A federal court blocked Cook’s removal, and she remains on the Fed’s rate-setting board

Graeme Wearden tracks the latest world business, economic and financial news in our daily liveblog

Donald Trump’s treasury secretary has dismissed Denmark as “irrelevant” in his administration’s latest attack on a traditional US ally, as world leaders in Davos prepare for the president’s arrival in the Swiss ski resort.

The size of Denmark’s investment in US Treasury bonds, like Denmark itself, is irrelevant.

It is less than $100m[£75m]. They’ve been selling treasuries for years. I’m not concerned at all.