U.S. President Donald Trump is seeking increased control over the Federal Reserve following comments from Chair Jerome Powell suggesting a possible rate cut at the Jackson Hole symposium. The potential for a 0.25% interest rate decrease in September has been signaled, increasing to approximately 90%. On August 22nd, Trump threatened to dismiss Fed Governor Lael Brainard and on August 26th he officially removed her from her position, effective immediately. Cook responded hours later stating there was no justification for his dismissal and that he would not resign. Despite this, a Federal Reserve spokesperson confirmed on August 27th that Cook remained a governor and could participate in meetings until a decision was reached.