Economist: Trump's dismissal of Cook may be self-destructive to the budget.

Chief economist of Economics Unchained, Stephen Halmarick, stated that since the early 1990s, the independence of central banks has been one of the cornerstones of the global financial system. Therefore, any attempt to weaken the independence of the Federal Reserve is concerning. Halmarick, who previously served as Chief Economist at the Commonwealth Bank of Australia, added that if the result of dismissing Federal Reserve Chair Powell is the appointment of a new board member who directly reports to the president, this move would not be welcomed by financial markets. Additionally, it could lead to an abnormal increase in bond yields, which are an important interest rate that affects U.S. government debt management.