President Donald Trump said Wednesday it’s “highly unlikely” that he’ll fire Federal Reserve Chair Jerome Powell after signaling otherwise a day earlier in a private meeting with lawmakers.

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The Trump administration is toying with removing Jerome H. Powell as chair of the Federal Reserve, accusing him of mismanaging a multibillion-dollar update to its Washington headquarters.

There could be a revolt in global markets, including a possible collapse in the dollar and US bonds, if President Donald Trump were to take the unprecedented step of removing Federal Reserve Chair Jerome Powell from the helm of the central bank,

By Brijesh Patel (Reuters) -Gold prices dipped on Thursday, pressured by a firmer dollar and easing market tensions after U.S. President Donald Trump said it was "highly unlikely" he would dismiss Federal Reserve Chair Jerome Powell.

Reports that President Trump was planning to fire Federal Reserve Chairman Jerome Powell sent stocks and the U.S. dollar tumbling on Wednesday, while long-dated Treasury yields charged higher.

The yearslong project to spruce up central bank buildings in Washington, D.C., received little attention until recently

Trump claimed that it was former President Joe Biden who appointed Powell to be head of the Federal Reserve. However, Powell was initially appointed to the role by Trump during his first term in 2018 and was reappointed by Biden in 2022.