According to CCTV News, a Federal Reserve spokesperson issued a statement on the 26th local time regarding US President Trump's dismissal of Federal Reserve Governor Lisa Cook. The statement stated that Congress, through the Federal Reserve Act, provides for fixed, long-term terms for governors, and that the president can remove them only for "good cause." The long-term tenure and removal protections for governors are important safeguards, ensuring that monetary policy decisions are based on data, economic analysis, and the long-term interests of the American people. The Federal Reserve will continue to fulfill its legal responsibilities. The statement stated that Cook has indicated through her attorney that she will seek a judicial ruling. The Federal Reserve will, as always, comply with any court ruling. Shortly thereafter, Trump responded that he would also comply with the court's ruling.