ABC News | Why is the stock market shrugging off Trump’s attempted firing of Fed governor Lisa Cook?

The S&P 500 closed at a record high on Thursday, just days after President Donald Trump moved to fire Federal Reserve governor Lisa Cook, the first such removal in the 112-year history of the central bank.

If Trump were to replace Fed board members with loyal appointees, interest rate policy may change less than some economists fear, since the seven-member Fed board would retain a majority made up of appointees from Trump’s first term or other presidents, Jay Ritter, a professor of finance at the University of Florida, said.

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