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"Trump was warned of empty shelves and financial turmoil from tariffs and firing Powell. His U-turn pushed stocks higher"
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"President Trump's tariffs on China and recent attacks on Federal Reserve Chair Jerome Powell caused alarm among some of his top advisers and America's biggest CEOs. The warnings and market volatility seemed to have broken through, and Trump backed down from his threats, saying he has no intention of firing Powell. This led to sighs of relief on Wall Street, and US markets gained again. Top administration officials were also relieved by Trump's statement, and officials had become unnerved by the heated rhetoric and wary of a prolonged legal battle."
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