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Stocks gain after Trump soothes Fed independence worries

  • President Trump denied Tuesday he plans to fire Federal Reserve Chair Jerome Powell.
  • This followed market fears he might remove Powell for not cutting interest rates.
  • Treasury Secretary Scott Bessent expects de-escalation soon in the China tariff standoff.
  • Trump stated, "I have no intention of firing him."
  • Asian and US markets rallied Wednesday on the comments.
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  • 44% of the sources are Center
44% Center
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Bloomberg broke the news in United States on Tuesday, April 22, 2025.
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