Lagarde calls out to Trump: I hope Powell is not fired

European Central Bank President Christine Lagarde has made it clear that she hopes US President Donald Trump will not fire Federal Reserve Chair Jerome Powell. Asked whether the matter poses a significant risk to the market, Lagarde said: "I sincerely hope it doesn't happen... This should not be a real threat." When pressed by reporters, Lagarde refused to comment on the market impact of the "what-if scenario", stressing that she firmly believes that the matter is "not on the table". Trump has continued to pressure Powell to cut interest rates recently, warning that otherwise it will lead to an economic slowdown. Powell hit back last week that the trade war could depress growth and push up inflation at the same time, and reiterated that the Federal Reserve will maintain policy patience.