In a recent development, President Trump made another bold move to overhaul the Federal Reserve by firing Fed Governor Lisa Cook, the first Black woman on the Board, citing allegations of falsifying mortgage statements. Cook, however, rebutted the claims and refused to resign. This decision impacted the market, with long-dated U.S. Treasuries weakening and yields rising due to concerns over the Fed's independence and potential inflation and borrowing cost pressures. Trump's actions follow months of pressure on Fed Chair Jerome Powell to lower interest rates, though legally, a president cannot fire the Fed chair. This incident also coincides with his nomination of Stephen Miran, contributing to evolving dynamics at the Federal Reserve. For more details, refer to the full article on Benzinga.com.