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.

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,

President Donald Trump on Monday kept up his verbal assault on Federal Reserve Chair Jerome Powell over the Fed's refusal for now to further cut interest rates, rattling financial markets growing ever more fearful that Trump may ultimately try to fire the U.