President Donald Trump said on Tuesday he has no plans to fire Federal Reserve Chair Jerome Powell, but said he wants interest rates to be lower, remarks that could defuse tensions over the central bank chief's future that have rattled investors.

President Donald Trump said he has "no intention" of firing Federal Reserve Chair Jerome Powell before his term leading the U.S. central bank expires next year. Trump has recently ramped up his rhetoric against Powell and declined to rule out the possibility of taking the unprecedented step of firing him.