2025年8月底，特朗普突然在社交媒体上炸了锅，说要解雇美联储理事丽莎库克，理由是她涉嫌房贷欺诈。 简单说，就是库克2021年入职美联储前，把密歇根州和佐治亚州的两处房子都算成自己住的主要居所，以此骗更低的贷款利率。 但这理由刚抛出来，就被媒体扒得一干二净，首先，美国司法部至今没对库克提正式起诉，所谓的欺诈连司法程序都没启动。 文|阿絮 编辑|沐语纪史 最近美国政坛的大戏非常有意思，特朗普要解雇美联储理事丽莎库克，结果不仅库克硬刚不辞职，连美国金融圈的半壁江山都站出来反 对，现在这事儿还闹到了最高法院。 这让很多人感到纳闷，一个美联储理事的去留，怎么就能牵动全球经济的神经？原来，这根本不是简单的人事斗争，而是一场关乎美国 经济根基的生死博弈。 其次，路透社找到了库克其他的贷款文件，里面明明白白写着佐治亚州的房子是度假屋，跟特朗普说的两处都是主要居所完全对不上。 更有意思的是，最先提出这一指控的，是联邦住房金融署署长普尔特，而这人是特朗普的铁杆盟友，随后特朗普就跟着转发施压，时间 线巧合得像提前写好的剧本。 库克也不是软柿子，直接硬刚，表示自己不辞职，还把特朗普告上了法庭，结果地方法院和上诉法院都站在库克这边， ...

Group 1: Federal Reserve's Rate Cut Impact - The Federal Reserve's recent rate cut is expected to benefit Chinese companies' profitability through three main channels: increased U.S. market demand, reduced domestic financing costs, and lower overseas debt costs for Chinese enterprises, particularly in high-leverage sectors like real estate and infrastructure [1] - The Fed's "preventive rate cuts" historically lead to economic stabilization and improved stock market performance, suggesting a potential for renewed global demand expansion [3] Group 2: Economic Data and Market Sentiment - China's August economic data shows a downward trend influenced by "anti-involution" factors, but there are positive signs such as a rebound in PPI and strong performance in high-value exports [4] - The shift in China's economic model from strong supply-driven growth to a combination of supply clearing and recovering overseas demand indicates a potential recovery in corporate profitability [4] Group 3: Sector-Specific Opportunities - In the construction materials sector, the rate cut is expected to favor overseas expansion, particularly in regions like Africa and Southeast Asia, where Chinese industries can leverage their advantages [6][7] - The engineering machinery sector is anticipated to see a resurgence in global demand, especially in North America and Europe, driven by infrastructure policies and a recovery in construction activities [8][9] - The pharmaceutical sector stands to gain from lower financing costs, encouraging increased R&D investment and new drug development, which could lead to more orders for contract research organizations [10] - The petrochemical sector may benefit from macroeconomic rate cuts that could stabilize prices, despite ongoing geopolitical tensions affecting supply [11] - The metals sector is likely to experience price increases for industrial metals due to expectations of continued rate cuts, with specific optimism for aluminum and copper markets [12]

特朗普上月指控库克涉嫌房贷欺诈，理由是其在密歇根和乔治亚州同时申报两处住房为"主要居所"，并 在8月25日以涉嫌住房抵押贷款欺诈为由解除库克职务。库克否认指控，并称诉讼是特朗普为掌控美联 储、打压独立性的借口。华盛顿特区联邦地区法院法官9月9日裁定暂停解雇决定。9月18日，美国政府 请求美最高法院允许总统特朗普解雇库克。（央视新闻） 据《国会山报》报道，库克的律师在提交的文件中表示，如果允许特朗普将其解职，将动摇美国市场与 经济赖以发展的制度基础。 当地时间9月26日消息，美联储理事莉萨·库克敦促最高法院阻止美国总统特朗普将其解职，称解职将严 重破坏美联储的独立性，使其"沦为总统意志的附庸"。 ...

Core Points - The U.S. Department of Justice stated that President Trump’s dismissal of Federal Reserve Governor Lisa Cook for alleged misconduct would not lead to a "financial market disaster" [1] - The DOJ urged the Supreme Court to allow Trump's request to dismiss Cook, arguing that the lower court's ruling to temporarily reinstate her position was causing "irreparable harm" to Trump [1] - Trump's dismissal of Cook was based on allegations of mortgage fraud related to her declaration of properties as "primary residences" prior to her appointment [1] Summary by Sections Legal Context - The Federal Reserve Act of 1913 allows the President to dismiss a governor only for "cause," and Cook's lawyers argue that Trump's allegations do not meet this standard [2] - The lawyers contend that the accusations are based on Cook's actions before her appointment to the Federal Reserve Board [2] Implications for Financial Markets - If the Supreme Court approves the request to suspend the lower court's ruling, it could signal a loss of traditional independence for the Federal Reserve, potentially leading to market turmoil [2] - A group of former Federal Reserve chairs and major economic policymakers warned that allowing Cook's dismissal amid ongoing legal challenges would undermine the independence safeguards established by Congress 90 years ago [2]

（原标题：美国司法部：解雇美联储理事库克不会导致"金融市场灾难"） 特朗普于8月底宣布解雇库克，理由是美国住房金融局局长Bill Pulte提出的按揭欺诈指控，称库克在被 任命为美联储理事之前，曾在贷款文件中将两处房产同时申报为"主要居所"。库克对此予以否认。 库克律师团队周四则在最高法院提交文件，反驳特朗普的请求。他们表示，特朗普的"紧急申请"实际上 是在要求最高法院"迅速做出决定，摧毁美联储理事会的独立性"。库克方面认为，特朗普的指控是"捏 造的"，且行为发生在其上任之前，不符合《1913年联邦储备法案》中"因故解雇"的要求。库克团队警 告称，如果最高法院批准特朗普的请求，金融市场将会认为美联储丧失传统的独立性，从而引发混乱与 动荡。 美国司法部首席副检察长D. John Sauer在文件中指出，特朗普因下级法院要求暂时恢复库克职位而遭 受"不可弥补的伤害"。Sauer辩称，承认总统有权因"明显的金融不当行为"解雇理事，并不会损害美联 储的政策独立性，也不会引发市场恐慌。他表示："没有理由认为，解雇因上任前行为不当的理事比解 雇任内违规的理事更容易让市场恐慌。" 智通财经APP获悉，美国司法部周五在提交给 ...

【"将破坏美联储独立性" 库克呼吁美最高法院阻止总统将其解职】智通财经9月27日电，据央视记者当 地时间9月26日获悉，美联储理事莉萨·库克敦促最高法院阻止美国总统特朗普将其解职，称解职将严重 破坏美联储的独立性，使其"沦为总统意志的附庸"。据《国会山报》报道，库克的律师在提交的文件中 表示，如果允许特朗普将其解职，将动摇美国市场与经济赖以发展的制度基础。 转自：智通财经 ...

周四，一场罕见的跨党派、跨机构联名行动震撼华盛顿：所有在世的美联储前主席、五位前财长、多位前总 统经济顾问及数十位顶尖经济学家联手向美国最高法院递交法庭之友意见书，恳请大法官们在诉讼终结前禁 止总统特朗普罢免美联储理事丽莎·库克。他们警告，若允许未结先罢，将直接削弱公众对美联储独立性的信 心，引发通胀抬头与长期利率飙升，危及美国经济健康。 文件指出，央行独立性已被数十年实证研究证实是低通胀、稳就业与低长期利率的基石。任何政治化举动都 会令市场怀疑美联储抗通胀承诺，从而自我实现高通胀预期。 意见书写道：若理事会成员可因尚在诉讼中的指控被革职，全球投资者将不得不重新评估美国货币政策的可 信度。 1970年代前车之鉴被重点援引：时任总统尼克松施压美联储主席伯恩斯降息催旺经济，结果引发两位数通胀 与深度衰退，代价历时十年才平复。 作者们强调，一旦先例开启，未来总统皆可借莫须有理由撤换理事，美联储将沦为短期政治工具。 联名者几乎囊括过去四十年主导美国经济政策的全明星：格林斯潘、伯南克、耶伦三代美联储主席，鲁宾、 萨默斯、保尔森、盖特纳、卢等五任财长，以及曼昆、罗默、哈伯德等九位前总统经济顾问委员会主席。特 朗普任内财长 ...

这么做将使美联储暴露于政治影响之下，从而削弱公众对美联储独立性的信心，并危及美国货币政策的公信力和有效性。 周四，所有在世的美联储前主席，以及多位前美国财政部长、前白宫经济顾问和经济学家敦促美国最高法院，不要允许美国总统特朗普解雇美联储理事丽莎·库 克。他们认为，这样做会令美国经济健康岌岌可危，警告称美联储独立性的任何削弱都可能导致通胀上升。 上述团体在周四提交给美国最高法院大法官的"法庭之友"意见书中表示： 如果在库克对免职提出挑战期间就允许特朗普将她解职，将会削弱公众对美联储的信任，并破坏稳定物价、增加就业以及调节长期利率的努力。 那些 " 密切关注美联储 " 的行业正在仔细观察这场争议，以判断美联储未来的可信度。如果外界看到一名理事会成员因仍在诉讼中争议的指控而被罢免，那么这 些受众将更加怀疑美联储的独立性及其对长期低通胀政策的承诺。 这些前官员们敦促美国最高法院考虑他们在美国和全球政策制定中的经验。他们的经验让他们确信，央行独立性的削弱会导致更高的通胀和借贷成本。 文件引用了前美联储主席伯恩斯（Arthur Burns）的例子。20世纪70年代初，当时的美国总统尼克松施压伯恩斯，通过降息来降低失业率。 ...

美国银行前任全球经济研究主管Ethan Harris指出，特朗普此前对美联储的持续批评如今已升级为直接 采取罢免理事的行动，这一转变"意味着美联储正面临一场关乎生存的重大危机"。 今日周五（9月26日）亚盘时段，黄金期货目前交投于850附近，截至发稿，黄金期货暂报857.18元/ 克，涨幅0.15%，最高触及858.80元/克，最低下探850.74元/克。目前来看，黄金期货短线偏向看涨走 势。 打开APP，查看更多高清行情>> 【要闻速递】 "美联储传声筒"于近期发表最新文章称，美国最高法院即将针对美国总统特朗普是否有权将库克从美联 储理事会免职这一关键案件作出重要裁决。众多经济学家以及前美联储官员纷纷警示，此案件极有可能 对央行历经数十年所维系的独立性造成严重冲击。 当前，特朗普政府正向最高法院提出诉求，要求推翻下级法院此前作出的允许库克在其挑战白宫解雇决 定期间继续履职的裁决。 即便最终裁决倾向于白宫一方，也并不意味着该事件就此尘埃落定。不过，分析师普遍认为，这一裁决 将成为关键转折点，一旦成立，将为特朗普替换其他美联储理事铺平道路，进而打破长达90年来保护央 行官员免受政治干预的法律传统。 哈佛大学经济 ...

Core Viewpoint - The article emphasizes the importance of maintaining the independence of the Federal Reserve, warning that any political interference, such as the potential dismissal of Federal Reserve Governor Lisa Cook by President Trump, could undermine public trust in the institution and destabilize the economy [3][4][5]. Group 1: Concerns Over Federal Reserve Independence - A coalition of former Federal Reserve chairs, Treasury Secretaries, and economists has urged the Supreme Court not to allow Trump's dismissal of Cook, arguing it could jeopardize economic health and lead to higher inflation [3][6]. - The submission to the Supreme Court highlights that allowing Cook's dismissal during her legal challenge would weaken public confidence in the Federal Reserve and disrupt efforts to stabilize prices and employment [4][5]. - The document stresses that a central bank's independence is crucial for maintaining low and stable inflation without increasing unemployment, as historically, political pressures have led to economic instability [5][6]. Group 2: Historical Context and Implications - The document references former Fed Chair Arthur Burns, who faced political pressure in the 1970s, resulting in a period of high inflation and economic turmoil, illustrating the risks of undermining central bank independence [6][7]. - The legal filing underscores concerns that a non-independent central bank may prioritize short-term gains over long-term economic stability, which could have detrimental effects on the economy [7][8]. Group 3: Legal Proceedings and Arguments - Cook's legal team argues that Trump's request to dismiss her is based on unverified allegations and that the Supreme Court should reject this unconventional application, as it threatens the independence of the Federal Reserve [11][13]. - The case hinges on whether Trump has "just cause" under the Federal Reserve Act to dismiss Cook, with legal experts suggesting that the court is likely to uphold protections for Fed governors against arbitrary dismissal [12][15]. - The Supreme Court's decision could set a precedent regarding the limits of presidential power over Federal Reserve officials, impacting the institution's operational integrity [14][15].