With profits finally closed the markers On Wall Street today Wednesday (16.7.2025), while they were unstable as a White House official told CNBC that US President Donald Trump was close to his dismissal Jerome Powell From the position of President of the US Federal Bank (FED), initially causing a fall of the S&P 500.
The index recovered along the way when Trump later denied the news, yet investors are still afraid of being dismissed by Jerome Powell.
The S&P 500 rose 0.32% and closed to 6,263.70. Nasdaq rose 0.25%, closing at 20,730.49 and recording the ninth closing record of the year. The Dow Jones industrial index rose 231.49 points, or 0.53%, closing at 44.254.78.
At the lowest point of the session, the 30 shares index fell 264.31 points, or 0.6%.
A White House official told Republican MPs earlier that Trump “probably soon” would remove Powell from the post of Fed president. The New York Times reported that Trump had made a letter to draw a letter to Powell’s dismissal and showed it to Members.
However, Trump immediately downgraded the reports, saying he was “extremely unlikely” to dismiss Powell in the near future. “No, we don’t intend to do it,” Trump said, adding that he “excludes anything.”
For weeks, Trump has been pushing for Powell’s removal, asking the Fed to significantly reduce interest rates. Yesterday Tuesday (15.7.2025), he said that the Fed should reduce interest rates by 3 percentage points. However, earlier this month, Powell confirmed that the Central Bank would have already loosen monetary policy if it was not the duties imposed by the Trump government.
“In fact, we decided to wait when we saw the size of the duties and virtually all the provisions on inflation in the United States increased significantly as a consequence of duties,” Powell said.