Markets in the United States had a largely muted reaction on Tuesday after President Donald Trump announced he was firing Federal Reserve governor Lisa Cook the night before.

The move, which would mark the first time in Fed history that a president has fired a member of the Fed board, initially caused the dollar’s value to sink, but markets were largely in the green on Tuesday as Cook announced a legal challenge to the filing and an effort to stay at the central bank.

Recommended Stories

Who is Lisa Cook, the Fed governor Trump is trying to fire?

Unclear if Lisa Cook still at Fed after Trump firing

Trump fires Fed governor Lisa Cook in major escalation

The Dow Jones Industrial Average rose about 141 points on Tuesday, a small 0.3% uptick. The tech-heavy Nasdaq was up just over

See Full Page