Republican senators warned Trump not to fire Fed Chair Jerome Powell, citing risks to market stability and the Fed’s independence.

Senate Republicans are warning President Trump that it would be a big mistake to follow through on his threat to fire Federal Reserve Chair Jerome Powell, saying it would likely send a "shock wave" through the financial markets and roil the broader economy.

Fed Chair Jerome Powell is under fire from the White House, which accuses him of bungling a renovation of the Fed's HQ and has suggested it could be cause to fire him.

Federal Reserve Chair Jerome Powell said Wednesday that President Donald Trump’s sweeping tariffs will likely push up inflation in the coming months, even as some Republican senators suggested the chair was biased against the duties.

The dollar briefly tumbled on Wednesday and Treasury bond yields popped higher on reports citing an unidentified White House official that U.S. President Donald Trump is likely to fire Federal Reserve Chair Jerome Powell soon,

U.S. Treasury yields moved higher on Wednesday after President Donald Trump shut down speculation that he plans to fire Fed Chair Jerome Powell.