President Donald Trump 's attempts to fire Federal Reserve Board Governor Lisa Cook could have a profound effect on the bond market, according to Krishna Guha, vice chairman of Evercore ISI. Trump posted Cook's termination letter on Truth Social late Monday, alleging Cook made false statements on mortgage applications. Cook said Trump has no authority to fire her and refuses to resign. If she is ultimately removed and Trump's replacement is confirmed, the president will have a 4-to-3 majority on the Fed Reserve Board. The news already had investors betting that short-term rates would go lower but long-term rates would go higher if the Fed becomes less attentive to inflation and economic data. On Tuesday, the yield curve steepened somewhat , with long-term yields rising and their short-term

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