What matters in U.S. and global markets today By Mike Dolan, Editor-At-Large, Finance and Markets Wednesday's market drama on reports of an imminent ouster of Federal Reserve Chair Jerome Powell has calmed quickly,

The controversy triggered $2.4 million in total trading volumes on Kalshi, marking one of the most traded cultural events on prediction markets.

U.S. stock indexes initially tumbled following reports that President Trump might fire Federal Reserve Chair Jerome Powell. Trump later denied the rumors, stabilizing the markets. Despite Trump's harsh criticism of Powell's monetary policy,

If Trump breaks the long-standing central bank independence, he would make long-term debt holders question the Fed’s reliability

U.S. Treasury official Stanley Bessent said Monday that the Federal Reserve should be reviewed as an institution, questioning aspects of its decision-making and communication, particularly regarding recent inflation concerns tied to tariffs.

Trump started the speculation about a possible Powell firing when he said last month on social media that "Powell's termination cannot come fast enough."

Gold steadied after a volatile session on Wednesday as traders assessed the outlook for Jerome Powell’s tenure as Federal Reserve chair after more speculation that President Donald Trump may ax him. Bullion was below $3 350 an ounce after rising 0.

President Donald Trump has escalated his pressure campaign against Federal Reserve Chair Jerome Powell, leaving the door open to ousting him for “fraud,” he said last week. That raises questions about what would happen if Trump actually tires to fire the central bank leader.