Recently, an unprecedented financial regulatory storm has attracted widespread attention in the United States. U.S. Treasury Secretary Basent publicly criticized the Fed and called for an internal investigation into Federal Reserve Board of Governors member Cook, citing allegations of mortgage fraud. This incident not only shocked Wall Street but also raised many questions about the U.S. financial regulatory system.

Besant pointed out the seriousness of the issue without holding back during an interview on Fox Business Channel. He emphasized that, as a member of the Federal Reserve Board of Governors, Cook bears important financial regulatory responsibilities, and if fraud is indeed involved, it would severely damage the credibility of the Fed. Besant's remarks have raised public concerns about the internal management of the Fed, adding drama to this incident.

What is even more concerning is that Besant also pointed out that Cook's response to the accusation is unsettling. She did not directly deny the accusation but emphasized that the president has no authority to remove her from office. This attitude further deepens the public's doubts about the Federal Reserve Board of Governors.

The impact of this turmoil extends far beyond the United States. As one of the most important financial regulatory agencies in the world, any decision made by the Fed could have profound effects on the global economy. From the exchange rate of the dollar to inflation, from overseas assets to dollar-pegged investments, all could be affected by this controversy.

Currently, people are generally concerned about how this turmoil will unfold. Will Fed Chair Powell respond to this? Will an internal review actually take place? Will Cook's position be affected? The answers to these questions will directly relate to the direction of the global financial markets.

This financial regulatory storm is undoubtedly one of the most notable events in the American financial sector in recent years. It not only exposes potential issues within the U.S. financial regulatory system but also prompts reflection on the ethical conduct of financial regulators. As the situation continues to develop, this storm may have far-reaching effects on global financial markets, warranting our ongoing follow.