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- 20:47Trump: (Regarding the Federal Reserve's statement about Cook) I will abide by the court's decisionJinse Finance reported that U.S. President Trump said: (Regarding Federal Reserve Governor Cook) We are ready for a legal battle. Cook appears to have engaged in misconduct. We need people who are 100% honest and upright. (Regarding the Federal Reserve's statement about Cook) I will abide by the court's decision.
- 20:39Cook can still participate in the Federal Reserve's interest rate meetings, pending court decisionAccording to ChainCatcher, citing Golden Ten Data, Cook has stated through his private attorney that he will challenge his position as a Federal Reserve Board member in court and seek a judicial ruling. A Federal Reserve spokesperson said they will comply with the court's decision. Cook's status as a board member has not changed before the next meeting, and he can still participate in the interest rate decision meeting on September 16-17.
- 20:38Insider: Trump Plans to Appoint Milan and Former World Bank President to the Federal Reserve BoardJinse Finance reported, citing the Wall Street Journal, that according to informed sources, Trump has informed his advisors that he hopes to announce a nominee to replace Cook as Federal Reserve Governor as soon as possible. Trump stated that he may appoint his economic advisor, Milan, to succeed Cook. Other potential candidates discussed by Trump, according to sources, include former World Bank President David Malpass—a close ally of the president who has criticized the Federal Reserve for not cutting interest rates. If Milan is nominated to replace Cook, Malpass may be nominated to fill another vacancy on the Federal Reserve Board.