US Edition
Wall Street Is Rattled as Trump Says He Discussed Firing Powell but Is ‘Unlikely’ to Do It
UNITED STATES, JUL 16 – Trump denied plans to fire Federal Reserve Chair Jerome Powell, calming markets after volatility caused by reports of his possible dismissal amid criticism of Fed policies and interest rates.
- On July 17, 2025, Wall Street experienced volatility after reports that President Trump discussed but was unlikely to fire Federal Reserve Chair Jerome Powell.
- Market uncertainty followed the inflation slowdown to 2.3% last month and concerns that Trump's tariffs were raising consumer prices.
- Stocks and futures fluctuated, with the Dow rising 0.5% to 44,254.78 and the Nasdaq reaching a record 20,730.49, amid cautious earnings expectations from major banks.
- Trump indicated that while he has not dismissed any possibilities, he considers it very unlikely that he will dismiss Powell, and economist Vas Gkionakis remarked that tariffs have not yet had a clear and significant effect on inflation measurements.
- The episode highlighted ongoing tariff tensions and their unclear effect on markets, suggesting investors remain wary as bank earnings and inflation data shape future outlooks.
93 Articles
93 Articles
Trump may have broken Wall Street
This past April, when President Donald Trump started flirting with the notion of firing Fed Chair Jerome Powell, stocks and the dollar tumbled because investors worried that even talking about such a move crossed a red line. You can’t even joke about that, the Wall Street intellectuals told us — the central bank’s independence is simply too important.
Bitcoin, Ethereum, Dogecoin Climb Amid Trump-Powell Turbulence: Analyst Says BTC Could Reach $3 Trillion Market Cap By Year-End If This Happens - Grayscale Bitcoin Mini Trust (BTC) Common units of fractional undivided beneficial interest (ARCA:BTC)
Leading cryptocurrencies rose alongside stocks on Wednesday as President Donald Trump denied that he plans to remove Federal Reserve Chair Jerome Powell.
Stocks drift before tech earnings as Fed drama confounds
By Rae Wee SINGAPORE (Reuters) -Asian stocks dithered on Thursday ahead of earnings from heavyweight technology companies and as market anxiety lingered over the uncertain tenure of Federal Reserve chief Jerome Powell. TSMC, the world’s main producer of advanced AI chips, is expected to post a jump in second-quarter profit to record levels, though U.S. tariffs and a strong Taiwan dollar could weigh on its outlook. Profits for streaming giant Net…
Winnipeg Free Press
Asian shares are mostly higher after Trump says he discussed firing Fed Chair Powell
Breaking News, Sports, Manitoba, Canada
'You will see the stock market crash': MAGA senator puts Trump on notice
Sen. John Kennedy (R-LA) is leading the charge to warn President Donald Trump that his threats against Federal Reserve Chairman Jerome Powell, which have brewed for weeks, would be a disaster, CNN's Phil Mattingly reported on Wednesday."Turning back to what Trump said today, that it's highly unlikel...
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