Trump denies plan to fire Fed chair Powell
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Jerome Powell has long been a target of President Donald Trump, who has repeatedly criticized the Fed chair for not cutting interest rates.
By David French (Reuters) -Wall Street benchmarks ended modestly higher on Wednesday, with the Nasdaq Composite posting its latest record finish, despite a chaotic half hour when news reports suggested U.
Treasury Secretary Scott Bessent privately urged President Donald Trump over the last week not to fire Federal Reserve Chairman Jerome Powell, according to a report. A Wall Street Journal report
This past April, when President Donald Trump started flirting with the notion of firing Fed Chair Jerome Powell, stocks and the dollar tumbled because investors worried that even talking about such a move crossed a red line.
Wall Street benchmarks closed modestly higher on Wednesday, with the Nasdaq Composite achieving its latest record finish, despite a chaotic half hour when news reports suggested U.S. President Donald Trump was set to fire Federal Reserve Chair Jerome Powell.
Markets got back to treading water this week, as inflation and tariff concerns have some analysts pushing the next interest rate cut to December.
The Wall Street Journal editorial board on Wednesday urged President Trump not to follow through on his threat to fire Federal Reserve Chair Jerome Powell, warning the consequences would be worse
JPMorgan's Brenda Duverce is initiating coverage on the AI startup today. Duverce said OpenAI stands to shake up the search market further in the years ahead, with an unrivaled brand and a $700 billion total addressable market potential.
If President Donald Trump takes the unprecedented step of trying to fire Fed Chairman Jerome Powell, the effort would roil markets and likely be met with pushback in the courts. Trump and the Trump administration have increasingly turned their fire on Powell and his leadership of the central bank.