As the director of the Federal Housing Finance Agency, Bill Pulte oversees the system that helps keep the U.S. mortgage market liquid.

Federal Reserve Chair Jerome Powell in a Thursday letter countered criticisms leveled at the central bank by a top White House official over a $2.5 billion renovation project.

President Donald Trump said Wednesday it’s “highly unlikely” that he’ll fire Federal Reserve Chair Jerome Powell after signaling otherwise a day earlier in a private meeting with lawmakers.

Fed Chair Jerome Powell responds to criticism from the White House over the costly renovation of Fed headquarters.

The president suggested he could attempt to remove the Fed chair for cause, arguing the central bank spent too much money on renovations of two historic office buildings.

There could be a revolt in global markets, including a possible collapse in the dollar and US bonds, if President Donald Trump were to take the unprecedented step of removing Federal Reserve Chair Jerome Powell from the helm of the central bank,

The president floated the idea of firing the Fed chief to lawmakers, then said such a move was "very unlikely."

Stocks were mostly lower, with the 30-year bond yield up, after conflicting reports about whether President Trump is looking to fire Federal Reserve Chair Jerome Powell soon.