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

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

A senior official at the White House later clarified that it was not an official effort 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 to date, no legal steps have been taken.