The Globe and Mail reports in its Saturday edition that when President Donald Trump attempted to "fire" Federal Reserve governor Lisa Cook, investors largely shrugged it off. Globe contributing columnist John Rapley writes that bond yields fell modestly, but the market viewed the move as inconsequential since Mr. Trump's authority is unclear, and legal battles could take months. Even if successful, he would still have a minority on the committee that sets interest rates. Consequently, markets anticipate no immediate disruptions to U.S. monetary policy, and any future changes are expected to favour lower borrowing costs, potentially raising share prices without causing significant inflation. Mr. Trump aims to take control of the Fed, subordinating it to his administration and undermining its long-standing independence. It is not out of the question that a Trump takeover of the Fed could induce both a stock market rally for the ages and the mother of all crashes. Thus, the one safe bet during all this turbulence appears to be that gold will keep rising, continuing to outperform stocks, bonds and even crypto. That is because investors know it is the one thing Mr. Trump cannot control, so they are rushing to its haven.