Trump's Tension with Fed Chair Powell: An Ongoing Saga

President Donald Trump has denied plans to dismiss Federal Reserve Chair Jerome Powell, despite ongoing criticism for not lowering interest rates. Speculation of Powell's firing affected markets, but Trump denies definitive intentions, maintaining pressure on the Fed amidst controversy over renovation costs and concerns about central bank independence.

President Donald Trump on Wednesday dismissed reports suggesting his intent to remove Federal Reserve Chair Jerome Powell, though he continued his criticism of the central bank's leader for failing to reduce interest rates.

A Bloomberg report indicating Powell's potential firing impacted financial markets but was later contradicted by Trump's statements.

Criticized for renovations at the Fed, Powell serves amidst pressures on the central bank's independence, with ongoing debates about Trump's influence on financial policy.

(With inputs from agencies.)