The New York Times said Trump waved a draft letter firing Powell at an Oval Office meeting late Tuesday. Trump had gathered a group of Republicans that had blocked a procedural vote that would have advanced crypto legislation, to convince them to let the legislation advance. Odds of Powell being fired surged to 40% on prediction market Kalshi.

Goldman Sachs posted the largest quarterly stock-trading bonanza in its history, as banks across Wall Street bagged fat profits from markets roiled by uncertainty over President Trump’s tariffs.