The Trump administration is toying with removing Jerome H. Powell as chair of the Federal Reserve, accusing him of mismanaging a multibillion-dollar update to its Washington headquarters.

After rumors spread that he was about to sack the Federal Reserve leader and stocks dropped, the president told reporters that he wasn't "planning on doing anything."

Wall Street appears calm after President Donald Trump walked back his earlier threats to fire Federal Reserve Chair Jerome Powell. Futures for the S&P 500 were unchanged before the opening bell Thursday,

President Donald Trump said he would consider National Economic Council Director Kevin Hassett to replace Jerome Powell as chair of the Federal Reserve. Hassett said he believes the Fed should remain independent but wouldn’t comment on if he would take the job if it was offered to him.

President Donald Trump has spent months criticizing Federal Reserve Chair Jerome H. Powell, most recently arguing that the central bank should immediately cut interest rates to make it easier for the United States to finance ballooning deficits,

Jerome Powell has been the Federal Reserve Chair since February 2018. Trump nominated Powell in 2017, but now calls for him to resign. Bessent is

His comments follow President Donald Trump’s intensified criticism of Federal Reserve Chairman Jerome Powell, accusing him of undermining the US economy with high interest rates, while simultaneously unveiling sweeping new tariffs targeting Canada, the European Union, Mexico, and Brazil.

President Trump and his allies have accused the Federal Reserve chair, Jerome Powell, of misleading Congress in what some legal scholars worry is a prelude to seeking his removal.