The president waved a copy of a draft letter firing Jerome H. Powell at a meeting in the Oval Office with House Republicans. It remains to be seen whether he follows through with his threat.

The most recent criticisms against Fed chair Jerome Powell come after President Donald Trump continues to demand lower interest rates.

Australian shares are set to rebound. The S&P 500 edged higher after Trump dampens threat to fire Powell. Labour force data awaited. Follow live.

The Federal Reserve’s political independence — the sense that the world’s most powerful central bank makes decisions based on economic conditions, not short-term political considerations — is a critical national asset. President Donald Trump is eroding it in ways that could be bad for the country and his own agenda.

The White House has stepped up its attacks on Federal Reserve Chair Jerome Powell, criticizing him over renovations at the central bank's Washington, D.C. headquarters.

Markets either don't believe the White House attempts to force out the Federal Reserve chair will succeed, or they assume it's all bluster. But there's good reason to be wary of the sort of uncertainty that renewed Fed-bashing may be building under the surface.