The president suggested he could attempt to remove the Fed chair for cause, arguing the central bank spent too much money on renovations of two historic office buildings.

U.S. President Donald Trump said Wednesday he is not planning to fire Federal Reserve Chair Jerome Powell, after a Bloomberg report that the president is likely to do so soon sparked a drop in stocks and the dollar,

The comments came after the Supreme Court indicated that President Donald Trump does not have the authority to arbitrarily fire Fed Chair Jerome Powell.