President Donald Trump may ultimately get his wish for lower interest rates, but it isn’t likely to be the result of his intensifying criticism of Federal Reserve Chairman Jerome Powell.

President Donald Trump’s pressure campaign against the Federal Reserve and Chair Jerome Powell to lower interest rates entered a new front this week

The Federal Reserve left interest rates unchanged in its fourth meeting of 2025. The Fed aims to bring inflation down to 2%, now at 2.4%.

LONDON, July 17 (Reuters) - Wednesday's market drama on reports of an imminent ouster of Federal Reserve Chair Jerome Powell has calmed quickly, with President Donald Trump saying it was " highly unlikely" he would fire the central bank boss even as speculation continue to brew.

A new report shows inflation has picked up and analysts believe the prices of many goods increased, in part, because of President Trump’s tariffs. It will play into decisions by the Federal Reserve about when and whether to cut interest rates and comes as the president and his team have ramped up their pressure campaign on Fed Chair Jerome Powell.

Stocks had been rising modestly in the morning, before news reports saying that Trump was likely to fire the Fed chief, which quickly sent the the S&P 500 down by 0.7%. When later

Trump has been highly critical of the central bank chairman over his reluctance to cut interest rates more quickly.

There could be a revolt in global markets, including a possible collapse in the dollar and US bonds, if President Donald Trump were to take the unprecedented step of removing Federal Reserve Chair Jerome Powell from the helm of the central bank,