President Donald Trump on Tuesday backed off from threats to fire Federal Reserve Chair Jerome Powell after days of intensifying criticisms of the central bank chief for not cutting interest rates. "I have no intention of firing him,

President Donald Trump said he had no intention of firing Federal Reserve Chair Jerome Powell despite his frustration with the central bank not moving more quickly to slash interest rates.“Never did,” Trump told reporters on Tuesday.

Last week, the president said Federal Reserve Chair Jerome Powell's "termination cannot come fast enough!" Days later, Trump said he has "no intention" of firing him.