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':"";if(a){var r=n.promos.showYahooLogo?"":"yns-no-logo";a=a.replace("{notifOnboardBtnLabel}",n.promos.notifOnboardBtnLabel).replace("{notifOnboardMsg}",n.promos.notifOnboardMsg).replace("{subscriptionTopic}",n.promos.subscriptionTopic).replace("{noLogoClass}",r).replace("{promoLogo}",n.promos.promoLogo)}var s=t.newCount>n.panel.maxCount?t.newCount:"",c=n.panel.notificationCenterPath,l=c?"":P,u=n.panel.headerMsg?"":" "+P,d=c?R:"",p=void 0;t.count?p=t.markup:p='{emptyPanelMsg}'.replace("{emptyPanelMsg}",n.panel.emptyPanelMsg);return e=e.replace("{notifMarkup}",p).replace("{promoMarkup}",a).replace("{hideClass}",l).replace("{notifCenterLink}",c).replace("{paddingClass}",d).replace("{headerMsg}",n.panel.headerMsg).replace("{hideHeaderClass}",u).replace(/{notificationCenterNavMsg}/g,n.panel.notificationCenterNavMsg).replace(/{newCount}/g,s)}},{key:"render",value:function(e,t){var n=this;if(n._panelNode){var o=void 0,i=n._panelNode,a=void 0,r=void 0;switch(e){case"expanded_panel":o='{promoMarkup}{notifMarkup}',r=n._store.getNotifications(),a=n._generatePanelMarkup(o,r),i.innerHTML=a;break;case"error_panel":a=(o='{errorMsg}').replace("{errorMsg}",n._config.panel.errorMsg),i.innerHTML=a}t&&t()}else t&&t(new Error("No panel parent"))}},{key:"createPanelParentNode",value:function(e){e&&(e.innerHTML='',this._panelNode=document.getElementById(D))}},{key:"updateBadgeNode",value:function(e){if(e){var t=this._store.getNotifications().newCount,n=this._config.badge.maxCount;if(t){var o=t>n?n+"+":t;e.innerHTML=o}else e.innerHTML=""}}},{key:"addStyles",value:function(e){if(e&&"undefined"!=typeof window){var t=document.getElementById(this._config.panel.styleTagId);t||((t=document.createElement("style")).type="text/css",t.id=this._config.panel.styleTagId,t.innerText=e,document.head.appendChild(t))}}}]),e}(),U=function(){function e(t,n,o){L(this,e);var i=this;i._store=n,i._view=o,i._config=t;var 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Gt(e,o.submitSearchBtn,m(m({},Kt),{label:null!==(t=n.i18n.root.SEARCH_TOOLTIP_WEB)&&void 0!==t?t:"Search the web",containerClass:"".concat(jt.tooltip," ").concat(jt.tooltip__web),tooltipParentElm:o.clearSearchBtn.parentElement}))}));var Jt="_yb_tdk4ba",Vt="_yb_hkd17a",$t="_yb_rtzclf",Xt="_yb_tdbhj6",Zt="_yb_de52ef",Qt="_yb_9hwrey",en="_yb_slc8ta",tn="_yb_bf0svp",nn="_yb_hjic9z";be("ybar-mod-adaptivenav",(function(e){var t=document.querySelector("#ybar-l1-more-menu ul"),n={moreDropDown:document.querySelector(".".concat(Jt)),moreBtn:document.querySelector(".".concat(Vt)),wrap:document.querySelector(".".concat(Xt)),moreSectionTitle:document.querySelectorAll(".".concat(Zt)),editionsCtaBtn:document.querySelector(".".concat(Qt)),editionsMenu:document.querySelector(".".concat(en)),closeBtn:document.querySelector(".".concat(tn)),moreMenuDropDownHeight:t?"".concat(t.offsetHeight+48,"px"):"0"};new 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markets even tightening financial conditions well before the U.S. central bank hiked borrowing costs.In a paper presented to global central bankers at a Fed conference in Wyoming on Saturday, Emi Nakamura, an economics professor at the University of California, Berkeley, said the episode showed the value of Fed credibility in action, and also the stakes on the table if that trust is eroded - a no-longer abstract risk after President Donald Trump moved on Monday to fire Fed Governor Lisa Cook in the first such move by a U.S. chief executive."It's easy to forget how remarkable it was that the Fed was able to look through 7% to 8% inflation while maintaining almost completely anchored long-term inflation expectations. This requires (an) extremely strong reputation," Nakamura said, something that hinges "on institutions like central bank independence and a strong track record, and those are things that take a long time to build up and perhaps not very long to destroy."The immediate market reaction to the announced firing of Cook has been tame so far, but analysts feel the seeds of lost faith have been planted even if it remains uncertain how quickly that will matter to policy decisions or market pricing. Trump may not succeed in removing Cook, for instance, which could strengthen the Fed's standing. Reactions in the U.S. Senate, which confirms the president's appointments to the Fed and where members of both parties typically voice strong support for central bank independence, could also be important.For now Fed policymakers are expected to begin cutting interest rates at their September 16-17 meeting, and Cook has said she intends to continue participating.Still, "it's a huge attack on the Fed's efficacy as an independent agency, which of course is the basis for achieving its price stability mandate," said Maurice Obstfeld, a professor of economics emeritus at the University of California, Berkeley and a former chief economist at the International Monetary Fund."It's going to make it harder for the central bank to achieve its other prime responsibility, which is supporting employment in the economy, without possibly destabilizing expectations of inflation," he said. "The markets will understand that monetary policy decisions are likely to be more politically motivated, and the central bank will be perceived more broadly as being more focused on other goals of the administration, for example, financing our large fiscal deficit."Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P 5006,481.40 +15.46 (+0.24%)Dow 3045,565.23 +147.16 (+0.32%)Nasdaq21,590.14 +45.87 (+0.21%)Russell 20002,373.80 +15.20 (+0.64%)VIX14.85 +0.23 (+1.57%)Gold3,449.80 +1.20 (+0.03%)PortfolioSign in to access your portfolioSign inTop gainersMDB MongoDB, Inc. 295.70 +81.36 (+37.96%)SATS EchoStar Corporation 58.76 +7.89 (+15.51%)NCNO nCino, Inc. 32.69 +4.00 (+13.94%)LUMN Lumen Technologies, Inc. 5.27 +0.58 (+12.37%)PCT PureCycle Technologies, Inc. 14.86 +1.26 (+9.26%)Top losersTIGR UP Fintech Holding Limited 11.57 -1.25 (-9.75%)NEGG Newegg Commerce, Inc. 60.89 -6.14 (-9.16%)LI Li Auto Inc. 22.60 -2.05 (-8.32%)KNF Knife River Corporation 82.76 -7.39 (-8.20%)SMMT Summit Therapeutics Inc. 24.81 -2.17 (-8.06%)Most activeWBA Walgreens Boots Alliance, Inc. 11.98 +0.06 (+0.50%)OPEN Opendoor Technologies Inc. 4.0200 -0.6800 (-14.47%)NVDA NVIDIA Corporation 181.60 -0.17 (-0.09%)PSNYW Polestar Automotive Holding UK PLC 0.4700 +0.3100 (+193.75%)NIO NIO Inc. 6.34 -0.36 (-5.37%)Earnings eventsMy earnings eventsEarnings eventsTrending tickersNVDA NVIDIA Corporation 181.60 -0.17 (-0.09%)CRWD CrowdStrike Holdings, Inc. 422.61 +5.01 (+1.20%)SNOW Snowflake Inc. 200.39 +6.04 (+3.11%)LUMN Lumen Technologies, Inc. 5.27 +0.58 (+12.37%)CRWV CoreWeave, Inc. 96.93 +5.54 (+6.06%)Top economic events