President Donald Trump said Wednesday it’s “highly unlikely” that he’ll fire Federal Reserve Chair Jerome Powell after signaling otherwise a day earlier in a private meeting with lawmakers.

Gold prices eased on Thursday, pressured by a firmer U.S. dollar, as investor worries eased temporarily after President Donald Trump said he did not plan to oust Federal Reserve Chair Jerome Powell.

For about an hour on Wednesday, it seemed as though President Donald Trump would try to fire Federal Reserve Chairman Jerome Powell. Before Trump denied the reports, the yield on the 10-year Treasury note climbed by about 5 basis points,

The S&P 500 reverses earlier losses to close just shy of a record.

Stocks rebounded on Wednesday after President Donald Trump denied reports that he was close to ousting Powell as chairman of the Federal Reserve.

Reports that President Trump was planning to fire Federal Reserve Chairman Jerome Powell sent stocks and the U.S. dollar tumbling on Wednesday, while long-dated Treasury yields charged higher.

Federal Reserve Chair Jerome Powell has asked the central bank’s inspector general to conduct an additional review of an ongoing $2.5 billion renovation of the institution’s headquarters that has drawn fire from President Donald Trump and others,