By Mike Dolan

LONDON (Reuters) – What matters in U.S. and global markets today

By Mike Dolan, Editor-At-Large, Finance and Markets

While markets cheered Federal Reserve Chair Jerome Powell’s apparent dovish tilt on interest rates last week, everything’s gone flat today, and President Donald Trump’s claim to have fired Fed board member Lisa Cook isn’t helping.

Trump’s attempt to fire Cook is based on allegations of improper mortgage borrowing. The legality of this move is unclear, but it has still sparked fresh concerns about the central bank’s independence, as her removal would potentially give the president a majority on the Fed board next year.

Cook’s refusal to accept Trump’s announcement sets up a major battle between the White House and the Fed. In response, the 2-to-30-year Trea

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