1ļøā£ Trump fires Fed Governor Lisa Cook immediately ā officially citing policy disagreements, though reports link it to mortgage filings on multiple homes, raising concerns about credibility and transparency.
2ļøā£ Fed Governor Adriana Kugler resigns without explanation, adding to uncertainty about the boardās stability.
3ļøā£ Miran is appointed as a new Fed Governor, joining a leadership team increasingly aligned with Trump.
4ļøā£ Trump repeatedly pressures Jerome Powell to step down, showing active involvement in major policy decisions.
5ļøā£ He announces he will personally select the next Fed Chair, further concentrating influence over interest rates and the dollar.
Market Takeaway: Capital market players worldwide once thought Trump gaining full control over the Fed was unlikely, but recent events are raising genuine concerns about the Fedās independence. If Trump secures full control over appointments, it could dramatically affect interest rates, the U.S. dollar, and global markets in 2026.