On "What's Moving Your Money with Spencer Hakimian," Spencer responds to President Trump's call to fire Fed Governor Lisa Cook, and what this shocking act means for markets.<br /><br />Read the full story on Forbes: <br /><br />Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1<br /><br />0:00 - Introduction: Trump Fires a Fed Governor<br />0:42 - The Fed's Dilemma: Protect Independence or Avoid a Legal Battle?<br />1:44 - An Unprecedented Move in 110 Years<br />2:43 - The Irony: Trump's Actions Are Causing Rates to Rise<br />3:37 - Market Reaction: The Dollar Plunges & Gold Spikes<br />5:02 - Market Reaction: Treasuries Fall & Stocks are Confused<br />6:30 - Setting a Dangerous Precedent (The 'Gavin Newsom Test')<br />7:51 - The High Price of Losing Fed Independence<br /><br />Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br /><br />https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br /><br />Stay Connected<br />Forbes newsletters: https://newsletters.editorial.forbes.com<br />Forbes on Facebook: http://fb.com/forbes<br />Forbes Video on Twitter: http://www.twitter.com/forbes<br />Forbes Video on Instagram: http://instagram.com/forbes<br />More From Forbes: http://forbes.com<br /><br />Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.
