{"id":50584,"date":"2025-07-16T12:08:17","date_gmt":"2025-07-16T16:08:17","guid":{"rendered":"https:\/\/thestockmarketwatch.com\/stock-market-news\/trump-backtracks-on-powell-firing-citing-highly-unlikely-unless-fraud-amid-continued-criticism-and-market-volatility\/50584\/"},"modified":"2025-07-16T12:08:17","modified_gmt":"2025-07-16T16:08:17","slug":"trump-backtracks-on-powell-firing-citing-highly-unlikely-unless-fraud-amid-continued-criticism-and-market-volatility","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/trump-backtracks-on-powell-firing-citing-highly-unlikely-unless-fraud-amid-continued-criticism-and-market-volatility\/50584\/","title":{"rendered":"Trump Backtracks on Powell Firing, Citing &#8220;Highly Unlikely&#8221; Unless Fraud, Amid Continued Criticism and Market Volatility"},"content":{"rendered":"<ul>\n<li>President Donald <a href=\"https:\/\/thestockmarketwatch.com\/live\/trump-stock-market\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Trump\">Trump<\/a> stated it is <strong>&quot;highly unlikely&quot;<\/strong> he would fire Federal Reserve Chair Jerome Powell, unless there is <strong>fraud<\/strong>, despite earlier reports suggesting he had considered the move and even drafted a letter to that effect.<\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/live\/trump-stock-market\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Trump\">Trump<\/a> continued his strong criticism of Powell, asserting that the Federal Reserve Board is <strong>&quot;not doing its job&quot;<\/strong> and that Powell has been <strong>&quot;too late&quot;<\/strong> in his actions, doing a <strong>&quot;terrible job.&quot;<\/strong><\/li>\n<li>Earlier reports today that President Trump was &quot;likely to fire&quot; Fed Chair Powell sent <strong>U.S. stock indexes sharply lower<\/strong> and caused the <strong>2-year Treasury yield to plunge<\/strong>, as markets braced for potential aggressive rate cuts under a new, more compliant Fed Chair.<\/li>\n<li>Amid the speculation, President Trump mentioned <strong>Kevin Hassett<\/strong> as someone he would consider for the Fed job, noting that &quot;a lot of people want&quot; the role and he is only interested in <strong>&quot;low interest people.&quot;<\/strong><\/li>\n<li>Separately, President Trump held a bilateral meeting with the Crown Prince and Prime Minister of Bahrain, announcing <strong>$17 billion in agreements<\/strong> with the U.S. and discussing trade matters.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>President Donald Trump stated it is &quot;highly unlikely&quot; he would fire Federal Reserve Chair Jerome Powell, unless there is fraud, [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50383,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center 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