U.S. President Donald Trump calmed investors this week by asserting that he has "no intention" of removing Federal Reserve chair Jerome Powell. However, his "outrageous rhetoric has clearly damaged" the central bank's independence,

President Donald Trump on Monday kept up his verbal assault on Federal Reserve Chair Jerome Powell over the Fed's refusal for now to further cut interest rates, rattling financial markets growing ever more fearful that Trump may ultimately try to fire the U.

The president said he has “no intention” of ousting Jerome H. Powell, the Fed chair, but the administration’s willingness to challenge norms regarding the central bank’s political independence is causing concern.