On Thursday, Trump posted on Truth Social, calling Powell "always TOO LATE AND WRONG" and added that "his firing cannot happen fast enough."

On Thursday, Trump posted on Truth Social, calling Powell "always TOO LATE AND WRONG" and said that "his firing cannot come fast enough."

A senior White House official later clarified that this was not an official attempt to fire Powell. However, the harsh tone has shaken the markets and raised concerns among lawmakers.

Powell has previously stated that a president cannot fire a Fed chair without cause – and so far, no legal action has been taken.