Wall Street appears calm after President Donald Trump walked back his earlier threats to fire Federal Reserve Chair Jerome Powell.

After asking a group of House Republicans on Tuesday if he should fire Federal Reserve Chair Jerome Powell, President Trump on Wednesday said it's unlikely Powell will be fired and he'll wait until the Fed chair's term is up next year.

Investors, not the Fed, control the interest rates that matter most to businesses and consumers. They might demand higher returns if the central bank’s independence comes into question.