President Trump said "we're not planning on doing anything" when asked whether he's considering firing Federal Reserve Chair Jerome Powell, who Trump appointed in 2018 and has clashed with over lowering interest rates. Trump made the comments while meeting with Bahrain's Crown Prince Salman bin Hamad Al Khalifa amid reports Trump was looking to remove Powell from his post. Trump on Tuesday asked a group of House Republicans if he should fire Powell — and people in the room voiced approval. Several sources told CBS News that Trump indicated he will do it. Trump on Wednesday confirmed he held the conversation with lawmakers about ousting Powell. The idea of a president removing a Fed chair is legally untested — federal law says the chair can only be fired "for cause." The action could have serious negative effects on financial markets. Read more in the link in bio. #trump #fed