U.S. President Donald Trump calmed investors this week by asserting that he has "no intention" of removing Federal Reserve chair Jerome Powell. However, his "outrageous rhetoric has clearly damaged" the central bank's independence,

President Donald Trump said Wednesday that Federal Reserve Chair Jerome Powell has kept interest rates too high and that he might call the central bank chief.

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.