Economists interviewed by Newsweek warned that removing Powell now would roil markets, erode trust in U.S. institutions and ultimately hurt ordinary Americans.

Crypto traders are eyeing rate cuts this year amid a growing standoff between President Trump and Fed Chair Jerome Powell.

President Donald Trump sent the U.S. stock market on a jagged round trip after saying he had “talked about the concept of firing” the head of the Federal Reserve. The S&P 500 added 0.3% Wednesday after whipping through an earlier drop and subsequent recovery.