The Trump administration is toying with removing Jerome H. Powell as chair of the Federal Reserve, accusing him of mismanaging a multibillion-dollar update to its Washington headquarters.

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,

Wall Street appears calm after President Donald Trump walked back his earlier threats to fire Federal Reserve Chair Jerome Powell. Futures for the S&P 500 were unchanged before the opening bell Thursday,

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,

The president suggested he could attempt to remove the Fed chair for cause, arguing the central bank spent too much money on renovations of two historic office buildings.

Wednesday saw a preview of how things might go down if Powell is removed. While we continue to identify this as a low-probability event, we think that the impact would indeed be risk-off.

All three major U.S. stock indexes were headed higher in Wednesday's final hour of trading after President Donald Trump soothed investors by saying he is not considering firing Federal Reserve Chair Jerome Powell.