If President Donald Trump were to fire Federal Reserve Chair Jerome Powell, it could have unintended and severe consequences that reverberate throughout the US economy and global markets.

Odds on binary event futures that President Trump fires Federal Reserve Chair Jerome Powell spiked midday on Wednesday following reports that the president had drafted a letter to fire Powell, which Trump then denied.

A bubble at the top of the art market has burst. Expensive paintings are proving to be more sensitive to interest-rate hikes than even sophisticated investors expected. Auction sales of paintings that cost more than $10 million fell 44% last year,

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.

US Treasuries pared some of their weekly losses on Friday while the dollar fell at the end of a week dominated by debate about the trajectory and leadership of the Federal Reserve.

Warren added the next Fed chair will face a tough task proving they’re committed to central bank autonomy, as concerns grow that Trump may nominate someone more loyal to him than to economic principles.

Fed Governor Christopher Waller, at a New York event, said the US central bank should lower borrowing costs at its July 29-30 policy meeting to preserve the labor market’s stren