- President Donald Trump stated it is "highly unlikely" he would fire Federal Reserve Chair Jerome Powell, unless there is fraud, despite earlier reports suggesting he had considered the move and even drafted a letter to that effect.
- Trump continued his strong criticism of Powell, asserting that the Federal Reserve Board is "not doing its job" and that Powell has been "too late" in his actions, doing a "terrible job."
- Earlier reports today that President Trump was "likely to fire" Fed Chair Powell sent U.S. stock indexes sharply lower and caused the 2-year Treasury yield to plunge, as markets braced for potential aggressive rate cuts under a new, more compliant Fed Chair.
- Amid the speculation, President Trump mentioned Kevin Hassett as someone he would consider for the Fed job, noting that "a lot of people want" the role and he is only interested in "low interest people."
- Separately, President Trump held a bilateral meeting with the Crown Prince and Prime Minister of Bahrain, announcing $17 billion in agreements with the U.S. and discussing trade matters.
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Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.