According to Odaily Planet Daily, Stephen Halmalik, chief economist at Economics Unchained, stated that central bank independence has been a cornerstone of the global financial system since the early 1990s, so attempts to undermine the Federal Reserve's independence are concerning. If Fed Governor Cook is removed, the appointment of a new governor will be directly under the president's direction, which would be unwelcome in financial markets and could lead to higher bond yields, which are crucial to the management of the U.S. government's debt. (Jinshi)