【美国最高法院允许#美联储理事库克暂时留任# #美联储理事库克被允许暂时留任#】美国最高法院10 月1日发布一项指令，允许美国联邦储备委员会理事莉萨·库克暂时留任。根据美国最高法院的指令，这 起案件的口头辩论安排在2026年1月进行。这意味着在明年1月法官们就此案听取辩论之前，库克可继续 留任。8月25日，美国总统特朗普以涉嫌住房抵押贷款欺诈为由解雇库克。库克否认所有指控，并称这 是特朗普试图掌控美联储、打压其独立性的借口。随后库克通过法律途径挑战解雇决定。在地区法院暂 停解雇后，美国政府于9月18日请求最高法院允许特朗普立即解雇库克，如今最高法院的指令暂时维持 了库克的留任状态。 来源：@央视财经微博 ...

Core Points - The U.S. Supreme Court temporarily upheld the position of Federal Reserve Governor Lisa Cook, preventing her dismissal by President Trump until oral arguments are heard in January 2026 [1] - This ruling is seen as a protective measure for the Federal Reserve's independence, contrasting with previous instances where Trump was allowed to dismiss officials from other agencies [1] - Cook's dismissal was based on allegations of mortgage fraud, which has been labeled as unprecedented and controversial [1][2] Group 1 - The Supreme Court's decision allows Cook to remain in her role, reinforcing the Federal Reserve's autonomy [1] - Trump's administration has expressed dissatisfaction with the Federal Reserve's interest rate policies, prompting his attempts to remove Cook [1][2] - Cook's potential dismissal raises concerns about the independence of the Federal Reserve, with implications for market stability and economic foundations [2] Group 2 - Since August, the U.S. dollar index has declined by over 2%, while gold prices have increased by more than 17% during the same period, indicating market reactions to the ongoing uncertainty regarding the Federal Reserve's independence [3]

Core Viewpoint - The U.S. Supreme Court has temporarily blocked President Trump's attempt to dismiss Federal Reserve Governor Lisa Cook, allowing her to remain in office until oral arguments are heard in January 2026, which underscores the court's willingness to impose limits on presidential power [2][3][4]. Group 1: Legal Proceedings - The Supreme Court's ruling means that Lisa Cook can continue her role until the case is debated in January 2026 [2]. - Trump's administration had previously attempted to dismiss Cook, citing alleged misconduct, which has been described as "unprecedented" and sparked significant controversy [3][4]. - The U.S. government requested the Supreme Court to allow Trump's dismissal of Cook, arguing that lower court rulings disrespected Supreme Court precedents [4]. Group 2: Implications for Federal Reserve Independence - Cook has argued that her dismissal would severely undermine the independence of the Federal Reserve, making it subservient to presidential will [5]. - Concerns about the independence of the Federal Reserve have begun to affect market perceptions, with the Governor of the Bank of Canada noting that such worries have diminished the dollar's appeal as a safe-haven asset [7]. - If Cook were to be dismissed, it could allow Trump to reshape the Federal Reserve's board, as he has already appointed two of the current seven governors during his first term [6]. Group 3: Market Reactions - Since August, the U.S. dollar index has fallen by over 2%, while gold prices have surged by more than 17% during the same period, indicating market reactions to the uncertainty surrounding the Federal Reserve's independence [8].

Core Viewpoint - The legal battle surrounding Lisa Cook, a Federal Reserve Board member, is not just about her career but the future of the Federal Reserve's independence and its ability to operate free from political interference [1][16]. Legal Context - The D.C. Circuit Court of Appeals recently ruled against former President Donald Trump's emergency request to block the White House from firing Cook, reinforcing the legal protections for Federal Reserve officials [1][7]. - The Federal Reserve Act requires "just cause" for the dismissal of a board member, typically involving serious misconduct during their tenure, which Trump's allegations did not meet [7][9]. Allegations and Defense - Trump's administration accused Cook of mortgage fraud related to her obtaining favorable loans before her appointment, but these claims were deemed insufficient to justify her dismissal [5][7]. - The court noted that Cook had not faced criminal charges and that the allegations were unrelated to her duties as a Federal Reserve member [7]. Political Implications - The attempt to remove Cook is seen as part of a broader strategy by the White House to reshape the Federal Reserve's leadership, aiming to replace dissenting voices with allies [8][16]. - Cook's appointment was politically contentious, and her removal would symbolize a significant shift in the Federal Reserve's independence, which Trump has criticized for its monetary policy decisions [8][11]. Court's Concerns - The court expressed concerns that allowing the president to dismiss Federal Reserve members at will could lead to market instability and undermine the credibility built over a century [9][11]. - The potential for repeated legal battles over the dismissal of board members could disrupt the Federal Reserve's decision-making process and policy continuity [9][11]. Future Outlook - Although Cook has temporarily retained her position and will participate in upcoming interest rate meetings, the legal struggle may continue, with expectations that Trump’s side could appeal to the Supreme Court [13]. - The case represents a critical test of the limits of political pressure on an independent economic governance institution, highlighting vulnerabilities within the system [16].

Market Overview - Despite initial declines due to the U.S. government shutdown, U.S. stock indices reversed course and closed higher, with the Dow Jones and S&P 500 showing gains [1] - U.S. Treasury yields fell across the board, with the 10-year yield dropping to 4.11% [2] - The healthcare sector saw gains driven by optimism from a Pfizer agreement with the White House, contributing to a narrowing of market losses [1] Economic Data and Employment - The government shutdown poses a risk of missing key economic data needed for Federal Reserve decisions, with potential delays in non-farm payroll reports [3][5] - The ADP report indicated an unexpected decline in U.S. employment for September, aligning with other data suggesting a slowdown in the labor market [4] - Manufacturing activity in the U.S. contracted for the seventh consecutive month in September, although the market reaction was muted [4] Investor Sentiment - Investors are concerned about the duration of the government shutdown and its impact on economic data, but historical precedents suggest limited macroeconomic effects from such events [5] - Some analysts believe that for the shutdown to significantly impact the stock market, it would need to last longer and result in substantial layoffs or adverse conditions in the bond market [5] Sector Performance - Semiconductor stocks experienced significant gains, with Micron Technology rising nearly 6% and TSMC reaching a new historical high [5] - Price increases announced by NAND Flash manufacturers, including SanDisk and Micron, have sparked bullish expectations for the storage industry, with Morgan Stanley predicting a price increase cycle that may last until 2026 [5] Federal Reserve Independence - The U.S. Supreme Court temporarily blocked Trump's attempt to dismiss Federal Reserve Governor Lisa Cook, marking a victory for the Fed's independence [7][8] - The next Federal Reserve meeting is scheduled for October 28-29, where decisions on potential interest rate cuts will be made [7]

美国最高法院拒绝允许特朗普立即罢免美联储理事库克，后者正通过诉讼争取保留职位，这对特朗普试 图加强对美联储控制权的努力构成打击。 周三发布的这项命令意味着，库克至少可以在其职位上留任到明年1月，届时法官们将在听取此案的辩 论后做出裁决。自8月下旬特朗普以她否认的抵押贷款欺诈指控为由罢免她以来，这位经济学家一直坚 持留任。 法院表示，在司法部就下级法院称她很可能赢得解雇诉讼的裁决提出上诉期间，它将推迟对特朗普罢免 库克的请求采取行动，没有法官对该命令表示异议。 "特朗普总统已依法因故将库克免职，"白宫发言人库什·德赛在一份声明中说。"我们期待在1月份向最 高法院呈递我们的口头辩论后，取得最终胜利。" 库克的首席律师、Lowell & Associates律所的Abbe Lowell和"民主捍卫者基金"执行主席Norm Eisen在一 份声明中说，"法院的决定正确地允许了库克理事继续在联邦储备委员会中履行其职责，我们期待与法 院命令相符的进一步程序。" 美联储拒绝对此发表评论。 美联储拥有独立于司法部的法律办公室，它在这场斗争中没有站队，并告诉法官它将尊重任何最终的裁 决。美联储定于10月28-29日举行下一次会 ...

当地时间周三（10月1日），美国最高法院判决暂时维持美联储理事莉萨·库克（Lisa Cook）的职务，并 将该案件的口头辩论安排在2026年1月进行。 该裁定意味着在明年1月法官们就此案听取辩论之前，库克可继续留任。分析认为，这对于正在加强控 制美联储理事会的美国总统特朗普来说是一次挫折。 先前，特朗普指控库克涉嫌房贷欺诈，并以此为由希望尽早解除库克职务。对此，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。 白宫发言人Kush Desai在声明中表示："特朗普将依法'以正当理由'把莉萨·库克从美联储理事会中除名。 我们期待在明年1月的最高法院辩论后取得最终胜利。" 智通财经之前报道提到，在最高法院裁决前，历任美联储前主席、多位前财政部部长等经济领域领袖联 署警告，如果法院批准解雇库克，将会侵蚀公众对该行独立性的信任。 美联储年内还有两场议息会议，分别定于10月28-29日和12月9-10日，官员们将讨论是否进一步降息。 根据法院的判决，库克将有权出席这两场会议，甚至有望在明年1月会议上投票。 旧金山联储前高级顾问Tim Mahedy评论道："这远未结束，但目前对美联储独立性来说是一场胜利。这 ...

你有没有发现，最近美国停摆了，但美联储一点不受影响，照常运作？这么一想，你难道不觉得有点奇怪吗？一个金融机构，能独立到出问题 了，它照样自己按部就班的走，不受任何影响。就像柯林斯，这个美联储高管最近说的那样，"美国部门停摆是政治问题，跟我们没关系"。这话 简直可以写进教科书了，太硬气了。 如果美联储做的每一个决定都能影响整个经济，那么它这么独立、没有人能管，究竟对不对呢？我并不是说美联储要听从政治，但它是不是也该 承担些责任呢？现在的美联储就像一头巨大的独立机器，做着决定，推着经济走，却不为任何人所控制，或者说，没有人敢控制它。美联储每次 调息，都是高风险的操作，连美元汇率都能因其微调而发生大波动，可偏偏它自己无动于衷。 美联储的独立性从来都不是新闻。2018年底，美国停摆了足足一个多月，结果呢？美联储照常开会、调利率，发布经济数据，完全不受影响，完 全没有停滞过。为什么？因为美联储根本不依赖拨款，它有自己的资金来源，可以照常运作。停摆时无法运转，国会不能立法，部分职能停摆， 甚至一些福利支付也停滞了，但金融体系、货币政策，这些事，美联储都能继续。 有些人会说，这才是美联储的独立性，关键时候没人能干扰它的决策 ...

Group 1 - The Federal Reserve has lowered the federal funds rate target range by 25 basis points from 4.25%-4.50% to 4.00%-4.25%, marking the first rate cut since 2025 and the fourth cut since the easing cycle began in September 2024, totaling a cumulative reduction of 125 basis points [1][3] - The current monetary policy adjustment occurs during a critical period of global economic restructuring and transformation of the international financial system, with ongoing power struggles between President Trump and the Federal Reserve raising questions about the Fed's independence [3] - The downward trend in U.S. interest rates is expected to continue, putting pressure on the dollar and creating favorable conditions for a potential surge in gold prices, making it an opportune time for investment [5] Group 2 - October is expected to see a surge in economic data releases, including U.S. non-farm payrolls and CPI inflation data, which may increase gold volatility and present trading opportunities [5] - The company, Huangyu Global, is offering a promotional rebate of $28 per contract for investments of $3,000 or more, with reduced spread thresholds to attract investors [1][5]

洛根表示，她支持联邦公开市场委员会（FOMC）本月早些时候降低利率25个基点的决定。她说，此举 将为劳动力市场的下行风险提供保障。 但她也警告说，通胀已超过美联储2%的目标长达四年多，这可能使长期的物价预期面临"脱锚"风险， 而且企业和消费者的需求仍然具有韧性。她说，"对FOMC来说，信守其实现2%通胀的承诺至关重要， 实现这一目标将需要仔细校准政策立场。" "放下铅笔" 洛根周二在该行一场活动的准备讲稿中说，"持续的通胀、有韧性的需求和劳动力市场温和的闲置状 况，向我表明政策可能只是温和的限制性的，可能几乎没有多少空间来进行额外的降息了。" 美联储上月的降息是自去年12月以来的首次降息，因为决策者们今年在评估关税和其他政策将如何影响 经济。 这位达拉斯联储主席表示，她不确信通胀正朝着完全回到2%目标的方向发展，并且有证据表明关税并 非推动物价加速的唯一因素。她说，非住房服务业的通胀可能会使整体指标比2%的目标高出30或40个 基点。 达拉斯联储主席洛根表示，在通胀仍高于目标且劳动力市场相对平衡的情况下，决策者在考虑进一步降 息时应保持谨慎。 服务业通胀的回升已引起其他美联储官员的警觉。尽管美联储19位决策者 ...