Trump's firing of Fed Chief would have grave implications for the markets

Trump has discussed firing Powell as his frustration rose following this week's rate hike and months of stock tumult

Now it’s spiraling drama over Federal Reserve autonomy that frazzled investors must cope with as stocks lurch toward a bear market.

Word President Donald Trump has discussed firing Federal Reserve Chairman Jerome Powell was going down poorly Saturday on Wall Street, a place not known for its sympathy with Powell’s policies. Most investors saw the prospect as ill-advised meddling that could sow more agitation in a stock market that just had its worst week in almost a decade.

“There’s an old joke: the beatings will continue until morale improves,” said Keith DeGreen, chief executive officer at DeGreen Capital Management LLC in Scottsdale,