New Delhi, April 24 -- US President Donald Trump said on Tuesday he has "no intention of firing" Jerome Powell, but would like to see the Federal Reserve chairperson be "a little more active" as far as cutting interest rates goes.

Trump has been highly critical of Powell, describing him as "a major loser" and "Mr. Too Late" for not easing monetary policy in response to his unsubtle demands.

So, when reports emerged of Trump considering ways in which the Fed chief could be shunted out, not too many were surprised. Except that Powell dug in, making it quite clear that he couldn't be ousted before the end of his term in 2026.

That Trump no longer seems keen to replace Powell has been welcomed by financial markets, a clear vote in favour o...