Market Relief as Trump Reaffirms Support for Powell Amid Trade War Easing
Trump reassures markets by stating he won't fire Powell, boosting investor confidence and causing significant rallies on Wall Street and in Asia.
Positive rhetoric on trade led the market indices surged over 2.5% on Tuesday, according to analysts from Piper Sandler, with the Dow climbing more than 1,000 points.
Stocks poised to pad gains after Trump administration eases investor fears
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Markets are also reacting to comments Tuesday from U.S. Treasury Secretary Scott Bessent.
Stock market today: Markets bounce after Trump says he won’t try to fire Fed Chair Powell
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But his amped-up rhetoric over the past week had caused fresh uncertainty about his intentions.
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However, the suggestion from the White House that the US central bank will remain independent helped stocks to rise on Wednesday, as well as the prospect of lower tariffs on Chinese imports to the US.
Stock markets rise as Trump says he will reduce tariffs on China ‘substantially’
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The only prediction many Wall Street strategists are willing to make is that financial markets will likely continue to veer up and down as hopes rise and fall that Trump may negotiate deals with other countries to lower his tariffs.
Asian shares jump on hopes tariff war may subside and Trump won't fire Federal Reserve chief
ABC News·9d·ReliableThis source consistently reports facts with minimal bias, demonstrating high-quality journalism and accuracy.CenterThis outlet is balanced or reflects centrist views.The mood in the market is evidently shifting and what was a strong 'sell America' vibe flowing through markets yesterday has in part reversed.
Global Stocks, Dollar Gain as Trump Backtracks on Fed
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The markets have since been recovering from those losses.
US President Donald Trump says he has 'no intention of firing' Fed boss Jerome Powell
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Trump’s repeated attacks on Powell have unnerved financial markets in light of the overwhelming economic consensus that the Federal Reserve’s independence is crucial to the health of the US economy.
Trump backs off threat to fire Fed Chair Powell, as stock market surges
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Speculation is also growing about who might replace Powell when his term expires in May 2026.
Trump Says ‘No Intention of Firing’ Powell, Presses Fed to Cut Rates
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But the real reason such a move might fail is not because of legality or optics, but because it simply wouldn’t work.
Business Digest: Even if Trump Fires Powell, the Fed May Still Defy Him
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Trump’s initial wave of tariffs sent shockwaves through the stock market, triggering sharp swings throughout April.
Trump Announces Fed Chair Jerome Powell Will Stay Put
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The attacks had roiled markets and investors already on edge about the economic impact of President Trump's sweeping tariffs.
President Trump says he has 'no intention' to fire Federal Reserve's Jerome Powell
NPR·10d·ReliableThis source consistently reports facts with minimal bias, demonstrating high-quality journalism and accuracy.CenterThis outlet is balanced or reflects centrist views.The president maintains that energy and grocery prices are falling, so the Fed should cut its benchmark rates because inflation is no longer a threat to the U.S. economy.
Trump says he has 'no intention' of firing Federal Reserve chair
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Trump argued that interest rates should be lower because inflation is low and reducing the cost of borrowing is expected to spur the economy.
Trump says he has 'no intention of firing' Federal Reserve Chairman Jerome Powell
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Summary
President Trump has calmed markets by declaring he has no intention of firing Federal Reserve Chair Jerome Powell, following warnings from advisers about potential market turmoil. This announcement, paired with insights from Treasury Secretary Scott Bessent about an impending de-escalation of trade tensions with China, led to a surge in U.S. stock futures. The Dow futures rose by 1.9%, while S&P 500 and Nasdaq futures increased by 2.6% and 3%, respectively. International markets also rallied, although the IMF has downgraded global growth forecasts to 2.8%, raising long-term concerns about economic stability.
Perspectives
Trump has reiterated that he has 'no intention of firing' Jerome Powell, aiming to quell market fears over his threats against the Federal Reserve Chair.
Despite expressing frustration at Powell's cautious approach to interest rates, Trump's recent remarks emphasize a desire for collaboration rather than drastic changes in leadership at the Fed.
The stock market's rebound following Powell’s steadfastness shows the importance of maintaining the Fed's independence amidst political commentary.
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