Trump has repeatedly urged Powell to cut the short-term interest rate that the central bank controls. The Fed typically reduces its rate during an economic downturn to encourage more borrowing and spending, and raises it to cool the economy and fight inflation when prices rise.

The president’s attacks on Powell could put a “shadow of suspicion” over whomever Trump picks as the next Fed chair.

President Trump now says he has “no intention” of of firing Federal Reserve Chair Jerome Powell. The markets are just fine with that.