Trump says he has 'no intention of firing' Fed Chair Jerome Powell, US markets jump

US President Donald Trump has backed off from his earlier threats and said on Tuesday that he had "no intentions of firing" Federal Reserve Chair Jerome Powell, after the president repeated his criticism of Powell for not cutting the interest rates. Trump had earlier called Powell a "major loser" in a post on Truth Social and had suggested that he could fire the Federal Chair for being rigid towards the interest rate issue. It was Trump who had nominated Powell to the Federal Reserve Chair in 2017 during his first tenure as president. Recently, the Republican president has mounted pressure…