United States President Donald Trump has denied plans to fire US Federal Reserve Chair Jerome Powell, after media reports that the president is likely to do so soon triggered a drop in stocks and the dollar, and a rise in Treasury yields.
Such reports are not true, Trump said on Wednesday.
“I don’t rule out anything, but I think it’s highly unlikely unless he has to leave for fraud,” Trump said, a reference to recent White House and Republican lawmaker criticism of cost overruns in the $2.5bn renovation of the Fed’s historic headquarters in Washington, DC.
