In 1997, billionaire Carlyle co-founder David Rubenstein hired a then-relatively unknown member of the George H.W. Bush administration named Jerome Powell. Over the course of eight years, Powell led the private equity firm's industrial group and was a partner.

The president reportedly brandished a letter firing the Fed chair, then backed off, saying he likely wouldn’t dismiss him “unless he has to leave for fraud.”

The Fed's independence is key for dollar stability. Firing Powell and tariff-driven policies could impact inflation, interest rates, and markets. Click for more.

Treasury yields were steadier Thursday — but higher — after President Donald Trump suggested he might move to fire Federal Reserve Chair Jerome Powell, before backing off. No matter how the "Powell saga ends,

Stock futures were mostly higher early Thursday as the market continued to shake off fears that President Donald Trump could fire Federal Reserve Chair Jerome Powell. Futures on the Dow Jones Industrial Average slipped 31 points,

Japan's exports fell for a second straight month as sweeping U.S. tariffs took a toll on the country's manufacturers, and Canadian retailer Alimentation Couche-Tard pulled its $47 billion bid to buy Seven & i Holdings, citing a lack of constructive engagement by the Japanese retailer.

For about an hour on Wednesday, it seemed as though President Donald Trump would try to fire Federal Reserve Chairman Jerome Powell. Before Trump denied the reports, the yield on the 10-year Treasury note climbed by about 5 basis points,

Once again, Donald Trump is dancing with the idea of trying to fire Fed Chair Jerome Powell - a move economists say would shake global markets and could unleash economic chaos. Plus - Trump directly attacks his own base over the Epstein backlash.