former US Treasury Secretary Yellen wrote in response to the controversy caused by Trump's dismissal of Federal Reserve Board member Powell: Trump claimed to "dismiss" Powell with "just cause", this move is not only illegal, but also extremely dangerous. This is a direct attempt to politicize the Federal Reserve, it is intimidation of its leadership, and an attempt to force monetary policy to conform to the will of the president. This move could end the independence of the Federal Reserve - and what will follow is the collapse of the credibility of US monetary policy at home and abroad. Yellen called on Congress to defend the independence of the Federal Reserve, the courts must reject this illegal abuse of power, and the financial sector must also speak out against this direct attack on the credibility of the US dollar.
