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: br 0:00 - Introduction: Trump Fires a Fed Governorbr 0:42 - The Fed's Dilemma: Protect Independence or Avoid a Legal Battle?br 1:44 - An Unprecedented Move in 110 Yearsbr 2:43 - The Irony: Trump's Actions Are Causing Rates to Risebr 3:37 - Market Reaction: The Dollar Plunges & Gold Spikesbr 5:02 - Market Reaction: Treasuries Fall & Stocks are Confusedbr 6:30 - Setting a Dangerous Precedent (The 'Gavin Newsom Test')br 7:51 - The High Price of Losing Fed Independencebr 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 br Stay Connectedbr Forbes newsletters: Forbes on Facebook: Forbes Video on Twitter: Forbes Video on Instagram: More From Forbes: br Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.