Despite the recent turmoil in the stock market, President Trump has stated that he has no intention of firing Federal Reserve Chairman Jerome Powell. This comes as the market experienced a sharp decline in response to the Federal Reserve's decision to raise interest rates in an effort to combat inflation.

Trump's support for Powell comes as a surprise to many, as the President has been critical of the Fed's rate hikes in the past. However, he has recently praised Powell's leadership and commitment to maintaining a strong economy.

The stock market took a hit following the Fed's decision, with investors expressing concern over the impact of tariffs and rising interest rates on the economy. Powell has assured the public that the Fed will continue to monitor economic indicators closely and adjust policies as needed.

While some critics have called for Powell's resignation, Trump has stood by his Chief of the Federal Reserve, citing the need for stability and continuity in economic leadership. Time will tell if Powell's approach will lead to a turnaround in the market or if further action will be needed to steer the economy back on track.