The president said he has “no intention” of ousting Jerome H. Powell, the Fed chair, but the administration’s willingness to challenge norms regarding the central bank’s political independence is causing concern.

U.S. President Donald Trump calmed investors this week by asserting that he has "no intention" of removing Federal Reserve chair Jerome Powell. However, his "outrageous rhetoric has clearly damaged" the central bank's independence,

Jerome Powell’s response so far: trying to draw a sharp line around monetary policy independence, even if it means appearing to give ground elsewhere.The Fed chair’s balancing act comes as the Trump administration has moved to swiftly rein in the central bank’s autonomy on bank supervision,