Dollar drifts as investors ponder Fed independence ahead of Powell speech

Dollar drifts as investors ponder Fed independence ahead of Powell speech

Source: EODHD - https://www.investing.com/news/economy-news/dollar-drifts-as-investors-ponder-fed-independence-ahead-of-powell-speech-4203382
Published: Aug 20, 2025 9:50 PM

By Ankur Banerjee SINGAPORE (Reuters) -The U.S. dollar drifted on Thursday as investors fretted about the Federal Reserve’s independence after yet another attack from President Donald Trump ahead of remarks from Chair Jerome Powell later this week that could influence the outlook for rates. Trump called on Fed Governor Lisa Cook to resign on the basis of allegations made by one of his political allies about mortgages she holds in Michigan and Georgia, intensifying his effort to gain influence over the U.S. central bank. Cook said she had "no intention of being bullied to step down" from her position at the central bank. Trump has also told aides he is considering trying to fire Cook, the Wal...

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