President Trump told senior aides he wouldn’t try to fire Federal Reserve Chair Jerome Powell following interventions from Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick, Brian Schwartz, Josh Dawsey and Nick Timiraos of Wall Street Journal report, citing people familiar with the matter. The two warned Trump that such a move could trigger market chaos and a messy legal fight, sources told Journal. Lutnick also told the president that efforts to fire the Fed chair likely wouldn’t lead to any practical change on interest rates because other members of the Fed’s board would likely approach monetary policy similarly to Powell, one of the people added.
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