President Trump said Sunday he would not fire Federal Reserve chair Jerome Powell before the central bank leader's term ends over the next year. Why it matters: An earlier suggestion that Trump would attempt to remove Powell — a legally dubious move — roiled financial markets,

President Donald Trump insisted he doesn’t plan to fire Federal Reserve Chair Jerome Powell despite his sustained criticism over the pace of interest rate cuts.

"I think I understand interest a lot better than him because I've had to really use interest rates," Trump said of Powell.