Trump threatens to fire Powell

Trump characterized Powell's performance as 'bad' and suggested he would seek a replacement who is more aligned with the administration's economic goals.

The timing of Powell's potential departure is complicated by an ongoing Department of Justice criminal investigation into renovations at the Fed's headquarters.

While legal experts debate whether the president has the authority to remove a Fed chair for policy disagreements, the rhetoric has already created uncertainty among investors.

Trump's preferred nominee, Kevin Warsh, is currently awaiting a confirmation hearing next week.