Trump, Powell and Federal Reserve
Digest more
Wall Street appears calm after President Donald Trump walked back his earlier threats to fire Federal Reserve Chair Jerome Powell.
President Donald Trump said Wednesday it’s “highly unlikely” that he’ll fire Federal Reserve Chair Jerome Powell after signaling otherwise a day earlier in a private meeting with lawmakers.
Gold prices eased on Thursday, pressured by a firmer U.S. dollar, as investor worries eased temporarily after President Donald Trump said he did not plan to oust Federal Reserve Chair Jerome Powell.
Privately, White House officials acknowledge uncertainty about Trump firing Powell solely based on accusations he mismanaged a multi-year renovation project.
Federal Reserve Chair Jerome Powell is under fire from the White House, which accuses him of bungling a yearslong renovation of the Fed's headquarters and has suggested that it could be cause to fire him.