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President Trump said it was "highly unlikely" he would fire Jerome Powell, but also said he discussed the idea with Republican lawmakers who expressed support.
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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.
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S&P 500 rises in volatile session as Trump denies he is firing Powell: Live updates CNBCTrump Has Penned Letter To Fire Fed Chair Jerome Powell The New York TimesMarkets Rattled by ‘Credible Threat' of Trump Trying to Fire Powell Bloomberg.comHow Trump could use a building renovation to oust Fed Chair Powell AP News
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Here's how Trump may go about trying to remove Powell, and what it could mean for the economy.
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US president later said such a move would be ‘highly unlikely', prompting swings in currency markets
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Donald Trump asked lawmakers whether he should fire Fed's Jay Powell Financial TimesTrump Has Draft of Letter to Fire Fed Chair. He Asked Republicans if He Should Send It. The New York TimesIn Dress Rehearsal for Trump Firing a Fed Chairman, U.S. Markets Sank—Then Steadied The Wall Street JournalDow adds 200 points, S&P 500 rises in volatile trading as Trump denies he's firing Powell: Live updates CNBC
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