Two of President Donald Trump's contenders to succeed Chair Jerome Powell are increasing their alignment with the president in hopes to secure the nomination.

A firing of Jerome Powell by President Trump would likely open up a legal war never before seen in the US, without any guarantee of a courtroom victory for the White House.

The OMB chief said representatives from his agency aim to visit the central bank site “in the next week.” Meanwhile, a potential successor at the Fed pushed a vision for partnership with the Treasury.

It’s been a volatile week for Treasuries. The 30-year yield breached 5% for the first time since May as enduring inflation pressures prompted traders to pare odds of a September rate cut, while speculation that President Donald Trump might fire Fed Chair Jerome Powell also unnerved markets. ADVERTISEMENT

The Trump administration is toying with removing Jerome H. Powell as chair of the Federal Reserve, accusing him of mismanaging a multibillion-dollar update to its Washington headquarters.

President Donald Trump launched a new verbal assault against Federal Reserve Chairman Jerome Powell on Friday, calling him “one of my worst appointments.” The president’s feud with the Federal Reserve head continued on Friday,