Reported about 12 hours ago
President Donald Trump has backed off from threats to fire Federal Reserve Chair Jerome Powell, which led to a nearly 2% increase in equity index futures on Wall Street. Trump stated he has no intention of firing Powell but wishes for a more proactive approach to lowering interest rates. This follows days of criticism aimed at Powell for not cutting rates further. The reassurance has calmed investors who were spooked by potential threats to the Fed's independence, crucial for financial stability.
Source: YAHOO