FED GOVERNOR LISA COOK SURPRISES MARKETS WITH VOTE FOR RATE HIKE

Federal Reserve Governor Lisa Cook unexpectedly voted for a 25-basis-point rate hike, breaking with the Fed's decision to hold rates at 3.75%–4.00%.

Cook joined Cleveland Fed President Beth Hammack, a consistent advocate of tighter monetary policy, in the 10–2 vote.

The dissent marks Cook's first vote against an interest-rate decision since joining the Fed in 2022.

It also comes as President Trump makes a second attempt to remove Cook from the Fed's board, following an earlier effort blocked by the Supreme Court.