Economists interviewed by Newsweek warned that removing Powell now would roil markets, erode trust in U.S. institutions and ultimately hurt ordinary Americans.

Former deputy Treasury Secretary Roger Altman said he did not think Jerome Powell would agree to leave if the president asked him to.

Treasury Secretary Scott Bessent said about finding a successor to Fed Chair Jerome Powell, whose term ends in May 2026: “There’s a formal process that’s already starting. There are a lot of great

Reports that President Trump was planning to fire Federal Reserve Chairman Jerome Powell sent stocks and the U.S. dollar tumbling on Wednesday, while long-dated Treasury yields charged higher.

NEW YORK (Reuters) -Investors are becoming more measured in their reaction to news about Trump's Washington policy, with Wednesday's whipsawing headlines over Federal Reserve Chair Jerome Powell triggering a reaction that fell short of what could happen if the Fed chair was indeed fired.

Wall Street watches the major averages whipsaw on Wednesday, following a softer-than-anticipated wholesale inflation report and news that President Trump indicated that he will fire Fed Chairman Jerome Powell.

All three major U.S. stock indexes were headed higher in Wednesday's final hour of trading after President Donald Trump soothed investors by saying he is not considering firing Federal Reserve Chair Jerome Powell.