S&P 500 rises in volatile session as Trump denies he is firing Powell 7/16/25

Stocks were taken on a wild ride Wednesday, as a White House official indicated to CNBC that President Trump was moving closer to firing Jerome Powell from his post as Federal Reserve chairman, initially knocking down the S&P 500. The benchmark rebounded as Trump later denied the report, but traders still fear he could follow through. We’ll cover every angle of that story, and the market impact, for you. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.