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.

Wall Street watches the major averages whipsaw on Wednesday, following a softer-than-anticipated wholesale inflation report and news that President Trump indicated that he will fire Fed Chairman Jerome Powell.

El presidente Donald Trump probablemente despedirá pronto al titular de la Reserva Federal, Jerome Powell, según señaló un funcionario de la Casa Blanca, quien discutió la posible medida en una reunión con republicanos del Congreso el martes por la noche.

Stocks were mostly lower, with the 30-year bond yield up, after conflicting reports about whether President Trump is looking to fire Federal Reserve Chair Jerome Powell soon.

Reports that President Trump was considering trying to remove Federal Reserve Chair Jerome Powell have had a clear, if modest, effect on the bond market—even after Trump told reporters that he [wasn’t “planning on doing anything.

Treasury Secretary Scott Bessent said about finding a successor to Fed Chair Jerome Powell, whose term ends in May 2026: “There’s a formal process that’s already starting. There are a lot of great

Polymarket traders have raised the likelihood of Fed Chair Jerome Powell's departure after Rep. Luna's cryptic post and top officials' statements.

Treasury Department Secretary Scott Bessent on Tuesday said the process to pick a new chair of the Federal Reserve has started, ahead of Chair Jerome Powell’s term ending in 2026 and amid growing