By William Collins, consultant in financial affairs – Eurasia Business News, August 26, 2025. Article no. 1737

On August 25, President Donald Trump announced he had fired Federal Reserve Board Governor Lisa Cook “for cause,” citing allegations of mortgage fraud. This marked the first time since the Federal Reserve’s establishment in 1913 that a U.S. president attempted to remove a Fed governor.

Lisa Cook rejected the firing, stating Trump has no authority to remove her and vowed to remain in her position, with her attorney planning to file a lawsuit challenging the dismissal. The move has sparked a major legal and political controversy, with experts expecting the matter to eventually reach the Supreme Court.

Markets reacted with some initial volatility, with the Nasdaq Composite index edging higher, closing at approximately 21,495.81 points, up about 0.22% or 46.52 points from the previous close of 21,449.29. The index showed some resilience despite market concerns related to Trump’s ousting of Federal Reserve Governor Lisa Cook. The day’s trading range for Nasdaq was approximately between 21,389 and 21,511 points. This mild gain reflects cautious investor sentiment amid ongoing political and economic uncertainties.

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Gold prices last traded around $3,384 per ounce, marking an increase of about 0.57% on the day. Gold futures showed a similar upward movement, with prices rising moderately in response to ongoing market uncertainties. The day’s trading saw gold prices hovering roughly between $3,380 and $3,435 per ounce, reflecting a cautious but positive investor sentiment towards the precious metal as a safe-haven asset amid political and economic fluctuations.

Silver prices were reported around $38.54 per ounce, reflecting a slight decline of about 0.09% from the previous day. Despite this minor dip, silver’s price has shown strong gains over the past year, with a rise of approximately 28.4%.

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The broader market showed mixed results as the Dow Jones and S&P 500 hovered near flat or with minor increases, reflecting a careful market response to the Fed-related events and trade policy risks. The Nasdaq’s slight increase suggests continued interest in technology stocks even as investors navigated the political developments.

In other market news today, India is bracing for levies on its exports to climb to 50% on Wednesday. Trump also warned he could raise duties on China if Beijing doesn’t allow rare-earth magnets to flow to the U.S. A Chinese trade negotiator is heading to Washington this week.

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© Copyright 2025 – Eurasia Business News. Article no. 1737