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July 17, 2025

Wall Street is rattled as Trump says he discussed firing Powell but is ‘unlikely' to do it

By STAN CHOE
AP Business Writer

NEW YORK — President Donald Trump sent the U.S. stock market on a jagged round trip Wednesday after saying he had “talked about the concept of firing” the head of the Federal Reserve. Such a move could help Wall Street get the lower interest rates it loves but would also risk a weakened Fed unable to make the unpopular moves needed to keep inflation under control.

The S&P 500 rose 0.3% after whipping through an earlier drop and subsequent recovery.


 
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