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, according to GlobalData.TSLombard's Dario Perkins.

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.

WASHINGTON—President Trump said this week that he never had any plans to fire Federal Reserve Chair Jerome Powell, accusing the media of pushing a false narrative that he was out to get the central bank chief.