichard, the main economist of world indicators of The Conference Board. In the business level, Nvidia It is still the main protagonist. The Chips company will announce its quarterly results on Wednesday. The consensus anticipates a BPA benefit (BPA) of $ 0.94which would mean an increase of almost 45% from $ 0.65 per title harvested in the same period of the previous year. However, go complicated that «exceeds expectations and causes a new rally». In other markets, oil West Texas has dropped 2.25% ($ 63,34) and Brent has yielded 2.18% ($ 67.31). For its part, the euro 0.21% ($ 1,1641) has been revalued, and the ounce of gold has gained 0.58% ($ 3,437). In addition, the 10 -year American Bonus Profitability It has moderated 4,252% and the Bitcoin has lost 0.20% ($ 111,091).
