Trump denies plan to fire Fed chair Powell
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By Nell Mackenzie and Summer Zhen LONDON (Reuters) -Hedge funds say they are prepared if U.S. President Donald Trump fires Federal Reserve Chair Jerome Powell before his term expires next year. The dollar briefly tumbled on Wednesday and long-dated Treasury yields rose on reports that Trump is likely to fire Powell soon.
Wall Street appears calm after President Donald Trump walked back his earlier threats to fire Federal Reserve Chair Jerome Powell.
U.S. Federal Reserve Chair Jerome Powell attends a press conference following the issuance of the Federal Open Market Committee's statement on interest rate policy in Washington, D.C., U.S., June 18,
The president floated the idea of firing the Fed chief to lawmakers, then said such a move was "very unlikely."