Image from the original article. Source: Trump was warned of empty shelves and financial turmoil from tariffs and firing Powell. His U-turn pushed stocks higher
cnn.com/2025/04/23/business/stock-market-dow-jerome-powell-fed-trump/
Key FactsTrump's U-Turn Stabilizes Markets Amid Tariff Concerns
Apr 23 · Reading time: ~45 sec.
Summary created with AI assistance · Source: cnn.com
Summary created with AI assistance · Source: cnn.com
- President Trump was warned by advisers about the financial fallout from his tariffs and potential firing of Powell.
- After backing down from his threat to remove Powell, US markets surged, with the Dow rising by 420 points.
- Top retailers informed Trump about the potential impacts of his tariff policies on supply chains and consumers.
- Despite warnings and pressure on retail, there are differing views on the independence of the Federal Reserve.
"I have no intention of firing him."— President Donald Trump stated this during a press conference in the Oval Office after hearing concerns from his advisers about the economic fallout from his rhetoric.
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