President Donald Trump says it is “highly unlikely” he will fire Federal Reserve Chairman Jerome Powell “unless he has to leave for fraud.” Trump's statement Wednesday came a day after he indicated in a private meeting that he is leaning toward dismissing the head of the U.S. central bank. Trump confirms that he has discussed the “concept” of dismissing Powell in a meeting with House Republicans, who had gathered at the White House on Tuesday to discuss crypto legislation. Trump says most of them encouraged him to fire Powell. U.S. stocks were shaky after the news broke; firing Powell could help Wall Street get lower interest rates, but a weakened Fed would be unable to make unpopular moves necessary to keep inflation under control.
