The Federal Reserve may already have the so-called shadow chairman that President Donald Trump has said he might soon appoint in a move that could be seen as part of a pressure campaign to lower interest rates and reduce government borrowing costs.

By David French (Reuters) -Wall Street benchmarks ended modestly higher on Wednesday, with the Nasdaq Composite posting its latest record finish, despite a chaotic half hour when news reports suggested U.

Markets got back to treading water this week, as inflation and tariff concerns have some analysts pushing the next interest rate cut to December.

Wall Street ended Wednesday on top as markets grinded out a win in the wake of the latest PPI data and news that President Trump indicated that he will fire Fed Chairman Jerome Powell.

A firing of Jerome Powell by President Trump would likely open up a legal war never before seen in the US, without any guarantee of a courtroom victory for the White House.

Wall Street benchmarks closed modestly higher on Wednesday, with the Nasdaq Composite achieving its latest record finish, despite a chaotic half hour when news reports suggested U.S. President Donald Trump was set to fire Federal Reserve Chair Jerome Powell.

This past April, when President Donald Trump started flirting with the notion of firing Fed Chair Jerome Powell, stocks and the dollar tumbled because investors worried that even talking about such a move crossed a red line.

JPMorgan's Brenda Duverce is initiating coverage on the AI startup today. Duverce said OpenAI stands to shake up the search market further in the years ahead, with an unrivaled brand and a $700 billion total addressable market potential.

The Wall Street Journal editorial board on Wednesday urged President Trump not to follow through on his threat to fire Federal Reserve Chair Jerome Powell, warning the consequences would be worse