如果库克提起诉讼，该案可能最终由美国最高法院裁定。 根据1913年《联邦储备法》，总统只能在 "有正当理由"（for cause） 的情况下解雇联邦储备理事。这通常被理解为理事存在渎 职或严重失职行为。在特朗普之前，这一权力从未被动用，历届政府均避免挑战美联储独立性。 上周，特朗普任命的联邦住房金融局（FHFA）局长威廉·普尔特首先对库克的房贷提出质疑，并将此事移交司法部长帕姆·邦迪调查。 普尔特指出，库克在密歇根州和佐治亚州的房产文件上均签署为"主要居所"，目的是"可能获得更低利率和更优惠的贷款条件"。 当地时间周二（8月26日），美联储理事丽莎·库克的律师表示，库克将提起诉讼，以阻止美国总统特朗普将其解职。这意味着白宫试图影 响美国货币政策的行动，可能引发一场旷日持久的法律战。 就在一天前，特朗普宣布将解雇库克，理由是其在2021年办理房贷时存在"欺骗性及潜在的犯罪行为"。 库克回应称，总统无权解雇美联储 理事，并誓言继续履职。 库克的律师、华盛顿知名律师阿贝·洛厄尔（Abbe Lowell）在声明中称："特朗普总统无权解雇美联储理事丽莎·库克。他试图仅凭一封转 介信解雇她，既没有事实依据，也没有法律依据 ...

"解雇理事丽莎·库克（Lisa Cook）一举，明显是特朗普想将货币政策置于自己的掌控之下。他或许会成 功，但国家终将后悔。" 8月26日，《华尔街日报》发表评论文章《如果特朗普执掌美联储会怎样？》犀利指出，特朗普长期以 来一直希望控制美联储，而周一晚间解雇理事库克的举动，正是他发起的一场权力博弈。这一事件可能 让美联储仅存的任何一点独立性都成为牺牲品。 文章提到，特朗普此前一直克制解雇美联储主席杰罗姆·鲍威尔的冲动，原因在于他深知此举可能震动 市场并引发旷日持久的法律纠纷。然而，库克周二已经表示将起诉特朗普的免职决定。这意味着，特朗 普终将迎来一场可能成为里程碑式案件的法律对决。 这篇社评将解雇库克事件定性为一场"精心策划的夺权行动"。其中提到，美国联邦住房金融局 （FHFA）局长比尔·普尔特（Bill Pulte）上周在社交媒体上公布了对库克的刑事移交，为这次解雇做了 铺垫。 普尔特称，库克在2021年的抵押贷款申请中，将两处不同的房产都声称为主要住所，可能涉嫌抵押贷款 欺诈以获取优惠贷款条件。 社评承认，在贷款申请中故意提供虚假信息是联邦犯罪。但同时提出了质疑，认为外界并未看到具体细 节和库克本人的解释 ...

Core Viewpoint - The dismissal of Federal Reserve Governor Lisa Cook by President Trump marks a significant escalation in the ongoing conflict between the Trump administration and the Federal Reserve, as it is the first time in over a century that a sitting president has removed a Fed governor [1][5]. Group 1: Legal Actions and Implications - Lisa Cook's attorney announced plans to sue President Trump over her dismissal, citing that the Federal Reserve Act requires a valid reason for such actions [2][3]. - The Federal Reserve emphasized its commitment to adhere to any court rulings regarding Cook's case, highlighting the importance of the long-term fixed terms and protections for governors [2][3]. Group 2: Political Motivations - Trump's motivation for dismissing Cook appears to be linked to his dissatisfaction with the Fed's reluctance to lower interest rates, which he believes is necessary to address housing costs [5][6]. - Trump has indicated that he has candidates in mind to replace Cook, aiming to increase his influence within the Federal Reserve by filling more seats with his appointees [4][5]. Group 3: Independence of the Federal Reserve - Experts warn that if Trump successfully removes Cook, it could set a precedent for presidential influence over the Federal Reserve, potentially undermining its independence and leading to greater economic uncertainty in the future [8][9].

美国总统特朗普宣布罢免美联储理事丽莎·库克（Lisa Cook）风波持续发酵。 当地时间8月26日，美联储首次就此作出回应，强调《联邦储备法》赋予理事的长期任期和解职保护机 制，并明确表示库克将通过司法途径捍卫其职位。 特朗普周一宣布库克"即刻被解职"，理由是其在房贷申请中涉嫌虚假陈述。根据《联邦储备法》规定， 美联储理事任期14年，总统仅能因"正当理由"予以解职。如何界定"正当理由"，将成为法庭核心争点。 库克已聘请华盛顿律师阿贝·洛厄尔（Abbe Lowell）代理诉讼。洛厄尔在声明中表示，特朗普"无权罢 免"库克，"他仅凭一封转介函就试图解职，这在事实和法律上都毫无依据。我们将提起诉讼，挑战这一 非法行为。" 美联储则表明，不会接受总统单方面决定，而是等待司法机关裁定。司法部尚未对库克采取行动，使得 其去留悬而未决，也令9月议息会议笼罩政治化阴影。 券商Evercore ISI 分析师古哈（Krishna Guha）与卡西拉吉（Marco Casiraghi）表示："特朗普试图解雇 库克可能成为一个转折点，让美联储逐渐按总统意愿'重塑'。"分析师表示，美联储到2026年可能出现 显著的"特朗普化"，表现 ...

Core Viewpoint - The independence of the Federal Reserve is facing unprecedented challenges due to President Trump's dismissal of Fed Governor Lisa Cook, which has raised concerns about political interference in monetary policy [1][10][14]. Group 1: Federal Reserve's Response - The Federal Reserve stated that the long-term fixed terms of its governors and the protection against dismissal are crucial for ensuring that monetary policy decisions are based on data and the long-term interests of the American people [3][4]. - The Fed will comply with any court rulings regarding Cook's dismissal [4]. Group 2: Political Implications - Trump's actions are seen as part of a systematic intervention in the Federal Reserve, with previous appointments of loyalists and public criticisms of Fed Chair Jerome Powell's policies [6][7]. - Historically, no Fed governor has been dismissed by a president, and Trump's ability to remove Cook remains uncertain due to legal restrictions requiring substantial evidence of misconduct [8][9]. Group 3: Market Reactions - Following Trump's threats, the U.S. dollar index, U.S. Treasury yields, and S&P 500 futures experienced limited declines [10]. - Analysts suggest that if the Fed's decision-making is increasingly influenced by Trump's policies, it could lead to accelerated rate cuts, benefiting equities and global risk assets while causing fluctuations in commodity prices [10]. Group 4: Future Considerations - If Trump successfully removes Cook, he would gain a majority on the Fed's Board, potentially undermining the Fed's independence and affecting its ability to control inflation [14][15]. - The political cycle may increasingly influence the Fed's policy objectives, shifting from a dual mandate of price stability and employment growth to potentially incorporating political considerations [15].

Core Viewpoint - President Trump dismissed Federal Reserve Governor Lisa Cook on grounds of alleged mortgage fraud, marking the first time in over a century that a president has removed a Fed governor, indicating a significant escalation in Trump's conflict with the Federal Reserve [1][3]. Group 1: Legal Actions and Statements - Lisa Cook's attorney announced plans to sue Trump over the dismissal, seeking judicial review of the decision [1][3]. - The Federal Reserve spokesperson stated that the law provides long-term fixed terms for governors, and a president can only dismiss them for "just cause," emphasizing the importance of this protection for monetary policy decisions [3][12]. Group 2: Trump's Intentions and Future Appointments - Trump expressed a desire for "100% transparency" in the Federal Reserve and indicated readiness for legal battles regarding Cook's dismissal, while also stating he has suitable candidates in mind to replace her [5][10]. - Reports suggest Trump is considering Stephen Moore and David Malpass as potential replacements for Cook on the Federal Reserve Board [5][10]. Group 3: Implications for the Federal Reserve's Independence - Experts warn that if Trump successfully dismisses Cook, it could set a precedent for presidential influence over the Federal Reserve, potentially undermining its independence and leading to greater economic uncertainty in the future [12][13]. - The Federal Reserve Board consists of seven members, with only two currently appointed by Trump, indicating a potential shift in the board's composition if more vacancies are created [8][10].

Core Viewpoint - The independence of the Federal Reserve is facing unprecedented challenges due to President Trump's actions, including the dismissal of Federal Reserve Governor Lisa Cook, which has raised concerns about political interference in monetary policy [1][4][16]. Group 1: Federal Reserve's Response - The Federal Reserve stated that the law protects the long-term terms of its governors and that the President can only dismiss them for just cause, ensuring that monetary policy decisions are based on data and the long-term interests of the American people [4]. - Cook's legal team announced plans to seek judicial review of her dismissal, and the Federal Reserve will comply with any court rulings [4] Group 2: Trump's Position and Actions - Trump expressed his intention to fight the legal challenge posed by Cook and indicated he has candidates in mind to replace her, specifically mentioning Stephen Moore and David Malpass [6]. - Trump's actions are seen as part of a systematic intervention in the Federal Reserve, having previously appointed allies and criticized current policies [8][16]. Group 3: Historical Context and Implications - Historically, no Federal Reserve governor has been dismissed by a president, and while the president has the authority to do so, it is limited by the requirement of substantial evidence of misconduct [9]. - The potential dismissal of Cook could give Trump a majority on the Federal Reserve Board, which may lead to increased political influence over monetary policy decisions [16]. Group 4: Market Reactions and Economic Implications - Following Trump's threats, there was a limited decline in the dollar index, U.S. Treasury yields, and S&P 500 futures, indicating market sensitivity to the Federal Reserve's independence [11]. - Analysts suggest that if Trump's influence over the Federal Reserve increases, it could accelerate the pace of interest rate cuts, benefiting risk assets and commodities while creating uncertainty in policy direction [11][12]. Group 5: Future Considerations - The potential shift in the Federal Reserve's policy goals from dual mandates of price stability and employment growth to include political cycles could alter the landscape of U.S. monetary policy [17]. - The need for fiscal consolidation is emphasized as a means to support the Federal Reserve's efforts in controlling inflation, with the government facing a "quasi-war" fiscal state [13][16].

Group 1 - The core viewpoint of the article highlights the potential for the Federal Reserve to lower interest rates in the coming months despite ongoing inflation risks, leading to market volatility and uncertainty regarding future monetary policy [1][2] - The labor market is perceived as deceptive, with a stable unemployment rate masking a slowdown in labor participation and job demand, creating a "peculiar balance" [1] - Concerns about stagflation arise, characterized by stagnant economic growth and high inflation, with fears that the current administration's policies may exacerbate cost and price pressures [2] Group 2 - The potential loss of the Federal Reserve's independence raises concerns about aggressive interest rate cuts, influenced by political pressures from the current administration [2] - The onset of a rate-cutting cycle by the Federal Reserve may provide an opportunity for emerging markets, including China, to enhance monetary policy flexibility and lower financing costs [3] - The uncertainty surrounding the U.S. financial landscape could lead global capital to seek alternative safe assets, presenting an opportunity for the internationalization of the Chinese yuan [3][4] Group 3 - China should prioritize the development of cross-border investment and financing functions for the yuan, expanding its capital flow channels to meet the demand for alternatives to U.S. dollar assets [4] - There is a need for the yuan to transition from a settlement currency to a pricing currency, enhancing its influence in commodity pricing [4] - Establishing a resilient yuan system with global significance is essential, along with the development of a global payment and clearing network to support the internationalization of the yuan [4]

Core Viewpoint - Gold prices in Asia experienced a slight decline due to potential position adjustments, with spot gold down 0.1% at $3,390.64 per ounce. However, the decline may be limited due to increased safe-haven demand stemming from concerns over the independence of the Federal Reserve and political risks in France [1]. Group 1 - Spot gold decreased by 0.1% to $3,390.64 per ounce [1]. - Concerns regarding the independence of the Federal Reserve have been heightened following President Trump's dismissal of Fed Governor Cook, introducing uncertainty [1]. - Political risks in France are exacerbated by the Prime Minister's austerity plans and an upcoming confidence vote on September 8, increasing the risk of government collapse [1].

2025.08. 27 本文字数：1222，阅读时长大约2分钟 作者 | 第一财经 胡弋杰 美国总统特朗普宣布罢免美联储理事丽莎·库克（Lisa Cook）风波持续发酵。 当地时间8月26日，美联储首次就此作出回应，强调《联邦储备法》赋予理事的长期任期和解职保护 机制，并明确表示库克将通过司法途径捍卫其职位。 美联储发言人表示："库克已通过其私人律师表示，她将立即在法院对该行为提出挑战，并寻求司法 裁决，以确认她作为经参议院确认的美联储理事继续履职的权利。美联储将一如既往地遵守法院裁 决。"他补充说："理事的长期任期和解职保护是重要保障，确保货币政策决策基于数据、经济分析以 及美国人民的长期利益。" 在美联储发言人和库克律师相继表态后，特朗普26日也在媒体前作出回应。他强调将遵守法院对库 克去留的最终裁决："我会遵守法院的决定，是的，我会遵守法院。"不过，他随即补充称，美联储理 事会"很快将由更多我任命的人选占据多数"。 微信编辑 | 七三 库克已聘请华盛顿律师阿贝·洛厄尔（Abbe Lowell）代理诉讼。洛厄尔在声明中表示，特朗普"无权 罢免"库克，"他仅凭一封转介函就试图解职，这在事实和法律上都毫无依据 ...